West Yorkshire colleges boost local economy by £1.8bn

WEST Yorkshire colleges contribute £1.8bn to the local economy, according to new research.

The research, carried out by economic research specialists, EMSI, showed students from West Yorkshire Colleges can expect higher earnings and reduced chances of unemployment after they complete a course. For every £1 that it costs to be educated at a West Yorkshire College, students receive a £2.80 return in increased earnings, which translates into a 10.3% annual return on their investment, it said.

The survey said that this is combined with the fact that most FE students stay in their local area to work, which supports the growth of local businesses, leading to a higher regional income and a contribution by West Yorkshire students of £1.6bn each year.

Chris Jones, chair of West Yorkshire Consortium of Colleges (WYCC) and principal of Calderdale College said: “We are pleased to have been able to quantify the impact FE Colleges have had on the local economy. The West Yorkshire Consortium of Colleges is focused on working with partners in the Leeds City Region to grow the contribution Colleges make by continuing to address the skills needs of employers.”

Anthony Horne, business development manager for Northern Region from EMSI added: “WYCC are the first group of colleges in the UK to have a collaborative regional economic impact study. The staggering results demonstrate their contribution to the economy and are testament to the strong partnership between the consortium of colleges.”

West Yorkshire Consortium of Colleges (WYCC) includes Bradford, Calderdale, Kirklees, Shipley and Wakefield Colleges together with Leeds College of Building and Leeds City College.

According to WYCC, this is the country’s first ever group study which utilised data from all further education colleges in West Yorkshire.