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My colleague at EMSI, an economic modeling firm, passed along a link to work they are doing with the Alliance for Excellent Education. They have estimated the economic impact of reducing high school drop-out rates.

Consider that in Cleveland:

Converting 1,000 drop-outs in one class to 1,000 new graduates would likely lead these 1,000 graduates to:

• Earn $13 million in additional earnings each year;
• Spend an additional $1.1 million each year purchasing vehicles and, by the time they reach the midpoint of their careers, would buy homes worth $30 million more than what they would likely have spent without a diploma; and
• Support 110 new jobs in the region, increase the gross regional product by $16 million, and pour an additional $1.9 million annually into state and local coffers, all through their increased spending and investments

You can download the Cleveland summary here.

Last 5 posts by Ed Morrison

• Signing off - February 3rd, 2012
• "The current global development model is unsustainable" - February 1st, 2012
• Market opportunities for developing Chicago's green economy - January 29th, 2012
• Plain Dealer flubs its explanation for firing Tony Grossi - January 27th, 2012
• Linking and leveraging university assets to strengthen regional economies - January 27th, 2012

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