NCCC: We contribute $62.5 million to the local economy

By DENISE A. RAYMO
Staff Writer

July 20, 2008 04:00 am

— MALONE -- North Country Community College estimates its annual financial impact on the region surpasses $62.5 million.
During a public hearing this week on the college's annual request for funding from its sponsoring entities, Interim College President Fred Smith told Franklin County legislators that NCCC spends $25 million on employee salaries and benefits, purchases of goods and services and its students.
Estimating that every dollar spent is reused and reinvested back into the local economy 2.5 times, the college said its economic impact is $62,727,148 while its total budget for 2008-09 is $12,795,000.
The college is asking both Essex and Franklin counties for $1,140,000 each, which represents 9 percent of its total revenue.
Legislators took no action following the public hearing, but could be asked to pass a resolution at its next meeting Aug. 7.
Smith said North Country is one of the largest employers in the two counties with 111 full-time and 70 part-time staff, adding that it "is making a difference" in the community as well as lives of college students.
Smith said the master plan the administration has been working on to repair, renovate and update the main campus in Saranac Lake has not been finalized and that the public meeting last month at which some details were revealed does not mean the ideas are set in concrete.
"The final plan is yet to come, and it must be approved by the Board of Trustees" before it is submitted for approval to Essex and Franklin county officials as sponsors of the college.
"The important thing is this is a tentative plan," Smith said and added that discussions of a field house and theater and an estimated $61 million cost refers to possible phases of construction over four years.
The state would pay about half the cost, and the counties would pay about $15 million each.
But he tried to assure legislators that they would not be asked to come up with it all at once and that it would be paid in stages as each phase is started.
Smith said the master plan might be ready for review in another month.
darymo@pressrepublican.com