May 24, 2012 —
The University of Ottawa is proud to release the results of an economic impact study that highlights the substantial contribution made by the University to the economy of the Ottawa-Gatineau region. This economic impact is valued at 4.12 billion dollars annually.
The University of Ottawa makes three major contributions to the local economy. Not only is the institution one of the region’s major employers and purchasers of goods and services, but also our graduates earn higher incomes as a result of their postsecondary education. In addition, as a major research engine and source of innovation, the University contributes to productivity gains in the Ottawa-Gatineau’s economy.
“This study underscores the critical role the University plays in the economy of our region. An economic impact of 4 billion dollars a year, that represents more than 10 million dollars each day,” says Allan Rock, president of the University.
The economic impact of a large organization
The University of Ottawa attracts 40,000 students to the region and employs over 5,300 staff and faculty. Their combined spending power results in 1.17 billion dollars in economic activity each year.
The economic impact of education
At least 76,000 uOttawa graduates live the Ottawa-Gatineau region. These graduates earn higher incomes as a result of their postsecondary education. This translates into an economic contribution of an additional 1.68 billion dollars each year.
The impact of research
The University of Ottawa is among the top 10 research universities in Canada in terms of sponsored research income. Productivity gains linked to its research activities represent an annual cumulative value of 1.27 billion dollars.
“The university has become a key driver in Ottawa-Gatineau’s economy, culture, reputation and identity. Our research and our graduates provide the innovation and skills that make our businesses and our public institutions regional, national and international leaders. The University of Ottawa, a familiar face in our capital, is having an increasingly more important impact on our city, our country and in our world,” says Rock.
The economic impact study was conducted by the University of Ottawa Institution Research and Planning team. The methodology and content of the study were reviewed and validated by KPMG. The study, Economic Impact Study 2012, is available online for consultation.
About the University of Ottawa
The University of Ottawa is committed to research excellence and encourages an interdisciplinary approach to knowledge creation, which attracts the best academic talent from across Canada and around the world.