Digital media is defined by Wikipedia – an appropriate source considering the subject matter – as electronic media that works on digital codes. Open Text chief strategy officer Tom Jenkins prefers to call it “TV for the Internet.” No matter how you say it, the recent Canada 3.0 forum in Stratford made it clear that digital media is our future and the digital economy could be what saves our country from drowning in the global recession.

When the two-day conference wrapped up, participants concluded all Canadians should have the opportunity to participate in a fully digital world and reap the economic benefits of innovation.

We need not look far to see the benefits of such innovation. While job boards in many cities are relatively bare, Research in Motion currently has 209 job openings at its offices in Waterloo and Cambridge. Open Text is hiring for 33 positions in Waterloo, never mind its openings elsewhere in Ontario, including Ottawa and Richmond Hill. And that’s just two companies – other Waterloo major high-tech firms include Sandvine, Dalsa and Descartes Systems Group.

So how did Waterloo become a high-tech hub and what can our area learn from it? One of the biggest factors is the knowledge base made available by the University of Waterloo. Last week’s forum was the premiere event hosted by UW’s Stratford Institute, showing that though there has yet to be a bricks and mortar campus established, the new school is already positioned to be a major player in digital media development across the nation and around the world.

There is no doubt the new campus will cause a flurry of economic activity not only in Stratford, but Perth County as a whole – a Deloitte study found when established, the Institute will generate about $26.7 million annually and will create nearly 200 jobs. With many expecting new high-tech firms to pop up in our area, even more positions will be created, which will also attract new talent to our area.

Admittedly, many of these jobs require a skill set many who have recently lost jobs in our community do not possess. However, construction of the campus and a student residence is expected to have a total economic impact of $56.4 million, creating about 180 jobs in that industry. And that in itself is good news for general labourers, skilled tradespeople and local construction firms.

While speaking at the forum last Tuesday, Premier Dalton McGuinty identified digital media as one of the country’s fastest growing sectors, noting it will be worth an estimated $3.3 trillion in the next three years. He threw his support behind Canada’s digital “risk takers,” many of whom have already worked hard to bring this emerging industry to our area.

And now it’s time for our community to step up to the plate and start making our contribution through the same hard work, innovation and entrepreneurship that has led to Waterloo’s emergence as a high-tech leader. We have the tools, we have the drive and we know we’re well-positioned to do so.                        – T.S.