Berkshire: Report quantifies economic impact of Newbury College at £63.4m annually
A report commissioned by Newbury College has quantified its economic impact on the local business community at an annual £63.4 million.
The financial benefits it brings to its main stakeholder groups (learners, taxpayers and local businesses) include a yield of £4.50 in higher future wages on every £1 that learners pay for their education at the College, which represents an 18.1% annual rate of return on investment; and £5.70 in benefits for every £1 investment in the College, which represents a 22.8% annual rate of return.
Dr Anne Murdoch OBE, principal of the College, said: “As the primary further education college in West Berkshire, we felt it important for everyone in the area to understand the role we play in the local economy and to see the positive benefits we create both as an education provider and employer.”
The report, published in March, was carried out by Economic Modelling Specialists International (EMSI), using a model that applies investment and regional economic investment analysis.
