Brunswick Business Incubator value study – Brunswick Business Incubator
During a period of economic downturn in the State of Victoria and combined with a change of government the incubator was concerned that the publicly owned building they occupied might be sold resulting in the closure of the incubator and all its business facilities and services. NIEIR’s task was to evaluate the economic benefit created by the incubator to the local economy and to survey past and current incubator businesses about the benefits of the incubator from their perspective.
The study was able to show that much of the benefit from the incubator was being captured in the local area because of the additional employment opportunities and supply chain activities that had been created by a range of incubating businesses. Following a survey, a multiplier was used to calculate the economic and employment benefits generated by the incubator using the NIEIR regional input-output economic model.
Benefit to client
The NIEIR report enabled the Brunswick Business Incubator to demonstrate the economic benefit of its activities to its region. The Victorian Government chose to continue its support for the incubator.