Brantford's Post Secondary Economic Impact Study
The results reported by stakeholders show that the development and growth of post-secondary has
- Enhanced the reputation of Brantford and surrounding areas
- Provided a marketing advantage for the community to prospective employers
- Enabled local workforce to seek education locally
- Positively impacted downtown businesses (results have tripled since 2006 study)
- Increased our ability to retain talented young people in the area
- Provided longer-term stability to the community
Resulted in significant contributions by studentsthrough volunteerism in the community (equivalent to $1.7 million in labour annually)
The City of Brantford has capitalized on the establishment and growth of post-secondary institutions in Brantford, with investment by education, students and the private sector resulting in an economic impact of $43.33 - $58.5 million annually or $216 - $292 million over the last five years. With education being the catalyst, the city has been able to attract investment from many strategic partnerships with the post-secondary institutions, private sector, business community and other regional partners.
As a follow-up to a report completed in 2006, the Grand Valley Educational Society commissioned Adventus Research Inc., to complete a study to measure the actual results to date and to forecast expected economic impacts for the next five years. The study revealed that actual economic impacts are as high as 20% greater than expected. “Brantford should be very proud of the successful partnerships created by community members, the municipality, academic institutions and industry. Citizens have engaged and supported Council in taking a dire situation and developing a unique solution to reinventing your downtown that will continue to grow and prosper and present ongoing benefits to your community. The results achieved speak very well for Brantford”, Gary Svoboda, President of Adventus Research Inc.
From a financial impact perspective, the study shows that students attending post-secondary institutions will spend approximately $26.8 million locally on an annual basis for such items as accommodation, transportation, food, clothing and entertainment, or $6,033 per student, while estimated construction and renovation costs over the next five years will support a temporary increase in income up to $110.2 million, or a 5 year average of 227 jobs and the impact of those visiting the campuses is estimated to be $586,000 annually.
As part of the 2011 study, 175 surveys and 29 stakeholder interviews were completed involving stakeholders in downtown, throughout the city, County of Brant and Six Nations. Overall, the results reported by stakeholders show that the development and growth of post-secondary has had an extremely positive impact on Brantford and the surrounding areas.
The growth of a community and post-secondary initiatives does not come without growing pains and challenges. Going forward, the study indicates that as the post-secondary institutions grow, the need to effectively develop and build the infrastructure to accommodate this growth in a balanced way needs to be considered. In tandem with this, is the issue of how to sustain a reasonably steady economic activity in the Brantford downtown 12 months of the year so that a downtown retail sector can be attracted to support the growing body of students, faculty and staff.Non-academic activities and destinations available for the greater community in downtown, such as the new YMCA complex, will help in achieving the balance growth while attracting investment and providing a diversified consumer base. The foundation for success has been laid and the opportunity for growth is no longer only in the horizon.
For more information please contact Trudy Belanco at 519-759-4150.
To download a copy of the Executive Summary or the Full Report, please click one of the links below.
Online eReport Brantford's Post Secondary Economic Impact Study
The documents below require the Adobe Acrobat Reader. Click to download the Acrobat Reader plugin to your browser.
Clicking on any of the documents below will open a new browser window.