Economic impact of University tops half a billion dollars in GDP

Posted: January 21, 2016 3:00 p.m.

President Vianne Timmons giving her State of the University Address at the Regina and District Chamber of Commerce luncheon.
President Vianne Timmons giving her State of the University Address at the Regina and District Chamber of Commerce luncheon. U of R Photography.

The University of Regina has released a new study by Economic Development Regina Inc. on the economic impact of the University in the Regina region and across the province.

The study found that the University’s total Gross Domestic Product (GDP) is estimated at $408 million for Regina and $542 million for the province. President and Vice-Chancellor Dr. Vianne Timmons presented the study today to the Regina and District Chamber of Commerce.

“Our key priorities are to promote student success, produce research that has impact, and to serve our diverse communities,” said Timmons. “This study shows that the economic impact of these activities is significant, leading to more than half a billion dollars in economic activity, lower unemployment rates, greater earnings, and a more productive and innovative economy.”

The study reveals community assets that give Regina a competitive edge, which is termed as “The Regina Advantage”. The assets listed contribute to growing our City and region and provide opportunities that advance economic prosperity for those who live, work, learn, visit and invest in the Regina region.

Economic Impact
Click here for highlights from the report.

“The University of Regina is a critical asset to our economy,” said Economic Development Regina Inc. President and CEO John Lee. "This study not only showcases the economic benefits but the significant role the University plays as part of ‘The Regina Advantage’. One that we believe is critical to attracting investment and growing our community."

In 2014-15, the University, directly and indirectly, contributed approximately $82 million to federal government revenues and $69 million to provincial government revenues through personal and corporate income taxes, taxes on unincorporated business profits, and sales and excise taxes. These revenues exceed what the University receives in total combined funding from the federal and provincial governments.

University of Regina students provide both immediate and lasting economic and social benefits to the Regina region.

In 2014-15, 14,000 students (70% of whom are non-local) spent $200 million in Regina, supporting a further 900 jobs in the city and 400 jobs elsewhere in the province.

The University’s nearly 2,000 international students spent close to $40 million in the city. The total GDP impact of student spending was $119 million in Regina and $151 million provincially.

The economic impact of University students does not end at graduation. University graduates have lower levels of unemployment, earn more money and pay more taxes over their lifetime than those with a high school diploma.

The University’s more than 66,000 alumni play a key role in creating a more productive economy by increasing the supply of skilled labour and serving as role models in the community.

The University also helps connect Regina to the global economy. The University maintains academic partnerships with 110 educational institutions in 37 countries, 35 research partnership agreements with institutions worldwide, and attracts students from 120 countries.

Since 2009, the number of international students at the University of Regina has grown by 113 percent.  

To view the full report visit here.