University brings billion pound boost to Birmingham's economy
The University of Birmingham contributes more than £1 billion to the West Midlands economy annually and supports almost 12,000 jobs, according to research by Oxford Economics.
The University of Birmingham contributes more than £1 billion to the West Midlands economy annually and supports almost 12,000 jobs, according to research by Oxford Economics.
The University of Birmingham contributes more than £1 billion to the West Midlands economy annually and supports almost 12,000 jobs, according to research by Oxford Economics.
The report, which measured the economic impact of the University on the city of Birmingham and the West Midlands region during the 2011/12 academic year, was launched at the University’s inaugural Annual Meeting on 11th April 2013.
Oxford Economics found that the financial benefits of the University on the region was almost double the combined value-added economic impact of the eight largest football clubs in the region; a group which includes three current Premier League teams and two others who recently graced the top flight of English football. The research also found that the University contributed £898 million to the city, supporting 9,640 jobs, which is equivalent to one job in every 50 in Birmingham.
Speaking at the University Annual Meeting, the Vice Chancellor of the University of Birmingham, Professor David Eastwood, said: “It is clear that the University of Birmingham has a major economic impact on the region. The £1 billion figure demonstrates just how important higher education is to the development of the regional and national economy, even more so in the challenging financial environment.
“The University’s contribution to the region’s economy has increased by 38% since 2005/06. The number of jobs we have created at the University has increased by more than 5% in the last decade, in comparison to a rise of just over 1% in Birmingham as a whole. The stability this brings is helping to mitigate the impact of the recession and volatile employment levels in the region.
“The University of Birmingham is a leading global university. It is one of a small number of large and truly global organisations in Birmingham and plays a significant part in attracting international visitors to the region. I am extremly proud of the massive economic, social and cultural contribution that the University makes. ”
A full copy of the Oxford Economics report is available here. Highlights of the report include:
For media enquiries contact Jo Kite, Head of Communications,University of Birmingham on +44 (0) 121 414 6681