College described as the 'Engine of Economic Growth'
A recently commissioned survey* has confirmed the significant economic impact CRC has on the local region and its communities. The report concludes: "CRC is a sound investment from multiple perspectives. The College enriches the lives of learners and increases their lifetime incomes. It benefits taxpayers by generating increased tax revenues from an enlarged economy and reducing the demand for taxpayer-supported social services. Finally, it contributes to the vitality of both the local and national economies."
Key findings of the report:
- For every £1 allocated to CRC, taxpayers see a return of £1.50;
- £75.9m of total income in the Cambridgeshire economy is due to the efforts of CRC and its learners. (2006-7);
- Clearly the College is an engine of economic growth;
- Learners generate £4.1m annually in higher earnings due to their CRC education
- Learners see a 7% annual return on their educational investment.
