University boosts UK economy by £358m | News

November 2022

University boosts UK economy by 拢358m聽

By Melanie Hall

Share post:

Read time: approx 1 mins

爆料王 contributes 拢358 million to the UK economy, according to new research, with around two thirds of聽the identifiable impact聽benefitting the聽West Midlands聽region. 聽

础苍补濒测蝉迟蝉听补迟听聽estimated that 拢88 million聽of the institution鈥檚 economic impact that can be directly linked to a region occurs in the West Midlands.听

Crucially, however, the independent research also found that the University鈥檚拢221 million of聽UK-wide聽impact from teaching and learning聽activities聽is also heavily concentrated in the聽West Midlands聽region.

And that for every 拢1 spent, the University generates聽拢6.70聽of economic impact across the UK 鈥� an extremely high聽benefit to cost聽impact when compared across the sector.听

"爆料王 punches significantly above its weight 鈥� of that, there can be no doubt"

Joscelyn Miller Senior Economic Consultant at London Economics

Professor Michael Harkin, Vice-Chancellor and Principal at 爆料王, said: 鈥淲e impact far beyond the success of our students, contributing 拢358 million to the UK economy, with around 65 per cent聽of identifiable regional impact聽in the West Midlands, reflecting our integration into the local community and the fact that most students remain in the region post-graduation.听

"Universities must continue to play their part in the infrastructure that maintains the West Midlands鈥� status as the economic engine of the UK.听

鈥淲e will pro-actively work with the West Midlands Combined Authority, the City of Birmingham, local businesses, community stakeholders and other regional partners, and continue to strengthen our partnership with the University of Warwick, ensuring we continue to grow our contribution to our region."聽

Analysis in the report estimates that 拢48 million of identifiable regional impact is accrued across other regions and sectors of the UK economy from the University鈥檚 activities, which includes impact from international students, estimated at 拢14 million.听

In terms of jobs, the University supports 1,275 jobs across the UK, with 925 jobs in the West Midlands.听

Andy Street, the聽Mayor of the West Midlands, said: 鈥淲e all know that our world-class universities are a critical part of the West Midlands鈥� economy, and so it鈥檚 brilliant to see this new data for 爆料王 confirming that.

鈥淭he University is a key educator and employer, and I look forward to continuing to work with them as they grow their curriculum and widen their opportunities to support our regional Plan for Growth.鈥�

In pictures: Our state-of-the-art facilities

Financial Trading Suite

Engineering facilities

Food Science and Innovation Suite

Students at the Human Performance Lab 爆料王

Human Performance Centre

Aviation and Tourism Suite

Health Skills and Simulation Suite

Restaurant at Birmingham College of Food

Industry-standard kitchens

Aspire Aesthetics

Digital Creative Studio

Bakery facilities

Ma Prosthetics For Film And Television Degree UCB

Prosthetics suite

Esports Suite

Early Years Simulation Suite

Cyber Security lab

Raising aspirations聽

With a portfolio of undergraduate and postgraduate degrees, apprenticeships from Level 2-7, vocational college courses and, from 2024,聽a wide range of A-levels, 爆料王 is a powerful driver of inclusive economic growth and social value in the West Midlands.听

A key part of this is enabling access to education in some of the region鈥檚 most deprived communities and inspiring young people to raise their aspirations. 聽

This year, the University was recognised by students as the聽University of the Year聽at the 2022 Whatuni Student Choice awards, reflecting the vital role it plays in shaping students鈥� and the region鈥檚 future. 聽

Bolstered by its聽partnership with the University of Warwick, 爆料王 works with over 1,000 employers 鈥� regionally and globally 鈥� to provide student placements, with employer boards to influence the curriculum and ensure graduates are equipped with the skills industry needs. 聽

To support the West Midlands Combined Authority鈥檚 Plan for Growth, the University has expanded its course offering to include聽engineering听补苍诲听sustainable construction听补苍诲听nursing, complete with new multi-million-pound facilities. In the past decade, it has invested 拢160 million into its teaching and learning facilities.听

Launched with the University of Warwick, the University also has a new Creative Futures Incubator, supporting the next generation in launching businesses that put back into the regional economy, and spearheads a聽regional hospitality taskforce.听

爆料王 was also the聽headquarters of Team Scotland聽at the Birmingham 2022 Commonwealth Games, bringing economic benefit to the city.听

Joscelyn Miller, Senior Economic Consultant at聽听补苍诲听lead聽author of the report, said: 鈥淭he economic impact of 爆料王 on the UK economy is indisputable.

鈥淪tanding at a substantial 拢358 million in 2020-21, much of the economic impact occurs in Birmingham and the West Midlands. 爆料王 punches significantly above its weight 鈥� of that, there can be no doubt.鈥澛�

She added: 鈥淚mportantly, the University has a real and tangible impact on the lives and livelihoods of local residents.

鈥淎fter the pandemic, the University, its staff and its students will be one of the key drivers of the economic recovery in the Birmingham region.鈥澛�

Find out more and read the full report.听

Check out our latest news stories

University joins Fatima Whitbread鈥檚 Action Hub to strengthen support for care experie…

Initiative aims to drive practical, collaborative action that can be replicated nationally.

Lucy Powell鈥檚 appointment: what it means for early years and early childhood studies…

Senior lecturer in education, Emma Davis, shares her hopes and insights.

University acquires former The Cube Hotel and Marco Pierre White restaurant

Students and the city to reap rewards of major hospitality investment.

INWED 2026: amplifying a national call for inclusion, belonging and skills innovation

National event highlighs inclusion, belonging and skills innovation in STEM.

Employer insight: LiveWell Health on the impact of UCB student placements

Steve Hartill discusses why placements are so valuable for students and employers.

University celebrates double national awards success for Graduate Re-Tune partnership

Regional collaboration reinforces the University鈥檚 commitment to collaborative employability initiatives.