Volume 95, Issue 18

Tuesday, October 2, 2001
 
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NEWS

Engineers, UWO in boozefest battle

Students politicos clamour for BOG seats

Jackpot! $200 mil. raised

Brown: "Waterloo still sucks"

Expert: Microsoft's guilt unclear

University means money

Hate crimes and drunks keep coppers busy

News Briefs

University means money

By Joel Brown
Gazette Staff


The University of Waterloo has a $1.1 billion impact on the Waterloo region, according to a study released last week.

The report, conducted by accounting firm Pricewaterhouse Coopers for UW, showed the university is responsible for 23,000 jobs in the area.

"It's as if you gave every person in Cambridge and Waterloo a $10,000 cheque each year," said UW president David Johnston.

The report, designed to establish UW's economic benefits to the government and local community,was presented to Waterloo Regional Council and UW officials last Tuesday.

"It was a very pleasant surprise," Johnston said. "I hope it demonstrates to community leaders that their investments have paid off."

The final figure included a wide variety of university-related spending such as federal grants for research and student spending.

A study done by Ernst and Young for Western in 1999 showed the university had a similar billion-dollar domino effect and was responsible for 10 per cent of London's economic activity.

"It put a number to what we had been saying all along," said Western VP-external Ted Garrard.

Garrard said the report has been extremely beneficial to the university in terms of attracting investors, one of which was the City of London who donated $10 million to Campaign Western.

According to Garrard, this type of study has a shelf-life of 5 years and the university is willing to do it again.

Director of economic development for the Waterloo Region Paul Eichinger said the city has taken notice of the study's findings.

"It puts numbers to what we've appreciated all along," he said. "We definitely realize UW is a main economic driver in our region."




To Contact The News Department:
gazette.news@uwo.ca

Copyright The Gazette 2001