Loughborough University
Leicestershire, UK
LE11 3TU
+44 (0)1509 222222
Loughborough University

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Loughborough University contributes £823m to economy new report reveals

20 December 2012

Loughborough University’s major contribution to the UK economy and employment has been revealed in a new report, highlighting the important role of the University in stimulating economic growth locally, regionally and nationally.

The report, which is based on the year to 31 July 2011, outlines the economic impact of the University as a whole including its staff and students and its campus-based partners and their staff.  It shows that the University generated expenditure in the economy of £823m and created Gross Value Added of £237m, sustaining over 12,000 jobs.

These impressive figures are a combination of the University’s own direct expenditure on good and services, together with the spending habits of its 2,600 full-time equivalent staff and almost 15,000 students, plus the expenditure of tenant organisations and their staff. The University campus, including its Science and Enterprise Park, is home to over 65 tenant organisations employing over 1,700 staff.

Leading independent consultants GVA Grimley produced the report. They used standard economic calculations based on direct expenditure to estimate knock-on expenditure within the economy and Gross Valued Added (which measures the value of goods and services on top of the cost to produce them) to find that for every job on campus almost 2 more are sustained elsewhere in the economy.

Commenting on the report, Vice Chancellor, Professor Robert Allison, said:

“I’ve seen national figures before but as Loughborough’s new Vice-Chancellor I wanted to understand the scale of the University's impact. We think around 50% of the impact is associated with funds from outside the region, including some from outside the UK, being spent regionally.”

These findings are only part of the story. The University’s graduates and the impact of its research findings in the development of new products and processes bring huge benefit to the national economy. The University is also looking to attract new partners to its expanding Science and Enterprise Park, bringing further high quality jobs to the region in the wake of the closure of Astra Zeneca.

The full impact can be broken down as follows:

Origin Direct and indirect expenditure Gross Value Added Jobs sustained
University £209.7m £46.1m 5,294
University Staff £126.3m £27.8m 1,172
University Students £228.7m £50.3m 2,123
Campus Tenants £194.8m £99.2m 2,846
Campus Tenant Staff £63.5m £14.0m 590
Total £823.0m £237.4m 12,025


−ENDS−

For all media enquiries contact:

Alison Barlow
Senior Public Relations Officer
Loughborough University
T: 01509 228696
E: A.J.Barlow@lboro.ac.uk 

Notes for editors:

Loughborough is one of the country’s leading universities, with an international reputation for research that matters, excellence in teaching, strong links with industry, and unrivalled achievement in sport and its underpinning academic disciplines.

It was awarded the coveted Sunday Times University of the Year 2008-09 title, and is consistently ranked in the top twenty of UK universities in national newspaper league tables. In the 2011 National Student Survey, Loughborough was voted one of the top universities in the UK, and has topped the Times Higher Education league for the Best Student Experience in England every year since the poll's inception in 2006. In recognition of its contribution to the sector, the University has been awarded six Queen's Anniversary Prizes.

It is a member of the 1994 Group of 11 leading research-intensive universities. The Group was established in 1994 to promote excellence in university research and teaching. Each member undertakes diverse and high-quality research, while ensuring excellent levels of teaching and student experience.