Economic impact analysis shares how Sask Polytech plays an essential role in the provincial economy
December 18, 2019 – Saskatchewan Polytechnic’s commitment to educate students and provide skilled and
successful graduates has a total impact of $2.2 billion on Saskatchewan’s economy.
This is the finding of a new economic impact analysis completed by Emsi, a labour
market analytics firm.
The Economic Value of Saskatchewan Polytechnic, contains a wealth of data, on topics ranging from the impact of student spending and applied research activities to how Sask Polytech contributes to the social good of Saskatchewan.
“This analysis shows that Saskatchewan Polytechnic plays an important and essential role in Saskatchewan’s economy,” says Dr. Larry Rosia, president and CEO. “For example, one out of every 24 jobs in Saskatchewan are supported by the activities of Sask Polytech, its students and alumni. Equally impressive is that the $2.2 billion impact on the provincial economy is approximately 3.1 per cent of Saskatchewan’s total gross provincial product, which is a larger contribution than the utilities industry.”
Other highlights from the 2018-19 analysis include:
- The average diploma graduate from Sask Polytech will see an increase in earnings of $13,300 annually compared to a person with a high school diploma or equivalent working in Saskatchewan.
- Over his or her lifetime, a Sask Polytech graduate will earn more than $505,000 than someone who holds a high school diploma.
- Sask Polytech is a good investment for taxpayers. On average, taxpayers will see a 12.4 per cent annual internal rate of return for every tax dollar spent to support Sask Polytech.
More information about the analysis can be found online at saskpolytech.ca/economicimpact.
The results of the analysis reflect data from the 2018-19 fiscal year. Sask Polytech promotes economic growth in Saskatchewan through its direct expenditures and the resulting expenditures of students and provincial businesses. Sask Polytech is a primary source of post-secondary education to Saskatchewan residents and a supplier of trained workers to provincial industries, enhancing overall productivity in the provincial workforce.
Saskatchewan Polytechnic serves students through applied learning opportunities at
campuses in Moose Jaw, Prince Albert, Regina and Saskatoon, and through extensive
distance education opportunities. Programs serve every economic and public service
sector. As a polytechnic, the organization provides the depth of learning appropriate
to employer and student need, including certificate, diploma and degree programs,
and apprenticeship training. Saskatchewan Polytechnic engages in applied research,
drawing on faculty expertise to support innovation by employers, and providing students
the opportunity to develop critical thinking skills.