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  No Small Potatoes: the Economic Impact of Colorado College
 

Today’s Colorado College students order an average of about five pizzas per hour, 24 hours a day, seven days a week. And that’s not even counting the pizza they eat in the dining hall or at meetings.

And as their college careers progress, they’re working more for all those pies. First-years spend an average of five hours a month at jobs, but by junior and senior year that number increases four-fold.

We know these fun facts thanks to a recent survey of CC’s economic impact on Colorado Springs by Peter Taylor, a visiting associate professor in the business and economics department.

The findings were, by and large, of a serious nature, but no less interesting.

Student off-campus spending topped $7 million in 2003, and the bulk of it went to restaurants, other eating and entertainment-related places, gas, airplane tickets, groceries, and living expenses.

The spending impact of the rest of the college is even greater, rounding out at $110 million last year. That money supported an estimated 1,090 jobs, not counting the college’s 680 employees. The college is the 25th largest private employer in the city.

And despite a popular impression that colleges get a free ride with their non-profit status, Taylor estimates that CC adds about $3 million to local and state tax revenues.

“While the college may be exempt from taxes, we’re spending money in the community, and that money gets taxed,” he says.

Bottom line: The college is a very big economic deal in Colorado Springs. Taylor says it’s especially significant because it brings in money from outside the area — in the form of tuition payments — rather than circulating dollars that are already here.

“It represents fresh cash. That makes us unique and very important. We bring a lot to the community.”

President Richard Celeste, who commissioned the survey, says it proves what he long suspected. “We always knew CC was a heavy hitter in the Colorado Springs economy. This report bears that out.”

All well and good, but how often does he eat pizza?

“All the time,” he says.