University’s £386m contribution to the economy

THE significant contributions that the University of Chester – including its Warrington Campus –  makes financially, educationally, culturally and to society are examined in the newly-published Economic Impact Assessment (EIA) report.
The study was commissioned during a period of intense investment and development and showed it contributed £386 million to the UK economy last year.
It follows the University’s first EIA in 2012, which amounted to a £298 million annual impact.
Using a number of nationally recognised indicators, the 176-year-old institution’s worth to the wider world has therefore risen by almost a third in just three years, demonstrating the growing benefits that having a university can bring to a broad cross-section of the population.
Professor Tim Wheeler, Vice-Chancellor, said: “The University of Chester is one of the region’s key economic drivers; a multi-million pound business, which makes a measurable difference and which has been identified by the Government as a significant component in its ‘Northern Powerhouse’ aspirations.
“The university is constantly evolving, but its principles remain constant and embedded in our Foundational Values – ‘to recognise the vital role of education in the service of society; to encourage the acquisition of knowledge and the development of skills and we acknowledge a responsibility to look for every opportunity to put that knowledge and those skills to good use throughout the community.’
“We are proud and privileged to be able to make such a substantial difference.”
The university’s total economic impact includes supporting 6,960 full-time equivalent (FTE) jobs.
In Cheshire and Warrington alone, the university is associated with £1 out of every £181 spent, which indirectly finances one in every 130 FTE jobs.
The university educates and develops a high proportion of the region’s professionals, including dentists, nurses, midwives, social workers, teachers and police officers.
The university’s graduates are among the most employable in the region.
In total, 2,090 individual staff are employed by the university across its six campuses, in addition to NHS bases, with a £60 million salary bill.
Permanent staff are required to live within 30 miles of their place of work so a large proportion of their income is spent within or close to that catchment area, generating direct economic impact.
The university has more than 20,000 students – 15,568 taught at university campuses and the remainder by UK or overseas partners or by distance learning.
The Warrington Campus has undergone a multi-million £ transformation in recent years and provides course from a range of faculties, with the emphasis on public service and the creative industries.
It hosts the Warrington School of Management and the North West Media Centre, which enjoys links with national broadcasting and has its own radio station.
IKn addition, it trains the majority of Cheshire police officers and Warrington Wolves, sponsored by the university, uses the site’s sports facilities for its training base.