SAN ANTONIO— A study that measures the total economic impact that QUEST has delivered to San Antonio’s economy over the past 25 years is being released today. The highly anticipated study was commissioned last year to kick off QUEST’s Silver Anniversary, and was completed by local economist Dr. Steve Nivin, of the SABER Research Institute.
According to the findings, QUEST’s total economic impact has been $1.67 Billion, returning $19.32 to the local economy for every dollar invested. The overall economic impact of QUEST graduates’ additional spending is measured as value added, or the contribution to the gross domestic product of the San Antonio economy, and amounts to $523M.
“This study further confirms that QUEST has helped advance the economic development of our City through job training programs that result in quality employment and a family-wage for many of San Antonio’s residents. We take great pride in the fact that our model is generating such a return on investment for our community,” said David J. Zammiello, Executive Director. Zammiello was tasked with leading an effort to assess the overall economic impact of Project QUEST on San Antonio over its 25 years of service when he was hired one year ago.
The study weaves together both quantitative and anecdotal elements that showcase the work of the organization. The study projects that employment of these QUEST graduates has reduced the cost to society by over $326M in welfare savings alone. The higher socioeconomic status of QUEST graduates will transfer to their children, resulting annually in a projected “transfer” of income of almost $99M.
“We’re extremely proud of the intergenerational effects that have resulted from helping our participants move out of poverty, and the entire San Antonio community and all who have advocated for QUEST should be proud of the results,” added Zammiello.
The link to the full study is: http://allenartservices.com/resources/client-resources/PQ_25yr_Impact_Report.pdf