OAA report highlights economic contributions of architectural practice
In 2017, Altus Group was approached by the Ontario Association of Architects (OAA) to prepare an analysis of the economic benefits of the architectural services industry and its contribution to the construction sector.
The architectural services industry plays a critical role in Ontario’s economy, particularly its rapidly expanding real estate industry. The development and construction of buildings, and subsequently their daily operations, directly support thousands of jobs and add tremendous value to the Ontario’s gross domestic product (GDP). Although architectural services professionals represent a very small minority of in the range of professionals and trades involved in bringing new buildings to life, they play an important and outsized role. Architectural designs are essential to the multi-billion dollar construction sector. In addition to building up and maintaining Ontario’s infrastructure, the construction sector generates about 6.7% of Ontario’s GDP or $58 billion. It is also a significant source of jobs, wages and government revenue. Ontario’s physical infrastructure provides an important platform for economic growth, prosperity and social wellbeing.
While millions of Ontarians rely on buildings designed by the architectural industry for housing, commercial accommodation and recreation spaces, its fundamental value to our communities, and the Ontario economy can sometimes be overlooked.
Gaining an understanding of the extent of the economic contribution of an industry, such as architectural services, is of importance to multiple stakeholders. Policy makers, as well as municipal planners and politicians, can make smarter decisions with better data and an improved perspective on the industry. Homeowners, contractors, developers, and private and public investors in Ontario will be better able to see how their decisions affect the industry and the millions of Ontarians who live, work and play in the properties designed by architects.
You can find a full copy of the report excerpted above via Ontario Association of Architects (OAA) website, linked here.