Updated Economic Impact Results Released by Trent University
Trent contributes $204.5 million to local economy
October 21, 2004, Peterborough
An updated analysis of the economic impact of Trent University on the city of Peterborough and the surrounding region estimates that the University contributed in excess of $204.5 million to the local economy in 2002-03.
Christopher Michael, Coordinator of Institutional Research, says that this includes the construction work that has occurred on the Symons Campus. "In-year spending of $15.9 million on the new Chemical Sciences Building and Peter Gzowski College-Enweying projects added significantly to the local economy," said Michael. The university spent $57.4 million on operating expenditures in 2002-03. In addition, more than 800 employees made purchases in the regional economy in excess of $30 million.
In fall 2003, Trent University had 7,348 students full and part?-time, on and off?-campus. Each on?-campus student on average contributes $3,250 over an eight?-month academic year to the local economy. Each off?-campus student on average contributes $8,000 over an eight?-month academic year to the local economy. In 2003, 5,948 off?-campus students consumed approximately $48 million in Peterborough and the surrounding areas. Off?-campus student spending in the local economy represents 46.5 per cent of Trent University's impact to the local economy. Off?-campus students spend their money on things such as telephone, rent, cable, clothes, food, and entertainment in Peterborough and the surrounding areas.
For more information contact:
Christopher Michael, Coordinator of Institutional Research and Planning, 748-1011, ext. 1028
Table 1 - Economic Impact of Trent University 2002-03
Source: Office of Institutional Research and Planning, Trent University
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