What is the Economic Impact Study?
EMSI’s Economic Impact Study (EIS) estimates the impact of colleges in terms of job and income formation, higher earnings captured by students, returns to taxpayers, and a broad collection of social benefits and avoided costs.
The study—available for 2- and 4-year institutions—is ideal for demonstrating your institution’s economic contributions to the public, legislature, media, and others. Since 2000, it has helped many colleges throughout the UK, Canada, Australia and the US garner expanded support, develop new capital projects, and increase grant funding. This is because data-driven measures on economic impacts from several different perspectives far outweigh anecdotal evidence.
- Inform the public, employers, and funding bodies about the impacts of further education (FE)
- Analyse FE as an investment for learners and taxpayers
- Demonstrate value for money at FE institutions
- Help high-performing colleges promote their impact
- Help all colleges maximize their local beneficial impact
Visit our UK partner, Active Solutions, for more information.
Specialising in Evaluation of FE Colleges
The value of education is widely recognised but rarely examined rigorously from a sociological and economic perspective. That is why EMSI has developed a socioeconomic impact model expressly to quantify the total net value that Further Education (FE) institutions bring to their communities.
The EMSI study uses an array of data to calculate the net impacts and translate these into the language of investment analysis for both learner and taxpayer.
Colleges are finding that the EMSI study is highly responsive to the recommendations of the Foster Report by providing a way to demonstrate value for money and local impact.
A Socioeconomic Impact Study Examines:
- Local economic multiplier effects of college payroll and other spending, as well as higher learner incomes due to qualifications earned;
- Public expenses avoided due to the improved lifestyles of a more educated population — measured by better health and lower rates of unemployment and crime;
- Return on investment to the Government, as FE funding generates economic activity, raises individuals’ incomes, and reduces the demand for a range of social services; and
- Return on investment to learners, and employers whose time and money put into a qualification is rewarded by a lifetime of higher income.
EMSI's Impact Study includes:
- Main Report: Full documentation of data, analysis, and results.
- Executive Summary: Short document with key facts designed for diverse audiences
- Media Kit: Slide presentation and one-page fact sheets with key results from the study
Proven Experience
No other model has been implemented as widely and successfully as the EMSI college impact model. To date, over 900 studies have been carried out in North America, the UK, and Australia. To learn more or commission a study for your college, contact us at info@activesol.co.uk
