NVI Technical College Information

Market Feasibility

Nature and Extent of the Market

improve their skills, yet do not have the financial means or desire to

The vocational and technical school, post secondary, is comprised of

pursue a traditional 4-year university or college program. The cost

a variety of venues that include community colleges, and private

of vocational and tech schools is often substantially less than the 4

institutions that operate on a state, regional and national level. The

year degree counterparts whereas vocational and tech schools, offer

better ranking, the greater the demand.

Programs vary as

certifications and 2-year Associates of Art ’ s Degrees.

presented in the earlier part of this Market Feasibility section, yet

overall demand is stead to increasing.

As presented herein, the income levels of vocational and tech school

A

graduates are commensurate with skills, experience and type of

Recent reports provided by the U.S. Bureau of Labor Statistics

certifications earned. Because these schools offer a diverse set of

indicate that the recent COVID-19 induced economic downturn

offerings, it is difficult to directly compare schools.

The average

whereas the national unemployment rate as of June 2020 was

tuition rate proposed for the subject project is about $25,000 for a

reported at about 11.1 percent, down from the 13.3 percent

6-month certification in fields such as automotive / truck technician

reported in May 2020, and 14.7 percent reported in April of 2020.

and similar mechanical fields. The curriculum tends to change as

demand for programs change year-to-year.

The unemployment rate accelerated upward from the reported 3.6

percent in January of 2020, to 4.4 percent in March as shutdowns

The subject project historically draws students from around the

commenced. Increasing unemployment according to U.S. Bureau of

United States, thereby is a nationally recognized facility. Student

Labor Statistics has been an impetus for those persons seeking to

housing is offered, yet not part of this report.

Source: Wert-Berater Feasibility Studies, LLC

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