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.
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:
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.