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Jefferson Community College Releases Multi-Purpose Facility Feasibility Study

Jefferson Community College (JCC) has released the New Events Center Feasibility Study conducted by Paradigm Economics (Buffalo, NY) on Tuesday, February 26, 2013.

Paradigm Economics was contracted in June 2012 to evaluate the community interest in and the economic feasibility of the College developing a new multi-purpose facility at JCC’s main entrance at Coffeen Street where Whispering Pines residential facility is currently located.   The College, which is in the midst of developing its next 5-year strategic plan, will use the report data to help determine and prioritize opportunities for expanding and upgrading educational, athletic and recreational facilities on campus. The $40,000 cost of the feasibility study was shared by the Jefferson Community College Foundation, Jefferson County, Watertown Local Development Corporation and Northern New York Community Foundation.   The results of the feasibility study were presented to representatives of each organization by Michael E. Bogucki of Paradigm Economics on Thursday, February 21.

Within the study scope of work, Paradigm Economics was engaged to provide a local and regional market demand analysis, competitive and comparable venue market research anddata analysis, estimation of projected facility operating considerations and revenues, and development of recommendations and conclusions related to overall development priorities, phasing and business modeling.   Through the course of the last 7 months, Paradigm interviewed JCC officials, representatives from local economic development and business development offices, foundations and potential project funding sources as well as live entertainment and recreational/sports youth program providers. Additionally, Paradigm conducted secondary data, research and report reviews, and visited comparable sites at Mohawk Valley Community College, Monroe Community College, Onondaga Community College, SUNY Canton and SUNY Institute of Technology.

Specifically, Paradigm Economics investigated the feasibility of a $44.3 million complex that would include a $12.3 million higher education center, $7 million field house and $25 million events center.   In general, the study determined that the multi-purpose complex is financially feasible and is perceived as adding value to the region.   The College plans to use this information to build upon its existing facilities master plan, which already includes a higher education center building and field house.

“At these early stages, we are really still digesting all the information contained within the study,” said Carole A. McCoy, president of Jefferson Community College.  “The higher education center building and athletics field house are already included in the College’s facilities master plan which will also be updated following our strategic planning process.  This report, and in particular the events center information, will help us as we plan for the future and investigate ways that the College can augment the resources already available in our community.”    

The entire feasibility study will be available on on Tuesday, February 26, 2013.  For more information, please contact Jefferson’s office of public relations, 315-786-2234.