U of M a $1.8B-economic engine: study
By: Staff Writer
WINNIPEG — The University of Manitoba is a $1.8 billion economic engine for Winnipeg and the province, an economic impact analysis released today says.
The analysis, commissioned by the university and produced by PricewaterhouseCoopers, said the institution stimulates the province’s economy in several ways including wages, taxes paid, capital expenditures, and spending by students and visitors.
"The University of Manitoba has a real impact upon the lives of all Manitobans," David Barnard, the university’s president and vice-chancellor, said in a statement.
"From direct economic benefits to cultural and social interactions that enrich and enhance lives, we make a difference."
The university has or will create more than 19,000 jobs resulting in about $745 million in labour force income.
As well, the university generates about $286 million in taxes, its 183,000 out of town visitors each year spend more than $102 million locally, and its out of town students spend more than $130 million.