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Wake County Schools give big economic boost to county

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Photo Courtesy: Wake County Public School System

The WakeEd Partnership and the Wake County Public School System recently released a report on the school system’s economic impact to the county.

The report was prepared by Michael Walden of North Carolina State University and shows that every dollar spent by the school system’s operating budget that stays in the county generates $1.76 in Wake County spending.

The impact of the school system’s capital budget is even higher, according to the report. Every dollar spent by the system’s capital budget that stays in Wake County ends up with $2.23 in county spending. And every $1 million spent by the system’s capital budget translates into 9.6 Wake County jobs.

Wake County Public School graduates also have a positive impact on the county, the report states. Each recent graduating class generates $1.6 billion in additional lifetime income, saves taxpayers up to $639 million, and adds more than $86 million to local property values.

Overall, the school system contributes to an increased $11.2 billion in residential property values because of strong academic performance, according to the report.

See the full results here.