MDF and the University of Maine are pleased to present our third Quarterly Economic Report, The Fiscal Return on Higher Education In Maine. This series of quarterly reports further explores the economic indicators in Measures of Growth In Focus, a reliable and trusted annual report issued by the Maine Economic Growth Council.
It is fairly well documented that additional educational attainment benefits the individual through increased average earnings and reduced unemployment. This third report adds another element to the equation by exploring the benefits that accrue to the state, such as increased tax revenue and reduced social costs, from greater educational attainment. The report finds that, by conservative estimates, each bachelor’s degree in Maine generates a benefit to Maine taxpayers of approximately $74,600 in present value over the course of an average lifetime.