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How Ontario Universities Benefit Regional Economies: Assessing the Regional Economic Impacts of Universities in Ontario The Conference Board of Canada, 53 pages, December 9, 2021 Impact Paper by Zafer Sonmez

How Ontario Universities Benefit Regional Economies: Assessing the Regional Economic Impacts of Universities in Ontario

The Conference Board of Canada, 53 pages, December 9, 2021
Impact Paper by Zafer Sonmez

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Ontario universities significantly boost provincial and regional gross domestic product and employment through a variety of channels, including spending on university activities, research and development, and human capital development. Document Highlights This impact paper examines the economic impact that Ontario universities have on regional economies and provides data for 15 specific regions of the province quantifying the impact of university activities on the following areas: regional GDP local employment labour income tax revenues premium earnings by university graduates research and development Although the impacts varied by community, Ontario universities provided significant benefits in all the regions considered. Alumni and university spending generated the greatest economic impact of all categories considered. Universities also improved the quality of Ontario’s human capital by equipping workers with crucial skills to support a dynamic, knowledge-based economy; increased the lifelong earning potential of graduates; and benefited regional economies by fostering innovation, both directly and indirectly, through research and development activities. Table of Contents Key Findings Introduction Impact Results Conclusion Appendix A Impact Regions Impact Category Descriptions Using the Input-Output (I-O) Model Key Assumptions Appendix C Data Access the Data Appendix D Bibliography

Ontario universities significantly boost provincial and regional gross domestic product and employment through a variety of channels, including spending on university activities, research and development, and human capital development.

Document Highlights

This impact paper examines the economic impact that Ontario universities have on regional economies and provides data for 15 specific regions of the province quantifying the impact of university activities on the following areas:

regional GDP
local employment
labour income
tax revenues
premium earnings by university graduates
research and development

Although the impacts varied by community, Ontario universities provided significant benefits in all the regions considered. Alumni and university spending generated the greatest economic impact of all categories considered. Universities also improved the quality of Ontario’s human capital by equipping workers with crucial skills to support a dynamic, knowledge-based economy; increased the lifelong earning potential of graduates; and benefited regional economies by fostering innovation, both directly and indirectly, through research and development activities.

Key Findings
Introduction
Impact Results
Conclusion
Appendix A
    Impact Regions
    Impact Category Descriptions
    Using the Input-Output (I-O) Model
    Key Assumptions
Appendix C
    Data
    Access the Data
Appendix D
    Bibliography