A new province-wide study done by Economic Modeling Specialists International (EMSI) shows that Alberta colleges make a significant impact on the provincial economy.
Alberta colleges, referred to as Comprehensive Community Institutions (CCIs), added $4.8 billion to the economy in 2015-16.
The study also shows that CCIs created $599.4 million dollars in income during day-to-day operations, which is equivalent to 5,968 jobs.
Graduates not only see the financial impact, but also tend to develop good health habits and commit fewer crimes saving saving the province $87.2 million. The study said those with college diplomas make $17,300 more annually than someone with a high school diploma.
Businesses are also benefited through consumer spending when they hire college graduates. The study said once students achieve their educational goals approximately 90 per cent of students stay in Alberta, build careers, families and communities. Former college students employed in the province amounted to $4.1 billion in added income or 35,600 jobs during the same analysis period.
The study was based on data from the 11 colleges and focused on the impact students make in the community.