NVI Technical College Information

Market Feasibility

Additional funding has helped protect the industry

Rising technological integration is boosting demand for

• A decline in government funding will put downward pressure on

additional training

industry revenue, forcing them to raise tuition fees while rising

• The increasing adoption of technology has boosted demand for

tuition fees, in turn diminishing demand for vocational education.

professionally trained technicians, leading to more vocational

institutions shifting focus to mechanic, automotive, robotic and

• Steadily rising government funding has helped keep revenue

electronic technology courses.

from dropping too far amid pandemic-related closure. The

A

Coronavirus Aid, Relief and Economic Security (CARES) Act of

• Vocational institutions have an advantage over competing

2020 and the Coronavirus Response and Relief Supplemental

colleges and universities as they specialize in offering intensive

Appropriations (CRRSA) Act of 2021 both provided

training courses with essential job-specific skills that are highly

unprecedented support for many industries, including trade and

tailored to careers that often aren't covered by colleges and

technical schools.

universities.

• To the industry's benefit, internet personality Bhad Bhabie

• Technology has also changed how educational institutions

recently partnered with the Educapital Foundation to launch the

function. In recent years, more lectures have been delivered via

Bhad Scholarship Award, which will grant a total of $1.7 million to

the internet, enabling students to attend training from anywhere.

1,000 students enrolled in trade and technical schools.

Source: Wert-Berater Feasibility Studies, LLC and IBISWorld

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