Bedford College recently commissioned EMSI (a leading
American organisation) to measure our impact on the local economy.
The results concluded that:
The community as a whole benefits from economic
growth
Bedford College is responsible for generating
£58.5 million for the local economy due to the past and present
efforts of our students. Bedfordshire’s economy receives roughly
£13.8 million in income annually thanks to our operations and
capital spending. Our students spend a total of £1.2 million on
books, stationery and other equipment while attending College,
resulting in roughly £806,900 in income for the region.
Taxpayers benefit from an enlarged economy and lower social
costs
The UK will avoid social costs amounting to
£100 per year for every qualification gained by a Bedford College
student – savings associated with improved health, reduced crime
and fewer income assistance claims. This equates to £599,000 each
year.
Learners benefit from improved lifestyles and increased
earnings
The average annual earnings of one of our
students who achieves a BTEC National Diploma, two A Levels, or an
equivalent Level 3 qualification is £21,900, which is 38% more than
someone without a formal qualification.
Investing in your future
For every £1 that is
invested in a Bedford College education, the average student will
receive one-and-a-half times higher future earnings over their
working career.