Durham College set to generate more than $1.4 billion in economic growth for Durham Region by 2015 Posted on February 15, 2011 at 8:08 pm. Study shows college will continue to be a critical driver of revenue for local economy February 15, 2011 Oshawa, Ont. – The results of a recent economic impact study administered on behalf of Durham College indicate the college is poised to generate economic activity for Durham Region valued between $1.275 and $1.470 billion over the next five years including $382.5 to $441 million in the City of Oshawa and $280 to $325 million in the Town of Whitby. “Durham College’s commitment to Durham Region over the next five years has never been stronger,” said Don Lovisa, president, Durham College. “While we continue to focus on our mission that the student experience comes first we are also proud to play a key role in increasing the economic prosperity of Durham Region while supporting employment for individuals living in our communities and helping to grow the operating budgets of our local governments.” The results of the study, which was conducted by Adventus Research Inc. and shared with the college’s board of governors on February 9, show the college will continue its role as a critical driver of revenue for Durham Region, generating an estimated $255 to $294 million annually based on a number of different calculations including estimated constructions costs, projected employment opportunities, population data, staff and faculty expenditures, student non-college spending and visitors to the college. Of this, between $76.5 and $88.2 million will be injected into Oshawa and $56 to $65 million into Whitby on an annual basis. “Durham College has always been a cornerstone of our community; educating many individuals who have gone on to become very successful,” said Roger Anderson, chair and chief executive officer of the Regional Municipality of Durham. “This study outlines a wonderful future for Durham College. We look forward to the positive short- and long-term impacts it will have on both our residents and local businesses.” “The Town of Whitby very much appreciates the significant contribution Durham College makes to our economy,” said Pat Perkins, mayor of the Town of Whitby. “The important role they play in ensuring that we have a skilled workforce that attracts businesses and allows our existing businesses to thrive in an increasingly competitive environment cannot be overestimated.” “I am amazed every time I drive by Durham College’s facilities and see the growth that has occurred over the years,” said John Henry, mayor of the City of Oshawa. “The economic growth of the college has gone a long way toward re-inventing the economy of the City of Oshawa.” -30- About Durham College At Durham College, the student experience comes first. In September 2010, the college welcomed more than 30,000 students to campus including more than 7,400 full-time post-secondary students as well as part-time, Second Career and continuing education students; apprentices; and online learners. The college offers a wide range of market-driven programs in a number of different disciplines including business, information technology, energy, media, art, design, general arts and sciences, skilled trades, justice, emergency services and health care, enabling them to develop the skills required to meet the demands of today’s job market. A three-phase expansion of the college’s Whitby campus is currently underway. Phase 1 opened in September 2009 and Phase 2, nearing completion, is creating expanded shop space for several building trades and will also feature two homes where students will learn about sustainable construction and building. Phase 3 be a building focused on food, hospitality and tourism. In addition, a new Student Services building opened at the Oshawa campus in January 2011. For more information, visit www.durhamcollege.ca or call 905.721.2000. Media contact: Allison Rosnak Communications officer Durham College 905.721.2000 ext. 2333 allison.rosnak@durhamcollege.ca Disclaimer: The contact information provided in archived news releases was current at the release date. For current information please contact Communications, Marketing and External Relations. SHARE:
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