Economic Impact
"The Colleges in the Black Country return £1.60 for every pound of taxpayer financial support".
The seven colleges play a significant role in contributing to and stimulating the regional economy. Across the Black Country, Birmingham and South Staffordshire, this equates to around 2.3% of the total regional income - some £702 million a year.
The benefits are widespread. Students and learners gain from improved lifestyles and higher salaries. Taxpayers benefit from a larger economy and lower social costs.
The wider community enjoys better job and investment opportunities, business wins thanks to higher revenues, there is greater availability of public funds and a smaller tax burden.
The collective payroll and spending of our colleges adds more than £115 million into the Black Country, Birmingham and South Staffordshire region.
In the year 2006/07 a total of 72,625 full and part-time learners attended the colleges. Nearly all stay in the UK and with their college-trained skills input into the national economy.
Many travel or move to the region to study and these learners alone spend £2.7 million while here - on items such as books, food, rent and other personal expenses.
The skills and qualifications obtained by those learning through the Colleges in the Black Country accumulate over time leading to increased skill levels within the local workforce which in turn generate higher earnings and improved productivity for the companies they work for.
