College adds £400m to economy, says report

AN AWARD-WINNING Welsh FE college contributes more than £400m a year to the economy and has supported hundreds of businesses through a series of major development projects, a new report highlights.

A study by Economic Modelling Specialists International (EMSI) revealed Coleg Cambria generates income equal to 4% of the area’s total economy, representing 18,030 average wage jobs and £353.8m each year for the north east Wales economy.

In the last two years the college has opened £40m of new buildings in north east Wales, creating hundreds of temporary jobs and boosting the local construction sector, the report says.

The £10m engineering technology complex and campus redevelopment in Wrexham; the £14m sixth form hub and £3.36m Aerospace Higher Education Centre in Connah’s Quay, and a £3.5m Business School in Northop are boosting academic standards and local business.

Employing up to 1,000 full and part-time staff, the college also adds significant value to the future of its students; in return for the monies that learners invest in Coleg Cambria, they will receive a value of £333.1m in increased earnings over their working lives, the document adds.

As well as addressing the needs of employers by providing them with staff development opportunities, the college also supplies the local workforce with qualified, trained workers.

“Local businesses benefit from the patronage of Coleg Cambria and it also indirectly benefits taxpayers by generating increased tax receipts and reducing the demand for public sector services,” the EMSI study says.

“The most important value that Coleg Cambria creates, however, is the impact it has on its learners. The experiences they receive have the power to shape the rest of their lives and put them on the path to becoming happy and productive members of their communities.”

EMSI also found the college spends around £17m a year to support its operations, further bolstering the local business supply chain. Its net expenditure locally, including that of its staff, comes to £47m in added income for the regional economy.

David Jones, chief executive of Coleg Cambria, welcomed the findings: “I am delighted to see such a positive report. It’s reaffirming that the hard work our students and staff put into the college continues to have such a huge impact on our communities.

“What is particularly pleasing is the knock-on effect for businesses and the economy, notably in the construction sector.

“We are focused on raising aspirations and developing skills for generations to come, and the findings of this study reflect that.”