A recent study shows Atlantic Canadian community colleges act as an economic engine throughout the region. Students benefit from improved lifestyles, greater job opportunities, and increased lifetime earnings. Taxpayers benefit from increased tax revenues, and lower social costs. Communities see increased job and investment opportunities, an expanded economic base, and a boost to their tax base.
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.
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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.
The executive summary and full report can be downloaded from the following link: http://www.apccc.ca/news/news.html.
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
Contacts:
Stephen Lee
College of the North Atlantic
709-643-7721
stephen.lee@cna.nl.ca
Ken MacRae
Executive Director, APCCC
902-491-1190
Heather Allaby
New Brunswick Community College
506-444-3320
Mandy Poitras
Collège communautaire du Nouveau-Brunswick
506-735-2511
Sara Underwood
Holland College
902-566-9695
Donald Desroches
Collège Acadie Î.-P.-É.
(902) 854-3010
Kathleen Cameron
Nova Scotia Community College
902-491-4899