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

Default product image

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

Metropolitan Provincial
Pages:53 pages89 min read

Author: Zafer Sonmez

$0.00

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.

Want a discount? Become a member by purchasing a subscription! Learn More

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.