A new economic impact study commissioned by the college shows that over $1 billion annually gets put into the Victoria economy due to direct and indirect contributions from Camosun.
The study, conducted by Gardner Pinfold Consulting, was partially a strategic move by the college and was commissioned by the office of Joan Yates, Camosun’s vice president of communications, advancement, and planning.
“It certainly highlights really well the role that we play in the community,” says Yates. “We wanted to understand all of that because it gives you considerable leverage when you’re having conversations with influencers and business, industry, and government decision-makers in the community.”
Yates says the college wanted to pinpoint how much they contribute to the community through their programs, but also as an economic entity.
“We spend a lot of money in this community,” she says, “and as you can see in the study, it’s quite substantial what we do here.”
The study found that Camosun alumni enjoy a 15 percent annual rate of return on their educational investment every year and recover their educational costs, on average, within nine years. It also noted a student satisfaction rate of 92.9 percent, something that has been steady for about five years, says Yates.
“We’ve been seeing satisfaction rates as quite healthy for some time now,” says Yates, “certainly not in every area, but overall the fact that students keep coming, that our numbers are increasing, and that our retention rate is so good would lead us to believe that students, by and large, are satisfied with the education they are getting.”
The study can be found at camosun.ca/accountability.