London, Ontario – According to a report just released by Economic Modeling Specialists Inc. (EMSI), Fanshawe College is a sound investment from multiple perspectives.
The report, which details a study of The Socioeconomic Benefits Generated by Fanshawe College, tracks four types of benefits: (1) regional economic benefits; (2) higher earnings; (3) social benefits; and (4) ROI for taxpayer money. The results clearly reveal that the total impact of Fanshawe's operations, student spending, and the incremental salaries of graduates, amount to approximately $575 million per year.
"To explain it another way, Fanshawe's impact would be the equivalent of creating over 14,000 jobs in our region," said College President Dr. Howard Rundle. "We enrich the lives of our students, leverage taxpayer dollars by generating revenues, contribute heavily to the vitality of the local economy, and increase the earning potential of each of our graduates."
The EMSI report goes on to state that labour income in the area is $572.1 million greater due to the past and present operations of Fanshawe. It also makes the connection that with higher education comes improved health, reduced crime rates, and lower welfare costs.
Dr. Rundle announced the details of the report this morning at the College's first President’s Breakfast at the London Convention Centre. He also shared his views on the unique role of the College in building the new post-recession economy.
"We are poised to take a leadership role in meeting these challenges head on," Rundle said. "It's important for the community and region we serve to know that Fanshawe College stands ready, as it always has, to play an integral role in providing skilled labour, opportunities for jobs and innovation through education."
A fact sheet and executive summary of the EMSI report are attached.
EMSI is a leading provider of socioeconomic impact and strategic planning tools to community and technical colleges in the United States and Canada.
For more information, please contact:
Leanne Perreault
Manager, Corporate Communication
Fanshawe College
lperreault@fanshawec.ca
(519) 452-4430 ext. 2950
