– Atlantic Canada’s publicly-funded colleges have a significant economic impact injecting $6.7 billion into the region annually, according to a new report released today by Atlantic Colleges Atlantique (ACA). The analysis conducted by Economic Modeling Specialists, Inc. (Emsi) looked at both the economic impact of and the investment in ACA institutions to calculate the benefits received by students, taxpayers and society.
“This report reaffirms the significant contribution made by Atlantic Canada’s publicly-funded post-secondary colleges across our region,” said NBCC President and CEO Marilyn Luscombe, also the current chair of ACA. “The $6.7 billion economic impact is the equivalent of supporting 67,259 jobs in the region – that represents one out of 18 jobs in Atlantic Canada.”
ACA institutions welcome more than 57,000 full- and part-time learners annually at 40 campuses across the region. This includes attracting 1,220 international students to Atlantic Canada to attend ACA institutions. These students contributed $9.7 million to the regional economy in 2016-2017.
Atlantic Canada’s publicly-funded post-secondary colleges offer a strong return on investment for students, society and taxpayers, including:
- For every dollar invested by students, they receive $3.20 in lifetime earnings
- For every dollar invested by taxpayers, they receive $4.20 in additional taxes and public sector savings
- For every dollar invested by society, there is $7.60 in added revenue and social savings.
“This is the time of year when thousands of students across Atlantic Canada graduate from publicly-funded post-secondary colleges,” said Luscombe. “They’ll do so knowing that they have made a strong investment in their futures. It’s certainly a reason to celebrate for these students and their families, but it’s also a cause for celebration in our communities, our provinces and across our region. The investments we make in publicly-funded colleges have benefits for all of us.”
“Atlantic Colleges Atlantique looks forward to continued collaboration to move our region forward through economic impact and strong return on investment,” she added.
Atlantic Colleges Atlantique (ACA) succeeds the former Atlantic Provinces Community College Consortium, and represents all seven public colleges in Atlantic Canada: New Brunswick Community College (NBCC), Collège communautaire du Nouveau-Brunswick (CCNB), Nova Scotia Community College (NSCC), Holland College, Université Sainte-Anne, Collège de l'Île and College of the North Atlantic (CNA).
Atlantic Colleges Atlantique
: Byron James - Executive Director Byronjamesnb@gmail.com