Economic Impact

Lakeland College adds $130.6 million to economy

In 2019-20 Lakeland’s economic impact was $130.6 million dollars.

Lakeland College helps fuel the economy in 3 ways.

Lakeland operations
alumni impact
student spending

Economic impact chart showing breakdown of Lakeland College operations, alumni impact and student spending.

2019 Economic Impact Chart Lakeland College

Lakeland operations — $66.7 million

Lakeland is a major employer in the region. It's also one of Alberta's Top 70 employers. More than 400 full-time employees results in $42 million in salaries and benefits.

Millions are also added to the economy from Lakeland’s spending on:

construction
services
supplies

Alumni impact — $61 million

Education and training Lakeland provides also boosts the economy.

A Lakeland education leads to:

higher earnings for alumni. On average, Lakeland alumni earn $9,000 more per year than people without a post-secondary education.
increased productivity in the businesses where they work

Our alumni, no matter where they came from, tend to stay in the area. Almost 60 per cent of Lakeland alumni live in Alberta.

Student spending — $2.9 million

What Lakeland students spend generates revenue in our local communities. They buy:

housing
food
fuel and travel
supplies
entertainment

Other key findings

Lakeland's role in Alberta’s economy is through measurable and non-quantifiable means.

The 2021 study pinpointed Lakeland's quantifiable impacts in 2019-20 as:

1,045 program completions
3,298 student enrolments in credit programs
employing more than 400 full-time staff

Not as easy to calculate, but also affecting the economy were:

a strong mix of programs aligned with local workforce needs
graduates with increased economic mobility and earnings power
regional stewardship and viable pathways to higher education
community access to research support and facilities

About the study

Data is from a 2021 report by Hanover Research.

The economic impact report analyzes the economic contribution of Lakeland College to Alberta through a supply-side analysis. Analysis was organized into 3 main components:

Academic impact of Lakeland College’s academic programs on Alberta, including snapshots of student enrollment and support.
Alumni impact Lakeland alumni have on the community, including estimated additional earnings as a result of receiving a credential from Lakeland.
Community engagement and impact of Lakeland’s programs, research, and COVID-19 related support on the Alberta community.

Hanover’s analysis includes both quantifiable and non quantifiable data to determine Lakeland College's role in Alberta’s economic recovery, particularly in a post-COVID world.

Read the report summary as an e-document.