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 through many strategic partnerships with post-secondary institutions, private sector, the 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. “The results achieved speak very well for Brantford”, said 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. 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, and throughout the city, County of Brant and Six Nations. Overall, the results reported by stakeholders show that the development and growth of post-secondary education has had an extremely positive impact on Brantford and the surrounding areas. It provides long term stability as well as a marketing advantage for the community to prospective employers, and allows the area workforce to seek education locally.