NOTE: This content is old - Published: Monday, Apr 9th, 2018.
AN award-winning college contributes more than £400m a year to the economy and has supported hundreds of businesses through a series of major development projects.
In the last two years alone, Coleg Cambria has opened £40million of new buildings in north east Wales, creating hundreds of temporary jobs and boosting the local construction sector.
The £10 million engineering technology complex and campus redevelopment in Wrexham; the £14m sixth form hub and £3.36m Aerospace Higher Education Centre in Connah’s Quay, and a 3.5m Business School in Northop are all improving the academic and social experience for students and staff, as well as boosting a supply chain that works closely with the college.
The most recent study by Economic Modelling Specialists International (EMSI) revealed Cambria generates income equal to 4% of the area’s total economy, representing 18,030 average wage jobs and £353.8m each year for the north east Wales economy.
Employing up to 1,000 full and part-time staff, the college also adds significant value to the future of its students; in return for the monies that learners invest in Coleg Cambria, they will receive a value of £333.1m in increased earnings over their working lives.
The report finalised: “Coleg Cambria creates value from multiple perspectives. The college addresses the needs of employers by providing them with staﬀ development opportunities and supplying the workforce with qualiﬁed, trained workers.
“Local businesses beneﬁt from the patronage of Coleg Cambria and it also indirectly beneﬁts taxpayers by generating increased tax receipts and reducing the demand for public sector services.
“The most important value that Coleg Cambria creates, however, is the impact it has on its learners. The experiences they receive have the power to shape the rest of their lives and put them on the path to becoming happy and productive members of their communities.”
EMSI also found the college spends around £17m a year to support its operations, further bolstering the supply chain. Its net expenditure locally, including that of its staff, comes to £47m in added income for the regional economy.
David Jones, Chief Executive of Coleg Cambria, welcomed the results and said they will announce further developments in the coming months that will benefit students and businesses in the region, helping to sustain long-term growth.
“I’m delighted to see such a positive report, it’s reaffirming that the hard work our students and staff put into the college continues to have such a huge impact on our communities,” he said.
“What’s particularly pleasing is the knock-on effect for businesses and the economy, notably in the construction sector.”
Mr Jones added: “We have opened new facilities as part of our overall strategy, as we grow both academically and in terms of our geographic footprint, which shows the commitment we have to north east Wales and our partners.
“We are focused on raising aspirations and developing skills for generations to come, and the findings of this study reflect that.
“We will continue to work hard to make sure Coleg Cambria not only enhances the lives of its staff and students, but also the many families and individuals who are directly and indirectly affected by our success.”