May 11, 2017
Shannon van Leenen
Media Relations Officer
Bow Valley College improves the lives of Calgarians while contributing to the local economy
CALGARY - Bow Valley College continues to make a significant financial impact on the Calgary region, adding nearly $600 millionin economic activity in 2014-2015 alone, according to a new report. The study also reveals how the College improves the lives of learners, reduces costs for taxpayers and boosts revenue for businesses who hire College graduates.
“This study demonstrates how Bow Valley College is a vital city and region builder that stimulates nearly $600 million in economic activity. Through our operations and the development of a skilled workforce, we create new income in the region,” said Bow Valley College President & CEO, Laura Jo Gunter. “We support local jobs, expand the economic base, return revenues to the local and provincial governments, and improve everyone’s quality of life.”
It makes a compelling case that Bow Valley College is an essential economic contributor to Calgary. Furthermore, a college education improves a learner’s life, benefits Calgary's taxpayers, supports our workforce and creates immense value for Calgary society as a whole.
Taxpayers enjoy a wide range of benefits because of their investment in Bow Valley College. As learners earn more, they pay higher taxes. Employers will also make higher tax payments as they benefit from increased output generated by more productive employees.
At Bow Valley College the focus is on making our learners work-ready. Our learners are much better off with a post-secondary education, raising their earning potential and increasing their employability. Statistics also show that learners with an advanced education are more likely to develop good health habits, commit fewer crimes and depend less on income assistance. Better health and reduced crime rates lead to fewer claims for employment insurance and social assistance.
Bow Valley College serves a range of industries in Calgary and benefits local businesses by increasing consumer spending in the region and consistently providing qualified, skilled workers into the workforce. Businesses that hire Bow Valley College graduates also help the economy because as learners earn more they pay higher taxes, and their spending power increases. Businesses also benefit from the skills Bow Valley College learners provide through added productivity, which increases their company's profits. Today thousands of learners are employed in the Calgary area, generating added income to the region.
Editor's Note: This study was a joint initiative conducted in November 2016 by Economic Modeling Specialist International and Calgary Economic Development. The report was created using data collected from Bow Valley College, Statistics Canada, and the Government of Alberta, for the 2014-2015 fiscal and academic year. Links to PDFs of the full report, executive summary, fact sheets, and benefit sheets can be found below.
Demonstrating the Value of Bow Valley College:
- Executive summary
- EMSI Fact sheet
- EMSI Full report
About Bow Valley College
Bow Valley College - Calgary and region's only Comprehensive Community College - with more than 15,000 full- and part-time students, is a leader in business and health career training, community studies, creative technologies, adult upgrading, and English Language Learning.