Lancaster University contributed nearly £2 billion to the economy in a single year, according to a new report launched this week.
The detailed analysis, produced by consultants London Economics, assessed the economic and social impact of Lancaster University across a single year 2021-22.
Some of the key impacts captured included:
· £2 billion total economic impact across the UK 2021-2022
· 61% of this £2 billion total directly impacted the North West
· Every £1 invested in the University’s research activities generates £9.16 for the UK economy 2021-22
· Lancaster University supports 8,805 jobs across the UK economy, 6,085 of which were located in the North West.
Of this £2 billion:
· £726 million came from the University’s research and knowledge exchange activities
· £551 million from the University’s teaching and learning activities
· £352 million generated by the operating and capital expenditures of the University
· £341 million from the University’s educational exports via our international students
Lancaster University, which commissioned the report, serves as an anchor institution and leading university based in the North West and celebrates its 60th anniversary this year.
As a centre of expertise in subjects from management and the arts to cyber security, defence and nuclear, the University has educated and trained generations.
This talent includes doctors, architects, social workers, lawyers, scientists, creative practitioners and economists – all helping generate national growth and prosperity.
Alongside their social and cultural impact, Lancaster graduates can be found in the four nations of the United Kingdom and beyond working in important leadership positions, investing in our country, using their skills to improve the lives of others and giving back to their communities.
Professor Andy Schofield Vice-Chancellor of Lancaster University said: “We are a global institution, rooted in our local community, and this report evidences our significant benefit to the economy, both locally and nationally.
‘’We provide tangible jobs and new skills, and attract investment for our region, whilst also making a significant contribution to national prosperity. We celebrate this alongside our globally recognised research that improves the lives of the people of Lancashire, the UK and beyond.
“The region now stands on the precipice of a great expansion as companies, organisations and institutions come here seeking the diverse and highly skilled workforce, remarkable people and beautiful surroundings we have to offer.
‘’Lancaster University is proud to be a magnet for talent coming into the region and to offer back impactful research and innovation, as well as qualified graduates, all contributing to the success of the region and country.”
Morecambe children's nursery announces plans to close during extreme heat
Lancaster MP responds to Sir Keir Starmer's resignation as Prime Minister
Carnforth High School praised as a "caring community" in Ofsted report
Body of man found in Lancaster park
LISTEN and PHOTOS: Armed Forces weekend will return after massive crowds enjoy biggest ever event
Morecambe MP says Sir Keir Starmer "has made right decision" as Prime Minister resigns
Limited edition artwork will raise vital funds for Lancaster community group
Green Heritage Plaque marks first home of Lancaster University
New home revealed for £20m Morecambe West End regeneration scheme
Wooden nests take flight in Lancaster and Morecambe to stop decline of endangered birds
Veterans salute as Armed Forces Day flag raised at start of celebration weekend in Morecambe
Vandals cause delays to aqueduct sinkhole repairs in Lancaster
Extra Care scheme to open in Lancaster
Three people taken to hospital after road traffic collision in Morecambe
Injured police officer speaks of anger after jailed man freed 16 days after sentence
Morecambe woman to brave the shave to help dogs stay with their families
M6 near Lancaster to close for resurfacing
Full line-up for biggest ever Armed Forces weekend in Morecambe
Lancaster District residents thanked for embracing food waste recycling
More gridlocks in Heysham as roundabout resurfacing works 'over-run'
