Those in the know say Georgian College is paying off. The Economic Modeling Specialists International has crunched the number and say Georgian college campuses’ total fiscal impact on the surrounding areas is $1.2 billion. That’s all seven campuses, while the Barrie campus alone represents a $601.7 million boost to the city’s overall income.
“Georgian has benefited immensely from the communities we serve at each of our seven campuses,” said MaryLynn West-Moynes, President and CEO of Georgian College. “This study reinforces how effectively our symbiotic relationship is working by quantifying Georgian’s economic value and benefits to students, taxpayers and society as a whole.”
The EMSI study says for every tax dollar invested in Georgian College, there’s a $15.40 return, while every dollar spent on a student’s education means for a return of $5.10 in future earnings.
“Justifiably society expects that every dollar invested in postsecondary will deliver a return; Georgian is pleased this study quantifies and validates the intrinsic value of postsecondary education, both for individual students and our communities,” added West-Moynes. “Potential students wondering about whether or not an education will change their lives can be assured a diploma or a degree will enhance their lifetime earning potential. Furthermore, taxpayers can be confident their investment in our talented graduates destined to become future leaders and innovators is helping to sustain and drive our economy.”
This comes from a pouring-over of numbers from 2016-2017 by EMSI, a Higher Education-based labour market advisory group that has been crunching numbers for about 15 years.