Issue link: http://georgiancollege.uberflip.com/i/985337
Georgian College (Georgian) creates a significant positive impact on the business community and generates a return on investment to its major stakeholder groups—students, taxpayers, and society. Using a two-pronged approach that involves an economic impact analysis and an investment analysis, this study calculates the benefits received by each of these groups. Results of the analysis reflect fiscal year (FY) 2016-17. IMPACT ON BUSINESS COMMUNITY During the analysis year, Georgian and its students added $1.2 billion in income to the Georgian Catchment Area economy, approximately equal to 5.3% of the region's total gross regional product (GRP). By comparison, this impact from the college is nearly as large as the entire health care and social assistance industry. The economic impacts of Georgian break down as follows: Operations spending impact • Georgian employed 1,244 full-time equivalent (FTE) employees in FY 2016-17. Payroll amounted to $120 million, a portion of which was spent in the Georgian Catchment Area to purchase groceries, clothing, and other household goods and services. The college spent another $72.8 million to support its day-to-day operations. • The net impact of college payroll and expenses toward day-to-day operations in the Georgian Catchment Area during the analysis year was approximately $165.7 million in added regional income. Student spending impact • Around 4,767 students relocated to the Georgian Catchment Area from outside of the region or outside of Canada to attend Georgian. In addition, a number of students would have left the region if not for Georgian. These relocated and retained students spent money at local businesses to purchase groceries, rent accommodation, and pay for transport. • The expenditures of out-of-region and retained students during the analysis year added approximately $25.5 million in income to the regional economy. FACT SHEET THE ECONOMIC VALUE OF GEORGIAN COLLEGE April 2018 IMPACTS CREATED BY GEORGIAN IN FY 2016-17 ADDED INCOME JOBS $165.7 million 1,921 Operations spending impact $25.5 million 808 Student spending impact $969.9 million 10,058 Alumni impact $1.2 billion 12,786 Total impact 4 0 9 S . J A C K S O N S T R E E T , M O S C O W , I D A H O 8 3 8 4 3 | 2 0 8 - 8 8 3 - 3 5 0 0