September 14, 2005 Source: Wilfrid Laurier University:
http://www.wlu.ca/news_update.php?grp_id=28&nws_id=848&filter_type=update New study confirms economic benefits of Laurier Brantford A new study is confirming what academics and some local politicians
have realized all along – post-secondary education institutions like
Laurier Brantford are economic boons to a declining downtown. The report, the first of its kind in Brantford, was commissioned by the Grand Valley Educational Society and conducted by Adventus Research, based in Guelph. Combining research into the decline of the downtown, and personal interviews with local business owners, city representatives and members of university and college administration, the report clearly illustrated the positive impact Laurier Brantford and Mohawk College have on the community. Based on the projected growth of the post-secondary institutions over the next five years, the benefits will continue to be felt. The total average economic impact of Laurier Brantford through to 2010 is estimated to be $20-27 million annually, including student, faculty and staff expenditures, operating expenses, and capital expenditures. This economic boost grows to $39-49 million when the Mohawk College estimated impact is added. Leo Groarke, dean of the Brantford campus of Wilfrid Laurier University, was pleased with the results. "This report simply confirms what we see all around us. Post-secondary education has become an economic engine that is bringing a derelict downtown back to life,” said Groarke. “The most important thing is that we consolidate the gains we've made and keep the momentum going. We've come a long way already, and can go much further in the years to come." The study also outlines the impact of the university and college on urban revitalization, particularly in the downtown core. The establishment of Laurier Brantford was cited as a clear catalyst in the turnaround and renewal of downtown Brantford. It is important to note this revitalization will not simply recreate the business centred downtown of old; what is emerging is a new balance between academic institutions, cultural attractions, and retail and service players appropriate to the new mix of residents and visitors to the downtown. It is estimated that construction and renovation costs for Laurier Brantford and Mohawk’s Brantford campus will total up to $24.2 million (including private and public sector development), of which as much as $17.2 million would be retained within the City of Brantford and Brant County. Acting dean Bruce Arai is excited that Laurier Brantford’s contributions to the revitalization efforts are being formally recognized by this study. “Those of us here at Laurier Brantford have always felt that we have been important contributors to the revitalization of downtown Brantford,” said Arai. “But it is nice to see the impact measured and confirmed in this report.” The effect post-secondary education is having on the City of Brantford involves more than just economics and revitalization. According to the report, 95 per cent of respondents felt that Laurier Brantford positively affects the reputation of the City of Brantford. Finally, as the report is quick to point out, the impacts of post-secondary education in Brantford are just beginning to be felt. The true economic and revitalizing effects will come in the future as the institutions continue to grow in terms of both physical space and student enrolment. Laurier president and vice-chancellor Dr. Robert Rosehart supports the findings of the study and is proud of the impact Laurier Brantford is having on the community. “The research has usefully confirmed that the establishment of a university campus downtown is a major force in turning downtown Brantford around, and establishing it as a vibrant place to live and work,” said Rosehart.
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