The key findings show that for every £1 invested in the College, there is a benefit to society of £4.60.
The overall impact of the College is worth £282.5 million in added income in the region, equivalent to 1% of Sheffield City Region’s Gross Regional Product.
The research investigates the benefits that the College generates in return for the investments made by its students, businesses, taxpayers and communities.
Demonstrating the Value of The Sheffield College has been commissioned by the College and produced by Economic Modelling Specialists International (EMSI), an independent research consultancy.
The report findings were unveiled during a launch event, on February 14th, at the College’s Silver Plate Restaurant, City Campus, Granville Road, attended by employers, Sheffield City Region LEP and College staff and governors.
Angela Foulkes, Chief Executive and Principal of The Sheffield College,said: “We know that we have a major impact on students, inspiring them to go further in their careers, as well as businesses in the city. This report illustrates the financial value of that."
She added: "Many of our students originate from and stay on in Sheffield. Their enhanced skills and abilities bolster the output of local employers contributing to higher regional income and a more robust economy."
Emily Moncuit, Associate Regional Director, Yorkshire and the Humber, Confederation of British Industry, added: “It’s great to see the impact of The Sheffield College on learners’ skills and career prospects. This is testament to the vital role of the further education sector in supporting employers and the regional economy.”
The College promotes economic growth in Sheffield City Region in a variety of ways, according to the EMSI report, which is based on annual data from 2017/18.
During the analysis year:
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