Mr. Speaker, the 2002 KPMG Competitive Alternatives report was released earlier this week, ranking the Waterloo region as one of the foremost locations in the world to do business. The costs of setting up a business in the area are much lower compared to any of the U.S. cities matching our region's demographics.
Most of our local economy is made up of companies that are world renowned and were spun off from our excellent post-secondary institutions: the University of Waterloo, Wilfrid Laurier University and Conestoga College. The excellence of our tens of thousands of graduates drives the economic engine of my community.
The Waterloo region is Canada's technology triangle and I am proud the KPMG study has recognized our region to be amongst the best to invest in, in Canada and in the world.