This article was originally published by KTAR News on September 24, 2018.

A free college model would create an additional $2.6 billion in state costs, an Arizona Chamber Foundation and Rounds Consulting Group study found.

Jim Rounds, president of Rounds Consulting Group, said it’s tough to find the return of investment in large, broad education programs, though some specialized programs are easier to see the direct economic impact.

“We wanted to figure out what would be the implications of Arizona if we took that on,” Rounds told KTAR News 92.3 FM.

The result: Each $100 million in annual college tuition costs would have to create 22,000 jobs by year 10 for the state to break even, the report found.

The state brings in about $2.5 billion from tuition, Rounds said, which makes up about a quarter of Arizona’s budget.

Rounds said that to make up for it, there would need to be “significant” tax increases, which could be “devastating.”

“However, I’m a believer that we need to invest in the things that make the economy tick, and that includes K-12 and community colleges and universities, but we just have to be very strategic,” he said.