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CRAFTERS PLNYWOOD nvwd,’o\fin;mu p speciatties z. FOR THE FINER THINGS IN WOOD Visen Frecision 182 Weber St. N. Waterioo 885â€"5850 _ Ground Scroll Saw {Just south of University Ave.) BALTIC @ussian) BIRCH Blades Available Excellent for: * Scroll saw work * Furniture * Work Tops * Pattems * Jigs * From 1/8" to 3/4" Regional council decided last week how to divide up a potential $40 million in provincial Superbuild Millennium funding being allocated to municipalities to help finance major capital projects. Since the City of Waterloo will receive a major chunk of the _ proposed _ funding because the project is locatâ€" ed within its jurisdiction, its share of the provincial pot was rolled back into the alloâ€" terloo Region has W?eaffirmed its supâ€" port for a research and technology park on the campus of the University of Waterloo by dedicating a major portion _ of _ its Superbuild funding allocaâ€" tion to the project. Region dedicates portion of Superbuild funds to new research and technology park Gataxy Cinemas, Te Bay, Zeuters, Zenes, Wiwners, Srort CHex MON â€" FRI 9:30 AM â€" 9 PM _| SAT 9:30 AM â€" 6 PM | SUN 12 NOON â€" 5 PM 550 KING STREET NORTH, WATERLOO, ON N2L 5We | TEL:(519) 886â€"5500 CONESTOGAR MALL By Bos Vrsanac _ Chronicle Staff October Wednesday, Oct. 17 to Sunday, Oct. 21 October Sidewalk Sale Kitchener will get more than $6.7 million, Cambridge more than $4.1, Woolwich $723, 730, Wilmot $561,017, North Dumfries $376,743 â€" and â€" Wellesley $309,495. Regional Chairman Ken Seiling said that regional council went on record as a partner in the project well before the province decided to hand out these allocaâ€" tions provincewide. The region had already commitâ€" ted $5.7 to the $214â€"million research and technology park that will be located on the University of Waterloo‘s north campus. "Our report just reflects the fact that we‘ve already given that approval and that cation for the region and other area municipaiities. That adjusted allocation, adepted by the region at a council meeting last Wednesday, _ means â€" the region will get more than $27 million of that provincial funding. 664â€"3149 _ www.alexshoes.com Mou C tove Hush Puppies sar shseo! 1369 King Street, St. Jacobs (upper level parking at rear) \ _ fliexandrias Sky . Nine West Franco Sarto sors for wome The report says UW is responsible for more than 23,000 jobs in the area, with one out of every 20 having some tie to the university. The knowledge created at the school has also been responsible for spawning more _ local _ companies including international players like Dalsa, Open Text and Research In Motion. "It will maintain technolâ€" ogy here, and will see research and development take place in the region," he said. "That will have major spinoffs not just for the region, but for the province and for Canada." A recent study done by the _ accounting _ firm PricewaterhouseCoopers, released to the region Sept. 26, conservatively estimates that UW brings in more than $1.1 billion of economic activity in a year. we‘re recommending our community partnership and allocation to the park," he Seiling said the project will have a major technologâ€" ical impact for the entire region, spinning of indusâ€" tries and jobs that will power the local economy into the next century. And the spinoffs are immense, according to a recent report commissioned by _ the _ University _ of Waterloo. "I found the results stunâ€" ning," said Johnston. "It borâ€" ders on the incredulous when 1 found out that the University of Waterloo was responsible for 22 per cent of the spinoff companies created â€" from â€" Canadian Universities according Statistics Canada data. "It‘s a centre of the counâ€" try that has always had an export mentality," he said. "We began as a farming community, but â€" added manufacturing and never saw local markets or provinâ€" cial markets as the boundâ€" It‘s â€" something _ that Johnston thinks will contin ue to be the strength of the local economy thanks to the commitment made by all levels _ of _ government although _ final _ funding approval for the Superbuild allocation still hinges on the province. "The research and techâ€" nology park would take us to a new dimension because it would serve as a further magnet for talent in this area, and would take the university to a next stage of critical mass in developing knowledge and taking it into innovative applications." Those visitors alone genâ€" erate more than $21 million for the local economy after leaving some of the money they bring with them at local restaurants and stores. UW _ President â€" David Johnston said those figures were an "eyeâ€"opener" when he first saw them. That impact will only grow with the establishment of the research park that is expectâ€" ed to bring in more than $150 million in private investment. "It‘s remarkable that one university would have such a disproportionate share of spinoff companies." "I think that not only continues today, but triâ€" umphally so. Much of the information technology produced here is exported well beyond Canada." "This university has been a strong participant in the new economy, which is based on adding value through ideas. UW is also a major destiâ€" nation for visitors bringing in more than 360,000 people a year, ranging from stuâ€" dents and their parents to visiting academics. Johnston cited the entreâ€" preneurial nature of this tegion as one of the factors in UW‘s success. Coâ€"operative education is also a pillar of UW‘s sucâ€" cess with the merging of theâ€" ory and application. It‘s allowed the university to move from knowledge to innovation, a pillar of the new economy. "The research and tech nology park will be an important engine in continâ€" uing the process of moving from an old to a new econo my in our region," said Johnston.