Creating £1.1bn in wealth and generating circa 11,000 jobs throughout the region each year, the University of Exeter – one of the world’s Top 100 universities – helps fuel development in Exeter with £540 million a year pumped into the UK’s fastest growing city! For the full story please read the article below which appeared in the Western Morning News today.
Roger Mundy, Managing Director, Beardsley Theobalds, 16th November 2017
University’s £1.1bn brings 11,000 jobs to region, says report
The University of Exeter is a key creator of wealth and jobs in the South West, a report has shown.
A total of £1.1 billion is injected into the economy annually by the university, generating 11,000 jobs in the region, the study reveals.
In 2015-16 alone, £540 million went into Exeter, helping to create more than 5,300 jobs in the city – the fastest growing in the UK.
The benefits are felt through the region, though, with 10,757 jobs generated across the South West by the university, partly through the campuses in Penryn and Truro in Cornwall, according to the study by Viewforth Consulting, which provides independent analysis in higher and further education.
Professor Mark Goodwin, deputy vice-chancellor for external engagement said: “The university is not only a world leader in terms of its world-class teaching and research, but it also has a major impact on the local, regional and national economy.
“From creating and supporting thousands of jobs in and around Exeter to attracting high-quality students from around the world, the university is an integral part of the local economy and community.”
Employment generated includes jobs at the university and those dependent on the spending of students and staff, ranging from that in shops and on taxis, to hotels for visitors to campuses, and by students’ families.
The analysis also shows that international students and their visitors contribute significantly to the local and regional economy, injecting more than £100 million into the region.
The spread of jobs includes 1,160 in the rest of Devon outside Exeter, 448 in other parts of the Heart of the South West (the Local Enterprise Partnership covering Devon, Plymouth, Torbay and parts of Somerset), 853 in Cornwall and the Isles of Scilly and 2,590 in the rest of the South West.
The university has 22,000 students from more than 130 different countries.
Professor Goodwin said the university – rated among the top 100 in the world – was focused on further improving quality and there were “no plans” to grow the number of students.
Despite fears among some universities of an exodus of European Union nationals after Brexit, Exeter has gained more than 100 staff from EU countries since the EU Referendum.
“Our reputation is such that we can add and retain staff,” said Professor Goodwin.