A new report has found that The Sheffield College has a £282.5 million impact on the regional economy, equivalent to 1% of Sheffield City Region’s Gross Regional Product.
The research investigates the benefits that the College generates in return for the investments made by its students, businesses, taxpayers and communities.
‘Demonstrating the Value of The Sheffield College’ was commissioned by the College and produced by research consultancy Economic Modelling Specialists International.
It found that employers received £1.30 in return for every £1 invested in the College’s apprentices, as those apprentices became more competent, skilled and productive.
“We know that we have a major impact on students, inspiring them to go further in their careers, as well as businesses in the city. This report illustrates the financial value of that,” said Angela Foulkes, Chief Executive and Principal of The Sheffield College.
“Many of our students originate from and stay on in Sheffield. Their enhanced skills and abilities bolster the output of local employers contributing to higher regional income and a more robust economy.”
Emily Moncuit, Associate Regional Director, Yorkshire and the Humber, CBI, added: “It’s great to see the impact of The Sheffield College on learners’ skills and career prospects.
“This is testament to the vital role of the further education sector in supporting employers and the regional economy.”