Report shows Suffolk University's economic impact
2 July 2019, 08:22 | Updated: 2 July 2019, 08:24
An independent report has today been published showing, for the first time, the economic impact of the University of Suffolk.
It comes as the University approaches its third anniversary and shows that in the academic year 2017/18; the University generated £103 million Gross Value Added (GVA) and supported 2,270 jobs across the UK. Of this, £41 million GVA and 820 jobs were in Ipswich, and £56 million GVA and 1,210 jobs were in Suffolk.
The report recognises the University's impact beyond its economic contributions. It notes that the University is credited for being a catalyst for change in the regeneration of the Ipswich Waterfront; for supporting the delivery of key frontline public services in health and education and for establishing an educational institution that is embedded within the local business community and responsive to its needs.
One of the biggest impacts is the creation of the University itself. The report noted the multi-layered impact that has come as a result of creating a higher education facility where none had previously existed.
Before the creation of the University of Suffolk in 2016, Suffolk was one of just four counties without a university and experienced lower than average progression rates into higher education.
Professor Helen Langton, Vice-Chancellor of the University, said, "From its earliest days, the University set itself at the heart of its local communities and put economic growth at the centre of its strategy, delivered through high quality teaching, research and business engagement.
"It is very pleasing to receive such a positive assessment of our progress independently measured for the first time."
John Dugmore, Chief Executive of Suffolk Chamber, said: "The BiGGAR Economics report provides the data that underscores what Suffolk Chamber and the wider business community have known for a while; that the University of Suffolk is showing sustained and ongoing growth that gives an economic boost to local prosperity.
"Aside from the big, bold figures on GVA and job creation, we know that the approach of the University to engaging with businesses and providing spaces for them at facilities such as the Ipswich Waterfront Innovation Centre is fostering a culture of partnership and understanding that will stand all partners well for the future."