Region seeing positive return on investments in community colleges
The Economic Modeling Specialists International (EMSI) study, Demonstrating the Value of the Atlantic Community Colleges, analyzed data from Nova Scotia Community College, New Brunswick Community College, Collège communautaire du Nouveau-Brunswick, College of the North Atlantic in Newfoundland and Labrador, and Holland College in Prince Edward Island. It was released today by the Atlantic Provinces Community College Consortium (APCCC).
"This report highlights what our colleges hear on a regular basis, that colleges play a vital role in our communities and in the socio-economic prosperity of our region," said Marilyn Luscombe, president of NBCC and current chair of the APCCC. "Colleges are a great investment for both taxpayers and students."
Atlantic colleges inject some $4.7 billion of income into the economy each year − representing 5.0 per cent of the region's total annual income. This includes direct college operations, student spending, the higher income created by college students joining the workforce, and associated business productivity gains.
Community colleges across Atlantic Canada also leverage social savings. The study reveals that community college graduates will generate savings associated with improved health, reduced welfare and unemployment as well as lower crime costs. These graduates will also benefit from higher earnings, which will lead to a higher tax base.
From an investment perspective, the study shows that taxpayers and provincial governments gain from a 7.2 per cent return on their college investment, while students see a 21.3 per cent rate of return on their investment of time and money because of higher lifetime earnings. The report confirms that colleges are essential partners to government and industry in the development of the regional economy.
The APCCC is an inter-provincial organization supporting collaboration, coordination, and sharing of resources among the Atlantic community colleges. Community colleges in the region operate in 50 campus locations throughout the region and serve over 65,000 full and part-time students.
Collège de l'Île is the only French language post-secondary institution in Prince Edward Island. With three training centers, in DeBlois, Wellington and Charlottetown, the College offers regular programs and customized training with a focus on the labor market training. It provides a stimulating learning environment that makes use of the latest technology while paying special attention to students.
Additional information: http://www.apccc.ca/news/news.html
NB: This study was conducted by Economic Modeling Specialists International and is based on a conservative methodology. The report was comprised of data collected from the individual institutions, Statistics Canada, and the Atlantic provincial governments. This report is an impact study which focuses on the impact the Colleges' students make in the community and includes:
•Collège communautaire du Nouveau-Brunswick
•College of the North Atlantic, Newfoundland and Labrador
•Holland College, Prince Edward Island
•New Brunswick Community College
•Nova Scotia Community College
Executive Director, APCCC
New Brunswick Community College
Collège communautaire du Nouveau-Brunswick
College of the North Atlantic
Collège de l'Île
Nova Scotia Community College