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Region's Colleges To Boost Local Economy

Updated: 01/10/2015

Colleges across Sheffield City Region are working together to provide education and skills training and boost the economic growth of the areas.

Region's Colleges To Boost Local Economy

Pictured: College Principals from across the region

Colleges across Sheffield City Region are working together to provide education and skills training and boost the economic growth of the areas.

Principals from the region’s colleges signed a memorandum of understanding outlining how the partnership will work, at a meeting on Friday September 25th. 

Barnsley College, Chesterfield College, Dearne Valley College, Doncaster College, North Nottinghamshire College, Northern College, Rotherham College of Arts and Technology and The Sheffield College are working together as the Sheffield City Region’s Further Education Providers alongside the region’s Local Enterprise Partnership (LEP).

LEPs are voluntary partnerships between local authorities and businesses set up in 2011 by the Department for Business, Innovation and Skills to help determine local economic priorities and lead economic growth and job creation within the local area.

Paul Corcoran, Chief Executive, The Sheffield College, said: “Signing this memorandum of understanding is a great example of how colleges in the region can work together for the benefit of employers and students. Together we can provide the right education and training packages that meet the region's skills development needs to help increase employment, productivity and economic growth.”

 

Martin Harrison, Chair of the Sheffield City Region Further Education Providers group, said:“The LEP Growth Plan sets out the region’s intention to transform the local economy over the next decade and at the heart of this plan is the creation of 70,000 new private sector jobs and 6,000 new businesses. The key areas for growth include advanced manufacturing, construction, financial and business services and sport, leisure and tourism."

 He added: “The region’s colleges have committed to working together to play a leading role in the development of the skills needed to underpin growth in these sectors. Each college has its own unique resources and competences that can be used to meet the group’s objectives and signing the memorandum of understanding is a real positive step in working in collaboration.”

Sheffield City Region colleges add value to the region in a variety of ways. On average, learners at Sheffield City Region colleges will receive a cumulative £6.20 in higher future earnings for every £1 invested in the member colleges, for example, in the form of tuition fees and forgone time and earnings.

The skills and qualifications acquired by former learners of Sheffield City Region colleges bolster the economy by increasing employer outputs and adding around £1.6 billion in income to the regional economy per year. Society will receive £5.80 in return for every £1 invested in Sheffield City Region colleges. The average annual return on investment is 18.2%.

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