uWaterloo fuels $2.6 billion in Ontario spending

October 25, 2013

A new report reveals that for every dollar the Ontario government spends on the University of Waterloo, the university returns nearly 9 times that amount in economic impacts to the province. The uWaterloo-commissioned report, which was conducted by PricewaterhouseCoopers, also reveals that uWaterloo generates more than $2.6 billion in total annual spending impacts, creates more than 20,000 jobs in Ontario, and contributes a total of $1.5 billion annually to the economy in Waterloo Region. “Our university is an economic engine, powering the growth of [the] Waterloo region and contributing significantly to Ontario’s ongoing prosperity,” says uWaterloo President Feridun Hamdullahpur. PricewaterhouseCoopers collected data from the university and public sources, including Statistics Canada, and conducted a comprehensive survey of companies in the Waterloo region to understand the university’s impact. 72% of companies surveyed said they depend on uWaterloo graduates and students as a source of employees. Of those, 44% said that uWaterloo students and graduates made up more than half of their workforce. uWaterloo News Release | The Record