Economic development
Partnering to drive economic development across Ontario
May 24, 2019

In Canada and across the globe, sustainable economic growth is a key metric of success.

We were recently reminded of the importance of economic growth within our local communities. Economic Development Week, promoted every year by the International Economic Development Council (IEDC), aims to increase awareness of “local programs that create jobs, advance career development opportunities, and improve the quality of life in communities everywhere.”

Innovation is key to driving business growth and economic prosperity. In Ontario, a large source of that innovation stems from the growing partnerships between employers, universities, communities and government.

Ontario’s universities are large employers and an important part of the fabric of the communities in which they reside – whether in big or small cities – and they continue to work to be good partners and neighbours.

University activity boosts economic development in many ways: through the commercialization of research; entrepreneurial projects that drive new businesses and create jobs; shared spaces that allow local businesses access to bring their products to market readiness; and knowledge-sharing initiatives with local municipalities and other community partners.

Here is just a small sample of the links between universities and the economic development of communities across Ontario:

These examples demonstrate the power of partnerships and how they lead to knowledge-sharing and job-creation for the social and economic good of our students, communities and the province.

In our rapidly changing world, sharing ideas and talent is key to solving problems and creating a better future for us all. Ontario’s universities, in partnership with local communities, businesses and government, are well positioned to provide both immediate and lasting contributions to individuals, as well as to local and provincial economies, helping to build a strong economy that makes Ontario an attractive place to live and to invest.