The Montgomery County Public Schools (MCPS) is a major source of economic activity within the County with these benefits extending across the State of Maryland. These economic benefits result from MCPS's annual expenditures for new facilities, its outlays for repairs and maintenance, and its spending in support of program and facility operations. These expenditures generate employment and personal earnings--wages and salaries--and they support a broad base of local businesses that supply goods and services in support of MCPS's mission. It is the objective of the research reported herein: (1) to identify the sources and magnitudes of MCPS's expenditures as proposed in its FY 2016 budget; (2) to calculate the value of the impacts of these expenditures on both the County's and State's economies in terms of their contribution to economic growth, the generation of personal earnings (labor income) and the direct and indirect jobs supported; and (3) to assess the significance of these impacts to these economies' performance.