The University of Waterloo is famous for its co-op program. Many students choose these programs for the valuable chance to gain work experience while earning money. But the co-op option at this school not only benefits students, it also has a big positive effect on Ontario’s economy.
An economic impact assessment from EY reveals that the University of Waterloo adds nearly $7 billion to Ontario’s GDP through its co-op program, activities of alumni, and research initiatives.
Additionally, the report discovered that for every $1 invested by the Ontario government in the University of Waterloo, there is an impressive return of $8.16 in economic activity.
Waterloo has Canada’s largest co-op program, with over 57 percent of alumni completing at least one co-op term, supporting more than 3,700 jobs in Ontario each year.
These co-op roles directly contribute $481 million to Ontario’s economy. Co-op students generate another $505 million for employers annually.
“This independent analysis reinforces Waterloo’s role as an economic engine for Ontario,” Vivek Goel, Waterloo’s president and vice-chancellor, said in a press release. “From our founding, Waterloo was built to connect education, research and industry. That model continues to translate talent and entrepreneurship into measurable economic value and deliver strong returns on public investment.”
This impact reaches beyond just Ontario.
Across 160 countries, graduates from the University of Waterloo have started nearly 68,000 companies, creating 1.7 million jobs and generating close to $400 billion in global annual revenue.
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