Lakeland adds $120M to local economy

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July 13, 2017
Lakeland's students & alumni added $119.9 million to the local economy which is equivalent to supporting 2,524 jobs in the Lakeland service area according to an economic impact study completed by emsi
Lakeland College's contribution is more than influencing the lives of students. Lakeland also has a positive impact on the regional economy by generating value in return for the investments made by its major stakeholder groups—students, society and taxpayers.

Lakeland’s payroll plus day-to-day operational spending added $51.6 million in income to the local economy. In addition, the impact of student spending during the year generated $5.1 million in new income.

“This study demonstrates that the difference Lakeland College makes in the lives of our students has an incredible effect in the region. The Lakeland Service Area contributes to our quality of life in many ways, so we are grateful for the support of the community,” says Alice Wainwright-Stewart, president and CEO, Lakeland College.

Students receive increased earnings

Lakeland served 8,111 students in the study year. In return for their investment in Lakeland, they developed the skills essential to excel in the workplace and will make more money.
  •  For every dollar they invested at the college, Lakeland students will receive a cumulative return of $4.70 in higher future earnings over the course of their working careers.
  • As long as those students remain active in the provincial workforce, society will receive a cumulative value of $6.10 in benefits for every dollar they spend on education from Lakeland.
The report also highlights the contributions of Lakeland alumni. Former students working in the regional workforce contributed $63.3 million in added income.
Additional benefits
  • Over the students’ working lives, provincial society will receive a present value of $555.5 million added income.
  • Society will also benefit from $5.4 million present value social savings related to reduced crime, fewer demands for income assistance, and increased health and well-being across the province.
  • Savings to the public sector add another $2 million in benefits due to a reduced demand for government-funded social services in Alberta.
  • For every dollar spent by taxpayers, they receive $2.40 in added taxes and public sector savings.
Emsi is an economic modelling firm that uses labour market data to connect and inform people, education, and business. It collects and integrates complex data and builds user-friendly tools to make the data simple to understand and apply at the local level. Its tools also help explain all facets of employment and economic trends—industries, occupations, demographics, economic impacts, and even skills, job compatibility, educational attainment, and more—at any level of geographic detail.​