Tax dollars invested in educating our students are not just dollars that disappear. The Wake County Public School System is a large employer with a total of 18,950 employees. Additionally, it is a growing system that is continually constructing new facilities.
Consider that WCPSS spending to pay salaries and build schools sets off a chain reaction of spending and re-spending in our county economy. Households and businesses receive funds and purchase products and services. That spending creates jobs and additional spending by business. And so on.
For example, every $1 spent and retained locally from the WCPSS operating budget results in $1.76 of Wake County spending. This results in an annual addition of $683 million in our local economy. Additionally, every WCPSS job is associated with another 0.34 Wake County jobs. This is an annual addition of 6,255 jobs.
WCPSS is a growing system. It builds and maintains many schools and associated structures. Over a five-year period from 2011-2015, every $1 spent and retained in the region by the capital budget results in $2.23 of Wake County spending. This is an addition of $584 million in our local economy. Further, every $1 million spent by the WCPSS capital budget results in 9.6 Wake County jobs. Over the same five-year period, this is an addition of 2,311 jobs.
Did you glaze over during the last few paragraphs? There are a lot of numbers there.
Even if math is not your thing, you can see that the numbers are not small.