Economic Value & Impact

Northern Lakes College Creates Social Value and Economic Impact

Northern Lakes College adds $212.5 million to the local economy. The impact of increased earnings of NLC alumni and the businesses they work for alone account for $185.7 million in added income, an economic boost similar to hosting 62 NHL playoff games, according to a recent economic value study. The study shows that one out of every 31 jobs in the NLC service region is supported by the activities of the College and our students.

The study also finds that for every $1 they invest in NLC, students gain $1.70 in lifetime earnings, taxpayers gain $1.20 in added tax revenue and public sector savings, and society gains $4.70 in added provincial revenue and social savings.

“It is clear that Northern Lakes College has both a strong economic impact and investment value. The College influences both the lives of our students and the regional economy. We are proud to contribute to building strong communities in our service region and supplying qualified, trained workers for the workforce,” comments Dr. Glenn Mitchell, President & CEO.

The results of this study clearly demonstrate that the College has a significant economic impact and is a strong investment for the stakeholder groups we serve. NLC provides accessible post-secondary opportunities to students throughout the province through Supported Distance Learning, becoming a significant contributor to building strong communities. Learn more about Supported Distance Learning.

Student Perspective
The College plays a key role in helping students increase their employability and achieve their individual potential. We draw students to the region, generating new dollars and opportunities for the service region. We provide students with the education, training, and skills they need to have fulfilling and prosperous careers. Furthermore, we are a place for students to meet new people, increase their self-confidence, and promote their overall health and well-being.

Taxpayer and Social Perspective
NLC influences both the lives of its students and the regional economy. The College supports a variety of industries in the service region, serves regional businesses, and benefits the provincial government through increased tax revenues and public sector savings. The benefits created by our institution even extend to society as a whole in Alberta, which benefits from an expanded economy and improved quality of life.

This study measures the economic impacts created by NLC on the business community and the benefits the College generates in return for the investments made by its key stakeholder groups - students, taxpayers, and society. All results reflect employee, student, and financial data, provided by the College, for fiscal year (FY) 2021-2022. Impacts on our service region economy are reported under the economic impact analysis and are measured in terms of added income. The returns on investment to students, taxpayers, and society in Alberta are reported under the investment analysis.

NLC promotes economic growth in the service region through our direct expenditures and the resulting expenditures of students and regional businesses. The College serves as an employer and buyer of goods and services for its day-to-day operations. The College’s activities attract students from outside the service region, whose expenditures benefit regional vendors. In addition, we are a primary source of post-secondary education to residents and a supplier of trained workers to regional industries, enhancing overall productivity in the regional workforce.

An investment analysis evaluates the costs associated with a proposed venture against its expected benefits. If the benefits outweigh the costs, then the investment is financially worthwhile. The analysis presented here considers NLC as an investment from the perspectives of students, taxpayers, and society in Alberta. The results of the analysis demonstrate that we are a strong investment for all three major stakeholder groups—students, taxpayers, and society. Students receive a great return for their investments in an NLC education. At the same time, taxpayers’ investment in NLC returns more to government budgets than it costs and creates a wide range of social benefits throughout Alberta.

View the Study Documents

The Economic Value Of Northern Lakes College Main Report »
The Economic Value Of Northern Lakes College Executive Summary »
The Economic Value Of Northern Lakes College Fact Sheet »

Interested in the economic value that Northern Lakes College brings to your community? For the purposes of this analysis, the NLC service region is divided into the following electoral districts: Athabasca-Barrhead-Westlock, Central Peace-Notley, Lesser Slave Lake, and Peace River. View the individual fact sheets for the electoral districts within the Northern Lakes College service region.

The Economic Value of Northern Lakes College Athabasca-Barrhead-Westlock Fact Sheet »
The Economic Value of Northern Lakes College Central Peace Notley Fact Sheet »
The Economic Value of Northern Lakes College Lesser Slave Lake Fact Sheet »
The Economic Value of Northern Lakes College Peace River Electoral District Fact Sheet »

About the Study

Data and assumptions used in the study are based on several sources, including the College's FY 2021-2022 academic and financial reports, industry and employment data from Statistics Canada, outputs of Lightcast’s Canadian Regional Input-Output model, and a variety of studies and surveys relating education to social behaviour. The study applies a conservative methodology and follows standard practice using only the most recognized indicators of investment effectiveness and economic impact. For a full description of the data and approach used in the study, please view The Economic Value of Northern Lakes College Main Report.

About Lightcast

Lightcast is a labour market analytics firm that integrates data from a wide variety of sources to serve professionals in postsecondary education, economic development, workforce development, talent acquisition, and site selection. Lightcast is a leading provider of economic impact studies and labour market data to educational institutions in Canada, the U.S. and internationally. Since 2000, Lightcast has completed over 2,800 economic impact studies for institutions across three countries.