A new study shows how big of an impact business schools at the University of Regina have both socially and economically.
The results from a study conducted by Economic Development Regina were presented at an event on Friday morning from the university’s College Avenue Campus. The numbers measure how significant the Paul J. Hill School of Business, the Kenneth Levene Graduate School of Business and their students have become in Regina and other communities.
Dr. Gina Grandy, who serves as the dean for both schools, said she is proud of the results. However she’s also happy they took that initial step to discover how important the schools have become in the city and throughout the province.
“I only know of one other business school in this country who has made the decision to look hard at what they do and have done an economic impact study,” explained Dr. Grandy.
Highlights from the study include:
- The Hill and Levene schools generated $211 million in economic activity or $140 million in GDP to the provincial economy in 2018;
- One in 280 jobs in Regina depend directly or indirectly on the Hill and Levene Schools of Business, adding up to 475 jobs in Regina and 868 jobs province-wide;
- 1,722 students spent $10.1 million in Regina in 2018;
- 83 per cent of Hill graduates in 2017-18 already had employment in place. 74 per cent started work in their relevant fields of study.
Social impacts were also revealed at the announcement on Friday. Data found students, graduates and faculty contributed to the community and became leaders for organizations and groups.
- Since 2010, the Business Students’ Society has raised over $300,000 for Carmichael Outreach through the 5 Days for the Homeless initiative.
- From 2017 to 2019, students involved in our JDC West case competition teams raised nearly $75,000 for Hope’s Home and logged more than 10,000 volunteer hours.
The numbers are useful considering the business schools have seen growth in admissions over the last few years as they look for more ways to strengthen their community impact.
Since 2014, the average for enrollment has grown about 12 per cent. Not to mention 400 new students are accepted into the U of R’s business schools each year.
While Dr. Grandy noted it’s a positive to see how much the Hill and Levene schools have grown over the years, she admitted they are running out of space. But it looks like the university will be helping out on that front.
“There have been conversations about possible [locations], but it would be on our main campus,” said Dr. Grandy. “Not only would a new facility for the schools of business allow us to grow from the business side, but it would also create opportunity and relieve stress from three to five other faculties.”