CLC highlights its economic impact on Lake County

Students sitting in the crowd at graduation Published May 22, 2026

Illinois Community College Board data shows that College of Lake County (CLC) and other Illinois community colleges are a powerful driver of the state’s economy, generating $27.2 billion in total economic impact and supporting 324,273 jobs statewide, according to a newly released economic impact study.

College of Lake County Local Impact

The study supports how CLC helps students achieve better-paying careers. Over the course of a working lifetime, an associate degree from CLC adds $393,600 more in earnings per graduate than holding just a high school diploma.

For every dollar a student invests in out-of-pocket money at CLC, they receive $4.70 in future earnings. This is an average annual internal rate of return of 15.4%, higher than the 30-year annual return from the stock market at 10.9%.

In addition to economic impact, the study reinforces the role community colleges play in advancing workforce readiness, increasing earning potential and improving quality of life. The average associate degree graduate from CLC earns $9,600 more annually than a high school graduate working in Illinois.

The financial gains alumni are achieving are then being brought in the overall Lake County economy. The activities of CLC and its students supported 8,699 jobs in Lake County and added $832.7 million to the economy. The college’s alumni generated $682.2 million added income for the county, the equivalent to hosting the Super Bowl twice.

One out of every 57 jobs in Lake County is supported by the activities of CLC and its students.

CLC generates more tax revenue than it receives. For every public dollar invested into CLC, taxpayers gain $1.50 in added tax revenue and public sector savings over the course of the students’ working lives.

Making an Impact Throughout Illinois

The report, The Economic Value of the Community Colleges of Illinois, reflects fiscal year 2023–24 data and underscores the critical role community colleges — including CLC — play in workforce development, business growth and economic mobility across the state.

The study finds that Illinois community colleges contribute to the economy through operations, construction, student spending and — most significantly — the long-term success of their graduates. Alumni impact alone accounts for $25 billion in added income to the state economy.

“Illinois community colleges are one of the smartest investments we can make in our state’s future,” said ICCB Executive Director Brian Durham. “This study makes it clear — our colleges are not only transforming lives through education, but they are also strengthening Illinois’ economy, supporting hundreds of thousands of jobs and delivering real returns for taxpayers and communities across the state.”

Statewide Impact Highlights

Key findings from the study include:

  • $27.2 billion total economic impact in Illinois
  • 324,273 jobs supported — equal to 1 out of every 26 jobs statewide
  • $1.8 billion generated through college operations
  • $385.5 million added through student spending
  • $25 billion in economic impact from alumni contributions
  • 538,541 students served during FY 2023–24

The study also highlights strong returns on investment:

  • Students: $4.30 in lifetime earnings for every $1 invested
  • Taxpayers: $1.30 return for every $1 invested
  • Society: $6.70 return for every $1 invested

“This report clearly demonstrates that Illinois community colleges are among the most effective investments our state can make. The return is not only measured in economic impact, but in stronger communities, a more competitive workforce and expanded opportunities for students across Illinois. Our colleges deliver value at every level — for students, for taxpayers and for the future of our state,” said Jim Reed, President of the Illinois Community College Trustee’s Association.

Illinois community colleges — including CLC — serve as critical partners to business and industry, providing a steady pipeline of skilled workers while supporting regional economies through job creation and increased productivity.