The new FE Capital Investment Strategy details the creation of a £550 million investment programme targeted at colleges and sets out key policy objectives for the sector.
The goal is to inspire Colleges to develop a long term development strategy so that they can capitalise on this investment. Further information is also available on the Department for Business, Innovation and Skills (BIS) website.
The Skills Funding Agency will work with BIS and the FE sector to implement these policies. The Agency recognises the importance of world-class facilities in improving the skills of the nation’s workforce, which is central to the Government’s industrial strategy.
Not only is this report good news for the FE sector, it also reveals how important FE colleges are to the Government, since they are willing to invest so heavily.
The uses of Analyst, our labour market information tool, are many, but one of the most useful is the tool’s ability to help you keep an eye on your local economy. By using our projections, exploring staffing patterns, and researching historical trends, an institution can understand what needs to be done to prepare for the future. The innovations described in the BIS report will be fantastic for helping colleges develop their course provisions and upgrade their facilities, but they will need solid economic data in order to make informed decisions about where to use their investments.
Additionally, EMSI has developed an Economic Impact Study (EIS). Using data for the college, region and nation, the EIS calculates the net value an institution provides in terms of an impact analysis and investment analysis, making it easy for you to communicate the value of your institution to learners, businesses, taxpayers and your community. When the FE Capital Investment Strategy takes effect, your college will be in the best position to make the most of it.