In this issue ...
« Front page
« Pollution monitor
« Capital Campaign
« Fanshawe's ROI
« Integrating immigrants into the workforce
« PATT program
« KPI survey
« Business students pass CGA exam
« President's Distinguished Achievement Awards
« Library databases
« College Council
« College Policy Manual
« Benefit changes
« Fitness 101 news
« Curling champ
« Labatt Relay
« Chilly Road Races
« Lottery winner

Fanshawe College is one of the economic engines that helps drive London and region. It also offers a remarkable return on investment.

The Fanshawe portion of a province-wide study of the economic effects of Ontario’s Colleges of Applied Arts and Technology reveals the depth of Fanshawe’s impact on the regional economy. It also shows that the two biggest investors in Fanshawe College - Ontario taxpayers and students who pay tuition - achieve outstanding returns on their investment.

"It is something we’ve suspected for some time," said Dr. Howard Rundle, President of Fanshawe College, "but I am delighted that we now have the solid figures to back up what we knew intuitively. Fanshawe College is a great place to invest if the province and its taxpayers want solid returns."

The rate of return on investment (ROI) by Ontario taxpayers, who invest through provincial funding of Fanshawe, was calculated to be 15%. That return comes in the form of increased tax revenues as graduates earn higher salaries and consequently pay more in taxes. Taxpayers recoup their full investment in a Fanshawe student in just 8.9 years.

The ROI for students who "invest" their time and tuition dollars (based on 2002 figures) at Fanshawe was 9.8%.

The province-wide study conducted by CCbenefits, Inc. also reveals Fanshawe’s importance to our regional economy. Six per cent of $13.9 billion in total earnings that were generated in our economic region in 2002 were attributable to the College. Those earnings included wages paid to the staff and faculty of Fanshawe College, plus the increased earnings (compared to high school graduates) of Fanshawe grads who still work in the communities served by the college.

The complex study also shows how the presence of a College in the Middlesex, Elgin, Oxford and Norfolk areas results in $11.0 million worth of avoided costs as the result of improved health, reduced crime and less unemployment.

"It’s a tremendously detailed study that has been very thoughtfully produced," said Dr. Rundle. "It’s a lot of numbers to crunch, but they all add up to two significant findings. Fanshawe and its graduates make an enormous contribution to the communities it serves and Fanshawe offers a return on investment that is nothing short of remarkable."

After noting that he wished his personal investments offered comparable returns to those of Fanshawe Dr. Rundle said the study information will be very useful. "The study results give us a strong case for continued and increased investment by the province in Fanshawe and all Ontario’s colleges."

For further information please contact Dr. Howard Rundle at 519 452-4200 or for assistance, Emily Marcoccia at 519 452-4494.

• Executive Summary - The Socioeconomic Benefits Generated by Fanshawe College, Province of Ontario
• Investing in Ontario's colleges drives economic growth, says independent report (ACAATO media release)