Local MSP Christian Allard has welcomed new findings which conclude that North East Scotland College creates an income of £406 million per year for the region’s economy.
The analysis revealed that for every £1 spent investing in the college £5.80 is gained in lifetime higher earnings for learners, £1.90 is gained in added income and savings to society and £3.90 is gained in added tax receipts and avoided costs to taxpayers.
The net impact of staff and College expenditure in the North East Region comes to approximately £38.7 million in added income for the regional economy each year.
Analysis also shows that the accumulated contribution of former North East Scotland College learners who are currently employed in the regional workforce amounts to £360.9 million in added income.
Mr Allard said: “It is particularly pleasing to see that the college spends a considerable sum on goods and services in the North East.
“I am sure that local fishing and farming communities can benefit from having such institutions spending money on their products.
“The economic contribution of the college stands at £406.4 million each year – this is a valuable asset to the North East.”