An economic impact analysis by Georgian College looking at the Owen Sound campus finds it added more than $93.5-million in income to the Grey Bruce economy in 2019-20.
The report says the campus has supported over 1,300 jobs in the region.
For Owen Sound specifically, the campus and its students have added over $42 million in income, supporting over 500 jobs.
Owen Sound Mayor Ian Boddy says he does not find their contribution to the economy surprising, as the college is important to the community.
“The economic impact of their fiscal year end is not a surprise but it is pretty amazing when you see those numbers,” says Boddy.
Boddy notes the college has been good with lobbying the provincial government with Grey County and help provide training on various careers.
“There has been a lot of people who have been able to stay right here in the community and be trained at Georgian College and continue to live here, and not go somewhere else to get their training,” says Boddy.
The report also identified Georgian College Owen Sound campus collected over $6.7- million in funding from provincial taxpayers. Over the course of students’ professional careers, every dollar that is invested into the campus, taxpayers will receive almost $5 in return, with the annual rate of return for taxpayers sitting at 23 per cent, it says.
With the campus in Owen Sound, the economic impact analysis says it creates significant positive impact on the business community and generates a return on investment to its major stakeholders groups, students, taxpayers and society.
Boddy notes the city works a lot with Georgian College with representatives from each sitting on their various boards in an effort to work together on various projects.
“You look at that report they talk about jobs, they talk about incomes and they talk about social costs, and it really shows how important Georgian College is to the City of Owen Sound and throughout Grey and Bruce,” Boddy says.