The University of Guelph’s investments in teaching and research, people and organizations generate $8.6 billion for the national economy, according to the latest U of G economic impact report.
The University contributes more than $2-billion worth of GDP to the local economy annually, including sustaining more than 13,400 jobs and generating $686 million in labour income.
Students alone contribute $444 million in living expenses and dedicate 1.5 million volunteer hours each year to the City of Guelph and Wellington County.
This report was conducted by Ernst & Young LLP to assess the University’s economic impact nationally, provincially and in the communities where U of G campuses – Guelph, Ridgetown and Guelph-Humber – are located. Factors analyzed include the University’s operational activities for the 2019-20 fiscal year, research productivity, local spending by students, alumni and visitors, and capital programs.
U of G campuses are ‘economic engines’ for home communities
“This report explains how the University’s teaching, research and community-building endeavours contribute to stronger, more sustainable and more inclusive economies,” said President Dr. Charlotte Yates.
It also shows how the U of G campuses are “economic engines” for their home communities, Yates added.
“From spending on local contracts and partnerships to expenditures on transit, housing and food, the U of G community’s economic impact supports a strong community, driving prosperity and success.”
Nationally, the University has sustained 21,400 jobs, generated $1.1 billion in labour income and contributed nearly $2 billion to Canada’s GDP from research productivity. Most of these contributions occur in Ontario.
Contributes $5.22 billion to Ontario’s GDP
The Ontario Agri-Food Innovation Alliance, a collaboration between U of G and the Ontario Ministry of Agriculture, Food and Rural Affairs, contributes $1.44 billion to Ontario’s GDP. This partnership benefits provincial industries by supporting research, commercialization and innovation, creating products and jobs, and increasing business productivity.
With its campuses, alumni, research centres and laboratories across the province, the University’s community of U of G students, alumni and visitors contributes $5.22 billion to Ontario’s GDP.
“From volunteering to participating in our record-setting United Way campaign, to building homes locally and globally, to fighting food insecurity and social injustice, our people make a difference,” said Yates. “We live out our shared commitment to use our time and talents to improve life in our communities and in our world.”
U of G is one of Canada’s leading comprehensive and learner-centred universities. Nearly 30,000 students are enrolled on three campuses in Guelph, Toronto and Ridgetown.