When it comes to the economy, it looks like Durham College is helping to bring in money for the region. Durham is benefiting from the school’s strong connection to the community.
For more than 50 years, Durham College has been a staple in the region, helping drive the local economy.
A recent economic impact study by Economic Modeling Specialists International shows that one in 24 jobs in the region are supported by the college; that works out to 9,500 people.
“It’s definitely something we’re proud of to see this commitment. The impact of students and whether they’re studying and the economic drive that they bring in when they come to study in the region and also work part-time and that contribution as well as after they graduate,” said Peter Garrett, Durham College government relations adviser.
The Economic Modeling Specialists International, or Emsi data, shows that the school has a $913-million annual impact. An increase of about $100 million compared to four years ago.
“It’s really an indicator as well as the strong impact that our alumni have on the community and it also strengthens and reinforces the concept that higher education leads to higher economic growth,” said Garrett.
“For each of their key stakeholders, those being students, taxpayers and society, they are above average in the study we conducted this year alone in Ontario,” said Maria Carrillo, an Emsi economist.
But the economic impact can also be felt trickling down in on-campus construction and off-campus businesses.
“You’re not just talking about a school today that does great things in our community, you’re talking about 51 years of success where people have gone off to live and I’ve been told as many as 50 per cent of the alumni of Durham College live within the boundaries of Durham Region,” said Oshawa Mayor John Henry.
While it’s hard to say what the numbers will look like when Emsi conducts its next study in four years, both the college and the region are optimistic for the future.