BU generates more than $417M in economic activity annually: Study

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A new Brandon University study touts the institution’s far-reaching economic impact on the Wheat City and the wider Westman region.

The analysis, released Monday, suggests that BU generates more than $417 million in economic activity on an annual basis.

“Everybody realizes that there must be an economic impact from Brandon University, because it employs 400 people and it has 3,000 students, but this provides specifics,” said Kim Lemky, project manager of the BU Economic Impact Report.

“We looked at things like the university spending … faculty and staff, and the student spending, as well as some of the other aspects, such as the research impact, and also the alumni impact.”

Work on the study began in February 2016, which included gathering data from the various university departments, as well as Tourism Manitoba and Brandon First. It also went through an in-depth internal review before it was released.

“I think it’s great to go slow and steady, and get something that’s as accurate as it can be,” Lemky said. “It feels good to have a benchmark study that we can use moving forward, to estimate what type of impact the university is having as it changes and develops research programs and increases its number of students.”

One of the great benefits of the project, Lemky added, is the fact BU now has a database that can be updated on a regular basis. This can be beneficial when it comes time for governments to make funding decisions, attracting new research dollars, etc.

“It’s good for a university to do a check every five years or so,” she said. “If the government came to the university and asked for an update on economic impact … then we would be able to quickly update our numbers.”

Lemky led the project, in collaboration with the BU Institutional Data Analysis Unit. The team incorporated two commonly used economic impact assessment methods: the Sudmant Method, as well as the Canadian Input/Output Model.

“It is the first time in many years that a study of this type has been done for Brandon University and it shows that this university has comparably significant economic impacts on the city and the region,” outgoing BU president Gervan Fearon said.

“Every dollar in provincial funding provided to Brandon University generates more than $11 in economic impact —an outstanding return on investment by any measure and testimony to the transformative impact and economic value of post-secondary education and research in our region.”

The study found that BU created 927 jobs across the province, including 679 in Brandon. The economic impacts were calculated based on 2014/2015 data that looked at five specific items: institutional spending; student/visitor spending; indirect/induced impact; alumni in region; and impact of research.

BU’s direct operations expenditures totalled $48.2 million in Manitoba (and $44.4 million in Brandon) in 2014-15, according to the report. Capital expenditures totalled $3.1 million. The estimated full-time student spending impact is $36 million. The university drew nearly 50,000 visitors into Brandon, which resulted in an estimated economic impact of $15.7 million.

“It is impossible to calculate the full impact that BU has on our city’s social and cultural scene,” said BU incoming interim president Steve Robinson. “Brandon University attracts both youth and educated professionals to Brandon, who contribute to our region in many important non-economic ways, from volunteering to voting. This is the best estimate we can give for the economic side of the equation — the hard dollars that BU brings to Brandon every year.”

The full report can be found at brandonu.ca/economic-impact.

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BY THE NUMBERS

On Monday, Brandon University released an in-depth report on the university’s economic impact (2014-15) in Brandon and Westman. The study began in February 2016, and was led by project manager Kim Lemky in collaboration with the BU Institutional Data Analysis Unit. Here are a few of the highlights:

• $417.1 million in annual economic impact

• 927 jobs created across the province, including 679 in Brandon

• $1 in provincial funding to BU equals $11.30 in economic activity generated

• 400-plus faculty and staff employed, with more than 3,200 students enrolled

• 87 per cent of students come from Manitoba, eight per cent from out of province, five per cent international

• Of Manitoba students, 26 per cent are from Brandon

• BU draws nearly 50,000 out-of-town visitors every year

• 76 per cent of BU graduates stay in the region to live and work

• 12,440 total graduates over the past four decades

» Brandon University Economic Impact Report 2014-15