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Yukon College contributes $38.4 million to Yukon’s GDP

September 26, 2016

From page 22, Yukon College 2016 Socioeconomic Profile.

WHITEHORSE—Yukon College released a socio-economic profile today which determines that the College represents an estimated $38.4 million impact to Yukon’s Gross Domestic Product (GDP) and is a leader in northern issues.

The profile states that with $22.8 million in 2014-15 core funding, the College generated a further $23 million in third party funded programs, projects and contracts for a total of $46 million in revenues.  $43.8 million of this was spent on personnel and the purchase of goods and services, generating a further estimated $18.4 million in indirect and induced economic activity. This represents a total estimated Yukon College-related economic output of $62.2 million. The total employment impact of Yukon College is 542 full-time equivalent (FTE) jobs.

“The profile highlights that Yukon College is a valued institution that meets many needs. Students can obtain needed skills without leaving Yukon or their job. Businesses, government agencies and First Nations benefit from employees with education and training that is grounded in the North,” said Janet Moodie, interim President and Vice Chancellor, Yukon College.

“In recent years the Yukon Research Centre, Centre for Northern Innovation in Mining and Northern Institute for Social Justice have contributed to significant growth in programming and research. This growth has been driven by requests from Yukon First Nations, industry and the Yukon government, and made possible through a number of diverse and dynamic partnerships,” added Moodie.

The profile found that in 2014-15 the College had 1,211 students enrolled in credit programming, Two-thirds of these aspired to a bachelor’s degree or higher credential. 537 credit students were enrolled in degree, post-graduate and university transfer programs. Another 350 students were enrolled in trades, career and technical programs.

As well, 311 credit students were enrolled in the School of Academic and Skill Development, indicating that providing access to college prep and upgrading courses remains an important part of the College’s role across all 13 campuses.

The profile used a Statistics Canada analysis to estimate that lifetime earnings for bachelor degree graduates are $488,000 higher for men and $296,000 higher for women compared to high school graduates with no post-secondary education. For diploma and certificate graduates the figures are $166,000 higher for men and $121,000 higher for women compared to high school graduates.

The profile also highlights the value of the Yukon Research Centre (YRC), finding that in 2014/15 the Centre generated $8 in additional research funding for every $1 invested by the YRC, and that the YRC raised $1.33 for every dollar invested by the Government of Yukon.

The profile authors also facilitated discussions around the College’s evolution into Yukon University. They found that Yukon residents would like to hear more about the proposed vision for the university. Residents stressed the importance of  maintaining trades and upgrading programming as well as the delivery of programming through campuses in the communities.

“The feedback presented in the profile does not come as a surprise. The concerns raised are understandable given that many of us imagine a more traditional university model. However, Yukon University, like new universities in BC and Alberta, will offer trades, upgrading and college programming alongside new degree programs. Our task now is to communicate this vision to Yukoners—we want the same thing and that is good news overall,” said Moodie.

The 2016 Yukon College Socio-Economic Profile was prepared by the McDowell Group of Alaska and Vector Research of Whitehorse with information from the 2014-15 fiscal year and interviews with College students, faculty and staff, 35 Yukon community and business leaders and five facilitated discussions in Dawson City, Haines Junction, Teslin and Whitehorse in the winter of 2016.

The $113,000 cost to produce the profile was funded by the Government of Canada through the Canadian Northern Economic Development Agency (CanNor), the Government of Yukon through the Department of Economic Development and Yukon College.

The report is available for download on the College website at yukoncollege.yk.ca/about/pages/institutional_research_and_planning/.

To learn more about the university transition please visit yukoncollege.yk.ca/universityplanning/.