FOR IMMEDIATE RELEASE
Trent University Contributed $204.5 Million to Local Economy in 04-05
Board of Governors hears that economic impact expected to increase significantly next year
May 2, 2004, Peterborough
A report estimates that Trent University's economic impact to Peterborough and the surrounding region was $204.5 million in 2002-03.
The report, produced by Christopher Michael, coordinator of institutional research at Trent, was presented at a meeting of the University's Board of Governors on Friday, April 30, 2004. It states that the University's economic impact on the surrounding area will likely increase considerably next year as official openings take place for both the Chemical Sciences Building and Peter Gzowski College. Today's economic impact statement takes into account about 40 per cent of the construction work that has occurred on the Symon's Campus.
Trent University spent $57.4 million on operating expenditures in 2002-03. Faculty, staff and students make more than $30 million in purchases in the regional economy.
In fall, 2003, full and part-time students, both on and off-campus, numbered 7,348. On-campus students contribute an average of $3,250 to the local economy over the eight-month academic year, while off-campus students contribute an average of $8,000. In 2003, a total of 5,948 off-campus students spent approximately $48 million in Peterborough and the surrounding region on items such as telephone, rent, cable, clothing, food, and entertainment. Off-campus students account for 46.5 per cent of Trent University's impact on the local economy.
For more information, please contact: Christopher Michael, (705) 748-1011 ext. 1028