Saskatchewan is a province abundant in natural resources and human talent. In a recent economic impact analysis performed independently by Lightcast for 2022-2023, results have showed that Sask. Polytechnic plays a major role in shaping the provinces’ economy by way of teaching in-demand skills that utilize this abundance.
“(The analysis) showed some pretty remarkable stats there and… shows that Sask. Polytechnic employees and some alumni are really supporting their communities,” explained Dr. Larry Rosia, the president and CEO of Sask. Polytechnic.
In the report, it was demonstrated that Sask. Polytechnic contributed a total of $2.6 billion to the provincial economy in 2023, and this figure is roughly consistent on an annual basis.
“One of the things I like to say when I’m speaking is that Saskatchewan runs on Sask. Polytechnic,” Dr. Rosia stated.
This statement is backed by the numbers. Breaking down the $2.6 billion figure:
- $2.3 billion is added through annual alumni earnings and increased business profits.
- $228 million is added through salaries and day-to-day operating expenses.
- $65 million is added through international and domestic student spending.
- $8 million is added through applied research spending on payroll and expenses.
- $7.7 million is added through annual research expenditures.
Some noteworthy statistics revealed in the report include:
- Sask. Polytechnic is responsible for creating 27,292 jobs in the province.
- One in every 19 jobs in Saskatchewan is supported by the activities of Sask. Polytechnic and its students.
- Sask. Polytechnic has ranked in the top 10 list of Canada’s top research colleges.
- Around 3,200 international students currently study across the school’s four campuses.
- In 2023 alone, 5,000 credentials were conferred to graduates, allowing them to find employment in key industries and contribute to Saskatchewan’s Growth Plan.
- The overall graduation rate for the academic year ending in June 2023 was 95 per cent, with an Indigenous graduation rate of 92 per cent.
- Of those graduates, 90 per cent have chosen to remain in Saskatchewan.
- The average Sask. Polytechnic diploma graduate will see an increase in earnings of about $14,300 per year, compared to a person with a high school diploma or equivalent.
“To put that into perspective, that ($2.6 billion figure) equals almost four per cent of the province’s Gross Provincial Product (GPP).”
Much of this success comes from industry-driven programs that prepare students for the jobs and skillsets required by Saskatchewan’s growing economy.
“We like to say we don’t offer a program where there isn’t a job waiting at the other end. We do that by constantly monitoring some Key Performance Indicators (KPI) on our programs. Is there student demand? Is there employer demand?”
To ensure the programs remain in demand, Sask. Polytechnic has approximately 700 industry experts sitting on the school’s program advisory committees.
“They advise our faculty on current opportunities, challenges faced by industry, what we need to change in our curriculum – what we need to update and what we need to take out – and of the job market too, whether or not there is a need and market demand,” Dr. Rosia explained.
There is a strong Return on Investment (ROI) from investing in Sask. Polytechnic.
“Overall, the analysis we did found that for every dollar… invested in Sask. Polytechnic, students gained $2.10 in higher future earnings, taxpayers gained $4.10 in added tax revenue and public sector savings, and society at large gained $8 in added provincial revenue and social savings.”
Currently, Sask. Polytechnic is experiencing a huge increase in demand for graduates, and this is contrasted with – in one instance – a 98 per cent increase in the school’s 2023 apprenticeship intake compared to 2022.
“Our students are in huge demand, (and) our programs serve every economic and public sector in the province, and in the country frankly – from healthcare to manufacturing to construction to some of the high-technology areas as well.
“Our expectation is that this trend will continue. When we talk to industry in the various sectors, they are pretty optimistic about the… opportunities that exist in the province.
“Our vision is to lead the rise of Polytechnic education and support the province. We see that as our role, making sure that industry have the skills they need to be successful,” Dr. Rosia said.
“Hats off to all of our employees within Sask. Polytechnic for the great work that they do and in keeping our brand strong.”
To contact Sask. Polytechnic to inquire about enrolment opportunities, call 1-866-467-4278. The Moose Jaw Campus is located at 600 Saskatchewan Street West and is open 8 a.m. to 4:30 p.m. Monday to Friday.
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