Economic Impact
In the Community
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Lakeland College
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Lakeland generates a $225.7 million economic impact each year
In 2023–24, Lakeland contributed $225.7 million to the Lakeland Service Area, supported nearly 2,400 jobs, and created long-lasting value for students, taxpayers, and society.
Lakeland’s $225.7 million impact comes from:
Operations spending impact
College payroll, goods and services, construction and other spending + ripple effects
$58.5 M
Added regional income
Student spending impact
Relocated/retained student spending + ripple effects
$4.6 M
Added regional income
Alumni impact
Higher alumni earnings and increased business profit + ripple effects
$162.6 M
Added regional income
A Lakeland education pays off for everyone
- Students: For every dollar invested, students gain $2.50 in higher future earnings.
- Taxpayers: For every public dollar invested, taxpayers receive $2.50 in added revenue and government savings.
- Society: For every dollar invested, Alberta gains $5.60 in value through economic growth, future earnings and private and social savings.
"Lakeland drives economic growth. We support the region through our operations, by providing a skilled workforce, and driving local spending, while students benefit from higher lifetime earnings and expanded opportunities. Taxpayers see returns through stronger tax revenues, and society gains from a more prosperous economy."
- Adam Waterman, chair of Lakeland’s Board of Governors
Explore the report
About the study
The report was completed in June 2025 by Lightcast, a labour market analytics firm. For the purposes of the analysis, the Lakeland Service Area is comprised of Census Divisions 7 & 10. Data and assumptions used in the study are based on several sources, including the fiscal year 2023-24 academic and financial reports from Lakeland, industry and employment data from Statistics Canada, outputs of Lightcast’s Canadian Regional Input-Output model, and a variety of studies and surveys relating education to social behaviour. The study applies a conservative methodology and follows standard practice using only the most recognized indicators of investment effectiveness and economic impact.
