There is no question that a university's qualitative impact is important. Individually and collectively, these factors enrich the community and the quality of life within it. However, while these qualitative factors are important, it is difficult to quantify or assign a numerical value to them. A fourth factor that is less apparent is the contribution a university makes to the economy of the surrounding community. A university's economic impact on its community is also important and should be acknowledged.
Universities are both providers and consumers of goods and services.
They create significant economic activity and contribute to the economic growth of their communities. This report quantifies Simon Fraser University's economic impact on the Greater Vancouver Regional District. A major premise of university impact models is that the university is considered to be part of the export sector of the local economy. The rationale behind this is that much of a university's income and that of its students originate outside the local economy. In the absence of the university, these non-local funds would be spent outside the university's surrounding community.