Brampton, ON - Today in Committee of Council, staff presented an economic impact study for a university and centre of education, innovation and collaboration in downtown Brampton.
The study, completed by urbanMetrics Inc., clearly articulated how these developments will spark jobs, investment, reputational and social benefits – in the downtown and across the city – bringing new opportunities for generations of Brampton residents.
Together with its post-secondary partners, Ryerson University and Sheridan College, the City of Brampton is committed to growing facility capacity and the number of students to deliver truly transformative benefits to the city.
Read the full report here (7 MB pdf) or visit www.brampton.ca/university
Construction impact (for a 5,000 student university):
• 3,150 direct and indirect full time jobs
• Economic output: $678.8 million – about 80 per cent is expected to occur in Brampton
• Additional revenue for local and regional governments
Operational impact (for a 5,000 student university):
• 1,925 direct and indirect full time jobs, annually
• Economic output: $308.2 million annually – about 80 per cent is expected to occur in Brampton
• An estimated 2.3 million annual users for a centre of education, innovation and collaboration, including almost 200,000 from outside Brampton
Student and visitor spending (for a 5,000 student university):
• Economic output: $53.5 million annually – with more than 70 per cent occurring in Brampton
• 310 direct and indirect full time jobs, annually
• A downtown location will spur local and regional transit and connections to the innovation corridor, decrease commercial vacancy and build a Brampton destination
• Brampton’s large immigrant base, particularly from South Asia, provides a unique opportunity to attract a growing number of international students studying in Canada. In 2015, 63% of international students in Canada originated from South and East Asia.
• A university education increases earning potential – an average of $43,000 more per year for post-secondary graduates across all age categories when compared to secondary graduates
• Over an eight-month academic year, a Brampton student could save $800 and 800 hours in commuting costs and time compared to attending university downtown Toronto
• Business incubators – as currently planned for the centre of education, innovation and collaboration – help create hundreds of new jobs, help keep those jobs local, and raise millions of dollars for business ventures
• Universities broaden the cultural base of a community
• Universities enhance the stature and reputation of host communities
This report confirms why we’ve been pursuing a new university – in addition to the economic benefit, a new university campus in our city will have significant, transformative impacts on the entire community. We are committed to continue to bring a new university, and work with all our partners for increased growth and opportunity.
- Mayor Linda Jeffrey
Brampton is thinking bigger. We are a future ready organization with a sharp focus. We know our community’s growth, youth and diversity set us apart. We sit at the centre of Canada’s innovation super corridor, encouraging investment and growing our global success. We are building vibrant urban centres that ignite opportunity and instill pride in the people who live and work here. We are moving Brampton forward to be a connected city that is innovative, inclusive and bold. Follow us on Twitter and Facebook. Learn more at www.brampton.ca.
City of Brampton
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