NEWS RELEASE
NORTHERN COLLEGE
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HAILEYBURY - Northern College is pleased to announce the quantification of its economic impact in the community of Haileybury and the surrounding areas following an in-depth study of our impact and economic presence in our home communities.
The results of an economic impact study conducted on Northern College’s Haileybury Campus were published by the college today. Northern College – Haileybury Campus creates a significant impact on the business community and generates a return on investment to its major stakeholder groups – students, taxpayers and society.
Using a two-pronged approach that involves an economic impact analysis and an investment analysis, the study calculated the benefits received by each of these groups during the reference year 2016-2017, the year for which complete financial data was available.
During the analysis year, Haileybury Campus and its students added $23.8 million in income to Northern College’s catchment region economy. The unique programs located at the Haileybury Campus, including its signature program Veterinary Technician and its four related veterinary science programs, attracted 207 students who relocated from outside the region or from outside of Canada to attend the Haileybury Campus.
These students while purchasing tuition and books, also paid for rental accommodation, groceries, transportation and personal living expenses, thereby supporting 317 jobs throughout the region.
The campus’s annualized payroll during the reference year totaled $5.4 million and employed 99 full-time equivalent employees. Further direct college expenditures of $814,000 supported day-to-day operations over the course of the year.
Over the years, hundreds of Northern College Haileybury Campus graduates have entered or re-entered the local workforce. Today the accumulated contribution of former students currently employed in the regional workforce amounts to $16.9 million in added income, as calculated during the reference year.
“The reputation for its industry acclaimed programs and high caliber graduates that Northern College, Haileybury Campus has produced is well known throughout Canada and internationally,” commented Dr. Fred Gibbons, President and CEO. “Completion of this study now quantifies and provides a detailed economic impact assessment of the powerful influence the college and its graduates have throughout the region.”
United States based Emsi conducted the study during the first quarter of 2018.
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