University of Waterloo has driving impact on Ontario GDP
Posted Apr 19, 2026 12:45:26 PM.
Last Updated Apr 20, 2026 11:21:42 AM.
The University of Waterloo is known for its co-op programs.
These programs are chosen by many students for the advanced opportunity to gain work experience in the field, all the while getting paid. But the school’s co-op option not only helps students, but it also greatly benefits Ontario’s economy.
An economic impact assessment from EY shows that the University of Waterloo contributes nearly $7 billion to Ontario’s GDP through its co-op program, alumni activity and research enterprise.
What’s more, the report found that every $1 invested by the Ontario government in the University of Waterloo returns $8.16 in economic activity.
Waterloo hosts Canada’s largest co-op program, with over 57 per cent of alumni completing at least one co-op term, and supporting over 3,700 Ontario jobs each year.
These co-op jobs contribute $481 million directly to Ontario’s economy. $505 million is generated by co-op students for employers every year.
“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.”
That impact extends further than just Ontario.
Across 160 countries, University of Waterloo alumni have founded nearly 68,000 companies, creating 1.7 million jobs and generating almost $400 billion in global annual revenue.
