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Updated Economic Impact Results Released by Trent University

FOR IMMEDIATE RELEASE

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

		Local 2002-03	(%)
FLOW A	Value of Purchases	40,507,000
	Value of Flow A X 40%	$ 16,202,800	16%
FLOW B	Total Value Wages, Salaries & Benefits
	Trent	48,711,000
	Ancillary Services	2,343,000
	Total	51,054,000
	Value of Flow B X 60%	$ 30,632,400	30.0%
FLOW C	Expenditures by 7,348 Students
	Total Expenditures of On Campus Students 1,400 @ $3,250	4,550,000	4.4%
	Total Expenditures of Off Campus Students 5,948 @ $8,000	47,584,000	46.5%
	Value of Flow C	$ 52,134,000	51.0%
FLOW D	Non-University Purchases by Visitors
	On Campus Conferences 12,500 Visitors @ $200	2,500,000
	Head of the Trent 2,000 Visitors @ $200	400,000
	Convocation 2,000 Visitors @ $200	400,000
	Value of Flow D	$ 3,300,000	3.2%
	Summary of Local Economic Impact:
	FLOW A	16,202,800
	FLOW B	30,632,400
	FLOW C	52,134,000
	FLOW D	3,300,000
	Direct Local Expenditures Attributable to Trent University	$ 102,269,200	100.0%

	Multiplier Effect of 2 Times
	Local Annual Economic Impact	$ 204,538,400

Source: Office of Institutional Research and Planning, Trent University

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