Camosun College injects over $1 billion into Victoria economy each year; Student satisfaction rates reach 92.9%

Media Release
Release Date: November 20, 2013

Camosun is an educator, employer, innovator, contributor and key economic driver. After 40 years, Camosun's economic contribution to the local community and the province has grown to over $1.2 billion annually, according to a new economic impact study commissioned by the college earlier this year.

An Analysis of the Economic Contribution of Camosun College, by Gardner Pinfold Consulting Inc., shows that direct and indirect college, student and employee spending combined with the accumulated productivity of Camosun graduates, results in an overall economic impact of $1 billion for the Victoria economy or $1.2 billion for the provincial economy every year. Their findings were based on the 2011/12 academic fiscal year. The study also focused on Camosun's return on investment from the perspective of graduates and taxpayers.

With an operating budget of $105 million, approximately 919 full-time on-campus employees serving close to 20,000 students, including more than 800 international students and 13,500 visitors a year, Camosun is a key contributor to the regional economy.

A copy of the full report is available online at:  camosun.ca/economic-impact

Camosun delivers on strategic commitments to students and community
Camosun's annual Accountability Plan and Report showcases key milestones and demonstrates Camosun's effectiveness in delivering exceptional, life-changing post-secondary education as directed by the Inspiring Lives strategic plan. This report illustrates how we serve the diverse needs of students and community, and how we deliver on our vision of being Canada's college of life-changing learning.

Stats that count
Camosun's student satisfaction levels at 92.9%; College utilization rates exceed 100% (as set by Ministry targets); Aboriginal student population is at 5.5% (more than 1,000 students), compared to the regional population percentage of 3.3%.

Details that matter
Camosun offers:  more than 160 certificate, diploma, bachelor's degree, post graduate diplomas and continuing education programs; award-winning curriculum development; rising international enrolments that enriches campus life, builds cultural awareness and creates a global perspective, while contributing to the college revenues; an energy savings plan that reduces spending and fast-tracks the greening of Camosun.

In an era where graduates with post-secondary education PLUS applied skills have a competitive advantage, and where every invested dollar matters, it's imperative that Camosun be accountable to learners, community, supporters and government.

A copy of the full report is available online at:  camosun.ca/accountability

Contact

Joan Yates
Vice President, Communications, Advancement & Planning
Camosun College
250-370-4296
yates@camosun.bc.ca

Backgrounder

More on the Economic Impact report

• Camosun alumni enjoy a 15% annual rate of return on their educational investment every year, and recover their educational costs within nine years. Besides higher earnings of graduates, the community as a whole also benefits from the higher education Camosun provides in the form of improved health and lifestyle habits, lower crime rates, lower incidences of welfare and unemployment.
• Based on government grants of $61 million in 2011/12, the analysis showed for every taxpayer dollar invested, Camosun generated $5 in personal or business income locally.
• Camosun's expenditures on labour and non-labour operations directly inject $77.1 million into the local economy each year, while the college also spends another $36.1 million on capital (construction) projects. As well, college activities and expenditures expand to create a total 1,855 full-time jobs across the province.
• "Camosun College is an invaluable educational resource for our community as well as an important economic stimulator and a sound return on investment," says Camosun President Kathryn Laurin. "Our students benefit from improved lifestyles and increased earnings. Taxpayers benefit from an enlarged economy and lower social costs. Our community as a whole benefits from increased employment opportunities, higher business revenues and an eased tax burden."
• A previous 2007 study put Camosun's economic impact at approximately $816 million annually. Since then, the college has grown in number of students, employees, program offerings and applied research activities.
• The new report employed the same methodology used in the 2007 study for comparison purposes, utilizing the BC Stats Input-Output (I-O) Model economic impact analysis.
• The new report employed the same methodology used in the 2007 study for comparison purposes, utilizing the BC Stats Input-Output (I-O) Model economic impact analysis.

More on the Accountability Plan and Report
Camosun is leading the way on many fronts:

• Curriculum development: E-pprentice Professional Cook Training apprenticeship program takes gold at Association of Canadian Community Colleges awards ceremony. Developed on campus by curriculum specialists, e-pprenticeships revolutionize traditional hands-on learning by taking the teaching out of the classroom and into students' home communities.
• Applied Research and Innovation: Leveraging more than $6M in research grants and awards in six years, Camosun's research specialists provide local industry with unmatched access to highly skilled faculty and students, exceptional facilities and sophisticated prototyping and 3-D imaging equipment.
• Environmental Sustainability: The new Office of Environmental Sustainability completed a Carbon Neutral Action Report, outlining greenhouse gas reductions, electricity savings, and carbon offset compensation that contributed to the financial bottom line while creating a greener campus.
• Centre for Trades Education & Innovation: With a heightened public interest in the predicted skills gap, and more than $29M received in funding from the BC Jobs Plan to renew and enhance existing trades facilities, Camosun's new trades education centre promises to revitalize trades education on the lower Island.
  
• Indigenization and Aboriginal Access: Indigenization introduces Indigenous ways of knowing, being, doing and relating into the educational, organizational, cultural and social structures of the college, broadening our world views and creating a welcoming presence for Aboriginal learners. More than 1,000 Camosun students are of Aboriginal descent, representing more than 50 Nations, and including Métis and Inuit groups. This equates to 5.5% of all students, compared to the regional population percentage of 3.3%

For more information visit:
www.camosun.ca/economic-impact
www.camosun.ca/accountability