Peter White thinks the numbers speak for themselves.
“This (report) reconfirms what everyone knows – Western has a huge impact on the city,” said White, the university’s executive director, government relations and strategic partnerships. “But being able to put this feeling into the specific perspectives of numbers and people, and where those things take place, that’s important for people to see.”
Released Tuesday, the Western University: Economic Impact Study Final Report placed the university’s total annual economic impact at $11.3 billion – with $3.6 billion of that felt in London. The study found 15,480 jobs in Canada are connected to Western – 10,840 in London alone.
“Western is deeply embedded into London’s social and economic fabric,” said Amit Chakma, president and vice-chancellor. “As we grow and play a larger role on the international stage, we are confident our position as a key contributor to the economy will continue to strengthen.”
From April to June 2014, KPMG LLP undertook an economic impact study in order to determine the university’s estimated economic impact taking into account everything from enrolment, employment and innovation to commercialization of new discoveries and company creation locally, regionally and nationally. Western’s affiliate colleges are not included in this study, which is based on data from 2012-2013.
The university had not conducted an economic impact study since the late-1990s.
KPMG credited the university with contributing $1.62 billion to Canada’s GDP through spending on operations and $146 million to Canada’s GDP – $120 million of that in London – due to capital investments.
Locally, the university injected $293 million in student living expenses to the economy, as well as $46 million as a result of an estimated 190,000 visitor-nights to Western.
“Unfortunately, we sometimes end up with negative stories on universities and their students’ impact in communities,” White said. “But I think the reality is – and these numbers show this – there are a lot of great things with regard to student impact in London.
“Postsecondary education is a real strong segment for London’s economy. What we do at Western, and with Fanshawe College’s impact on the east side of the city, postsecondary education is huge segment for the City of London in terms of economy, GDP and employment.”
Research undertaken at Western, and its two Research Parks, is estimated to have an annual cumulative contribution of $2.06 billion to GDP in Ontario – $720 million of that in London.
Western alumni living in Ontario improved their earnings by $4.95 billion as a result of their education at Western ($1.15 billion among alumni living in London). The estimated direct, indirect and induced impacts of this additional income are $7.43 billion in Ontario ($1.71 billion in London).
“The reality is, we are an extremely important part of London’s economy,” White said.