A new study has revealed the full monetary impact of Sheffield City Region’s Colleges – including Doncaster College - on students, employers and taxpayers alike.
The study, which was undertaken by Economic Modelling Specialists International (EMSI) reveals an ‘overwhelmingly positive’ impact on learners, taxpayers and the community as a whole.
The experts determined that the combined colleges pump an additional £1.8 billion per year into the region’s economy by producing well-educated students who are better prepared to become high-income earners.
According to the study, the total added income created by the Colleges is approximately equal to 2.5 per cent of the total economic output of the Sheffield City Region and represents roughly 76,472 average wage jobs. Students from Sheffield City Region Colleges enjoy a 17.3 per cent average rate of return on their educational investment.
Doncaster College principal George Trow, said: “We are extremely pleased with the results of this report. It recognises the significance of the excellent work that Doncaster College carries out in the community, widening participation, supporting business development, leading on enterprise projects and developing employability skills in students.
“Placing a focus on value for money has enabled everyone to reflect on the remarkable impact we have on the Doncaster region as an education and training provider, employer and local business.”