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A recently-released report shows that a Portage College education can go a long way – for students, taxpayers, and society. Conducted by Idaho-based Economic Modeling Specialists International (Emsi) using 2015-2016 data, the report shows that for every $1 students invest in their Portage education, they will receive $4.60 back in higher future earnings. This translates into an annual return of 21.1%, significantly higher than the less than 1% return in a standard bank savings account.
“This is very good news for our students and shows the tremendous value of a Portage College education,” said Interim President and CEO Nancy Broadbent, noting that the study highlights that the average Portage diploma graduate will earn $15,400 more than a high school graduate at their career midpoint.
The study also shows that the College, its students and alumni is a huge driver of the regional economy, adding $110.2 million in income to the area in 2015-2016. The added income directly supported 1,062 jobs in the region.
“For perspective, this means that one out of every 40 jobs in the Portage Service Region is supported by the activities of Portage College, its students, and alumni,” note the report’s authors.
The largest impact is from alumni, who generated $79.2 million in added income and supported 752 jobs in 2015-2016. The results are consistent with Portage’s own annual graduate survey. The latest iteration showed that 70% of the Class of 2016-2017 are living, working and studying in the region.
“The Emsi study clearly confirm the importance of Portage College to the region,” said Broadbent. “We are an integral part of the communities, people and province that we serve and will be for generations to come.”