EMSI recently completed a large-scale Economic Impact Study on behalf of the 11 schools in the BC Colleges system. We found that the BC Colleges’ 60 campuses have a significant impact on the British Columbian economy. Here are some highlights from the study:
The added income created by BC Colleges is about 4.2% of the province’s GDP.
The income created by graduates also supported over 175,000 jobs in 2013.
93% of BC Colleges students remain in British Columbia, which means their earnings not only contribute to the economy directly, but also contribute to the province’s tax base.
In fact, their educations create over $1 billion in new tax revenue.
90% of BC Colleges graduates are employed within six months of graduation, and earn significantly more than non-graduates.
Overall, every dollar spent in tuition returns $2.40 in tax income, $3.10 in added income for students, and $15.40 in overall impact. That adds up to $7.7 billion in total impact.
To spread the news about the positive effect they’re having on British Columbia and the high return on investment they offer to students and taxpayers, BC Colleges put together this snappy video to present EMSI’s findings. Take a look!
For more information, contact Rob Sentz. For more on EMSI’s economic impact study methodology, see the EMSI EIS page. Follow EMSI on Twitter @DesktopEcon.
