HENRY COUNTY, Va. (Romero Report) — A recent review by Lightcast EIS has highlighted the economic benefits of Patrick & Henry Community College (P&HCC) athletics. 

The analysis, covering the fiscal year 2022-2023, shows that for every $1 invested, student-athletes gain $3.30 in lifetime earnings, and society benefits from $5.10 in added income and social savings, the community college said in a news release.

The study indicates that P&HCC athletics positively impacts the business community and provides a strong return on investment for its primary stakeholders—students, society, and taxpayers. 

The release said the college’s athletic program boosts regional businesses, with visitor spending reaching $235,000 and student-athlete spending totaling $815,300 in 2022-2023. 

This economic activity generated $1.6 million in taxpayer gains through tax revenue and public sector savings.

P&HCC President Dr. Greg Hodges briefed the P&HCC Board on the findings at its regular monthly meeting on Monday. 

“This report reinforces the important role P&HCC athletics plays in our regional economy and the impact our programs have on keeping our community vibrant,” Hodges said. 

Hodges highlighted the following at the meeting:

Visitor spending added approximately $235.0 thousand in income to the P&HCC service region economy

• Approximately 72% of student-athletes attending P&HCC originated from outside the region. All these students relocated to the P&HCC service region. In addition, some in-region student-athletes, referred to as retained students, would have left the P&HCC service region for other athletic and scholastic opportunities if not for P&HCC Athletics. These relocated and retained students spent money on groceries, mortgage and rent payments, and other living expenses at regional businesses.
• The expenditures of relocated and retained student-athletes in FY 2022-23 added $815.3 thousand in income to the P&HCC service region economy
• Over the years, student-athletes have studied at P&HCC and entered or re-entered the workforce with newly acquired knowledge and skills. Today, thousands of these former student-athletes are employed in the P&HCC service region
• The net impact of P&HCC Athletics’ former student-athletes currently employed in the regional workforce amounted to $826.8 thousand in added income in FY 2022-23
• P&HCC Athletics’ FY 2022-23 student-athletes paid a present value of $0.3 million to cover the cost of fees and supplies. They also forwent $2.2 million in money that they would have earned had they been working instead of attending college. 
• In return for their investment, student-athletes will receive a cumulative present value of $8.2 million in increased earnings over their working lives. This translates to a return of $3.30 in higher future earnings for every dollar students invest in their education. Student-athletes’ average annual rate of return is 12.4%. 
• Taxpayers provided P&HCC Athletics with little to no funding in FY 2022-23. In return, they will benefit from added tax revenue, stemming from students’ higher lifetime earnings and increased business output, amounting to $1.5 million. A reduced demand for government-funded services in Virginia will add another $162.1 thousand in benefits to taxpayers. 
• Total taxpayer benefits amount to $1.6 million, the present value sum of the added tax revenue and public sector savings
• In FY 2022-23, Virginia invested $3.2 million to support P&HCC Athletics. In turn, the Virginia economy will grow by $15.7 million, over the course of student-athletes’ working lives. Society will also benefit from $485.4 thousand of public and private sector savings. 
• For every dollar invested in P&HCC Athletics in FY 2022-23, people in Virginia will receive $5.10 in return, for as long as P&HCC Athletics’ FY 2022-23 student-athletes remain active in the Virginia workforce

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