The study on the economic impact of the Co-operative Sector in Canada - Just released!

GROWMARK, Inc. and the FS Co-operatives provide sustainability and strong economic impact for Ontario farmers.

Conducted earlier this year, using data collected in 2015 from 5,730 co-operatives, a new and comprehensive study was released and provides a detailed portrait of Canadian co-operatives. Among other things, it presents descriptive statistics for 2015, five and ten-year trends, and the economic impact of the sector on the Canadian economy.

Commenting on the study, Claude Gauthier, GROWMARK,Inc. executive director Ontario operations, stated: “Co-operatives need to be recognized as a sustainable democratic business model. The agriculture co-operative network in Ontario has served its farmer-owners for more thanr 100 years, and today, FS Co-operatives account for more than one billion dollars to the Ontario economy.”

HIGHLIGHTS OF THE STUDY

 Co-operatives

·       In 2015, there were 5,730 co-operatives that reported in Canada.

·       Their volume of business was $85.9 billion, with assets of $503.2 billion. This represents 20.9% growth in volume of business and 42.5% growth in assets.

·       Memberships totalled 31.8 million, and the number of reported full-time equivalent employees was 182,253. This represents a 13.3% increase in membership and a 2.5% increase in the number of employees.

 The economy

·        The co-operative sector in Canada contributes $61.2 billion yearly to Canada’s GDP, an increase of 12% since 2010.

·           The sector injects $34.3 billion in taxes to all orders of government, an increase of 11.1% in five years.

·       The contribution of the co-operative sector to Canada’s GDP in 2015 was estimated at $61.2 billion, representing 3.4% of the national figure of $1,813.9 billion.

To view complete study, click here. 

The release of the study took place last week at the Co-operatives and Mutuals Canada (CMC)’s Congress 2019, Scott Banda of Federated Cooperatives Limited and Guy Cormier of Desjardins Group released the Study on the Economic Impact of the Co-operative Sector in Canada in 2015. Led by Dr. Fiona Duguid in partnership with George Karaphillis, the study confirms that co-operatives are an economic driver that contributes to the development of the Canadian economy.