Hull uni worth nearly £1bn to UK economy

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Published: Wednesday 10th June 2015 by The News Editor

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The UK economy benefits to the tune of nearly £1 billion each year thanks to Hull University, according to a new report.

Biggar economics independent study, due for release next month, found Hull uni generated £913.2 million in gross added value and supported 7,972 UK jobs.

The firm’s analysis of the institution’s economic worth in 2013/14 further broke down the figures. It found the university generated 4,103 posts and £369.8 million throughout Hull alone. Overall some 5,004 jobs and £498.4m was generated in the Humber local enterprise partnership region.

The uni also made £41.9 million for Scarborough as well as initiating 372 jobs there.

A variety of factors were taken into account. These included open days, visitor tourism, extra graduate earnings, intellectual property commercialisation and the amount of money students spend and earn in the local economy.

David Richards is the university’s pro-vice-chancellor for research and enterprise. He said there would be a “very significant” impact on economies if Hull University did not exist.

He said this applied to not only the general UK economy, but Hull and the Humber’s too.

Copyright Press Association 2015

Published: Wednesday 10th June 2015 by The News Editor

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