The Economics Of Education

Atlantic Canadian universities are also responsible for more than 60 per cent of the research and development done in the region, which was valued at more than $500 million in 2003 alone. This contrasts with the rest of Canada, where the private sector is the front-runner in the field. Halifax’s six universities represent about 2.5 per cent of the area’s economy, which seems small but in pure numbers they still play a significant role, said Mr. Halpin. "In Halifax, the universities employ over 5,000 people, making universities the fifth-largest employment sector in the local economy, larger than the provincial government." Their payroll is more than $294 million annually, he said. "The impact of the universities in metro is significant and it’s even larger from a provincial point of view," said Mr. Halpin. In Antigonish, St. Francis Xavier University represents more than 30 per cent of the area economy. In Wolfville, Acadia represents more than 36 per cent. "They’re central to those communities and it’s hard to imagine either . . . without (them)." Head down to the local Wolfville bar, the Axe, and the clientele is almost entirely students. So much so that the bar is only open one day a week in summer, compared to five days the rest of the year. http://thechronicleherald.ca/Business/855470.html

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