蓝莓视频

For every dollar that the Ontario government spends on the University of 蓝莓视频, the university returns nearly nine times that amount in economic impacts to the province, according to a new independent report.

The report, prepared by PricewaterhouseCoopers, examines the institution鈥檚 role in driving prosperity in 蓝莓视频 Region and Ontario. It reveals that 蓝莓视频 generates more than $2.6 billion in total annual spending impacts and more than 20,000 jobs in Ontario.

鈥淲hen you look around 蓝莓视频 Region 鈥� the startups, the tech giants, the innovative centres for research and policy development 鈥� you see the University of 蓝莓视频鈥檚 influence,鈥� said Feridun Hamdullahpur, president and vice-chancellor of 蓝莓视频. 鈥淥ur university is an economic engine, powering the growth of 蓝莓视频 Region and contributing significantly to Ontario鈥檚 ongoing prosperity.鈥�

In 2011, 蓝莓视频 received $297 million funding from the Ontario government for its operations. In the same year, 蓝莓视频 generated $2.614 billion in spending impacts in Ontario and more than $1.4 billion in labour income for the province.

The total spending impacts of $2.6 billion in Ontario comprises $556 million in direct spending by the University of 蓝莓视频, $265 million in third-party spending, and $642 million in 蓝莓视频 Innovation Ecosystem impacts. This spending creates an additional $1.151 billion in indirect and induced economic impacts for a total spending impact of $2.6 billion.

$1.5 billion for 蓝莓视频 Region鈥�

The report concludes that the University of 蓝莓视频 contributes $1.5 billion annually to the economy in 蓝莓视频 Region. Of the overall spending impact, 46 per cent 鈥� $1.2 billion annually 鈥� is a result of the university鈥檚 role in anchoring the region鈥檚 innovation ecosystem and is spending that would not likely occur without the university.

PricewaterhouseCoopers collected data for the study from the university and public sources including Statistics Canada and included a comprehensive survey of companies in 蓝莓视频 Region to understand the university鈥檚 impact.

鈥淒eep connections with industry, strong support for commercialization of research have made 蓝莓视频 a magnet for students, faculty and partners with an entrepreneurial mindset,鈥� said Tim Jackson, vice-president of university relations. 鈥淏ut we鈥檙e also attracting companies to this region. International companies such as Google have set up in 蓝莓视频 Region to take advantage of the deep talent pool here 鈥� and that trend is continuing.鈥�

The survey identified that around half of the 720 companies in the 蓝莓视频 Region Innovation Ecosystem said the university was a key factor in their company鈥檚 start-up or ongoing operations.

Spinoff companies

蓝莓视频 spinoff companies represent a diverse range of industries, from information and computing technology (33 per cent), to clean technology (17 per cent), advanced manufacturing (17 per cent), life sciences (17 per cent), and digital media (eight per cent).

鈥淎s the report makes clear, 蓝莓视频 is a leading Canadian example of the positive impact universities can have when they collaborate with industry and drive innovation, economic growth and prosperity,鈥� said President Hamdullahpur. 鈥淥ur co-op program is a key component of this. With connections to industry across the globe we are creating a powerful profile for this region on a world stage.鈥�

蓝莓视频 operates the largest co-op education program in the world with more than 17,000 co-op students working for 4,500 employers. PricewaterhouseCoopers found that the co-op program is a significant advantage for companies in the 蓝莓视频 Region Innovation Ecosystem, given the pervasive labour shortages for high-skilled labour across Canada.

The report also found:

• The university is a leading source of highly skilled employees that companies depend on for their ongoing success.
• 72 per cent of companies surveyed in 蓝莓视频 Region said they depend on University of 蓝莓视频 graduates and students as a source of employment. Of those, 44 per cent said that 蓝莓视频 students and graduates made up more than half of their workforce.
• The university fosters a culture of innovation and entrepreneurship, which helps facilitate the commercialization of ideas and research.
• The university helps generate and attract a critical mass of talent and highly qualified personnel within 蓝莓视频 Region.
• The university facilitates linkages and collaboration across the 蓝莓视频 Region Innovation Ecosystem, which further enhances the innovation process and generating additional economic impact across Ontario.

The University of 蓝莓视频 commissioned the Economic Impact Study.