Member for Monaro Steve Whan announced the final details of the study, saying it was another positive step forward for the town.

"The NSW Government will continue to work in partnership with Palerang Council to capitalise on the potential of the heritage listing," Steve Whan said.

"This research project will involve local business and property owners and will help to provide an objective assessment of the effects of the listing over a period of time. It is funded with $23,000 from the NSW Government over five years, through the Heritage Office of the Department of Planning," said Mr Whan.

"The study will start with an economic profile of Braidwood, including an analysis of the local economy. The Institute will examine significant local economic trends over the last five years and compare them with trends across regional NSW."

"It will also identify the specific benchmarks which will be monitored, with the help of local community members. Local business data will be collected and the Institute will produce an annual report over the next five years, to measure performance against the benchmarks," said Mr Whan.

Palerang Mayor Jim Maclachlan welcomed the project and said Council would continue to be actively involved. "This project builds on the NSW Government funding support we have already received for the heritage advisor and local heritage fund," Mr Maclachlan said.

"Palerang Council is working cooperatively with the Heritage Office so that we can make the most of these opportunities and ensure the town benefits. It's in everyone's interest that Braidwood prospers from the listing."

Braidwood and its setting were listed on the State Heritage Register in April this year. It was the first town on the east coast of Australia to be recognised in this way.