Research highlighting TAFE Western’s value in regional NSW has been released today, with key findings revealing the organisation contributes 870 jobs to central and western NSW annually – a figure equivalent to $90 million of household income per year.
This valuation offers resounding proof of the organisation’s undeniable worth to the region according to TAFE Western Acting Institute Director Adam Bennett, who said Western Research Institute (WRI) was commissioned to undertake an analysis of the economic impact of the organisation on the region’s human capital in 2015.
“The key findings of WRI’s research demonstrate that TAFE Western has a massive, positive economic impact in NSW,” Mr Bennett said.
“Not only do we contribute 870 jobs to central and western NSW, our operation adds an extra $128 million in gross regional product each year.”
Mr Bennett also revealed that TAFE Western’s impact on the region’s human capital was huge, taking into account employment and average incomes.
“$125 million of additional income will be earned by TAFE Western graduates of 2015 across their lifetime when compared to a similar group with no post-school qualifications,” Mr Bennett said.
“Individuals who gain a Certificate III or above increase their weekly earnings, and this is the same for TAFE’s Aboriginal students. Unemployment levels are also lower for all students once they gain at least a Certificate III level qualification at TAFE Western.
“We’re really proud to be such an important asset to our local communities. These figures not only emphasise the crucial contribution we make in regional NSW, but also prove that we do offer life-changing opportunities for our students.”
WRI General Manager, Wendy Mason added, “Our report captures the significant contribution made by TAFE Western from an economic, social and human capital point of view. This research highlights the key role that TAFE Western plays in our region.”
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