More than just an investment in your children’s future, NWCC proves to be an investment in our present

From capital spending, through payroll and services provided to the community, right up to the benefit that a higher education can provide to residents, the numerous homes of Northwest Community College are having an important effect on the local economy.

NWCC has released the results of a recent survey produced by the college into the impact that the various campuses have in all aspects of life in the Northwest and in all categories, the home of higher education in Northwestern BC is pulling more than its own weight and adding to the economic structure of the area.

An annual injection of 219 million dollars into the economy stretching from Smithers to the Charlottes is just one of the many benefits that the college campuses provide to the region.

The Daily News provided a breakdown of the survey and details on how the college adds to the regions economic and social well being

College having big impact on the region's bottom line
By Leanne Ritchie
The Daily News
Tuesday, November 13, 2007
Page Three

A study produced by Northwest Community College (NWCC) shows that the local economy is getting more impact from the educational institute than some might think.

"A question in many people's minds is the return on investment of colleges in British Columbia. Other than the obvious answer - a better educated populace, this study clearly demonstrates that NWCC is a sound investment from multiple perspectives," said Stephanie Forsyth, NWCC president.

The study shows the region from Smithers to the Queen Charlotte Islands receives more than $219 million annually from college operations and capital spending, regional income of past and present students, and out-of-area student spending.

The findings are part of a government-sponsored study conducted for B.C. colleges by CCbenefits Inc.

"Not only does the college provide valuable education and training to thousands of people a year, it also increases their lifetime incomes. The college also directly benefits the taxpayer though increased tax revenues from employed graduate incomes, reductions in the demand for social services and by making a significant contribution to the local and provincial workforce," said Forsyth.

In addition to the $219 million in income for the region, local and provincial taxpayer spending is also affected through reduced social costs of $10 per year for every credit earned by NWCC students, including savings associated with improved health, reduced crime, and fewer welfare and unemployment claims.

This translates to $767,400 worth of social savings to the Province of British Columbia each year as long as students are in the workforce.

From a provincial investment perspective, the study concludes that NWCC provides a 16 per cent rate of return, higher than the private sector rates of return on similar long-term investments. Additionally, for every dollar appropriated by the provincial government, taxpayers will see a cumulative return of $4 of taxpayer financial support during the course of a students' working career (in the form of higher tax receipts and avoided social costs).

Students themselves receive a 16 per cent annual rate of return on their NWCC educational investment, and recover all costs (including wage foregone while attending) in nine years. The study also found that as many as 95 per cent of students stay in the region initially after they leave college and contribute to the local economy.