MUN, WesternU share economic impact reports

February 5, 2015

Economist Wade Locke has found that Memorial University accounts for more than $1 B in economic activity each year. Locke, a faculty member at MUN, says that this translates to roughly 11,200 full-time jobs, good for 5.6% of Newfoundland and Labrador's employment. Locke adds that the university also generates $250 M in revenue for the provincial government. "If it wasn't for the fact that we have a university here you wouldn't see the same level of prosperity and vice versa," Locke said. Western University also recently completed a similar analysis, and found that its total annual economic impact is $11.3 B, with $3.6 B of that being realized in London. 15,480 jobs in Canada are connected to WesternU, including 10,840 in London. Moreover, the report says that WesternU alumni were found to have improved their earnings by a total of nearly $5 B as a result of their education at the institution. "Western is deeply embedded into London's social and economic fabric. As we grow and play a larger role on the international stage, we are confident that our position as a key contributor to the economy will continue to strengthen," said WesternU President Amit Chakma. CBC |WesternU News | WesternU Report