University of Northampton creates £290m boost to Northamptonshire economy and over 2,700 jobs – research shows
The University of Northampton’s significant social impact and contribution to employability and the local economy has been revealed in two new reports.
The University – which is celebrating its 10th anniversary – has released its 2015 Economic Impact Report Northampton which highlights the huge contribution of staff, students, and corporate spending on the economy – creating a total impact of £244million in Northampton, with a further £45million in the rest of Northamptonshire: a grand total of £289million positive impact on the County.
A complementary report exploring the university’s social impact details how, by embedding social initiatives throughout its work, the University has delivered student volunteering worth over £800,000 to the local community; supported a total number of 3,172 clients to set up their own social enterprises or businesses; and launched a new £8.5m Innovation Centre at the heart of Northampton for entrepreneurs and social ventures seeking to deliver social impact, value and change. University, the University has had a huge impact on the changing face of Northamptonshire through partnerships with local schools, community groups and businesses; as well as through capital developments, including the University innovation centres, £25 million St John’s Halls of Residences and the £330million new Waterside Campus, which will open in 2018.
University Vice Chancellor, Professor Nick Petford, said: “The University of Northampton has a major economic and social impact on Northamptonshire as an educator, employer, business influencer and force for positive social change.
“Through our activities, we generate over 2,700 jobs in Northamptonshire alone, putting us at the heart of the labour market here. In the 2013/14 academic year, over 1,500 students from across the globe moved to Northampton to study at the University, injecting an estimated £17million of off campus spending in the UK.
“Our impact reaches much further than the monetary spending of the University and our staff and students. We are unique in the Higher Education sector in the UK in that we examine our spending, operations and the way we teach and operate to identify how we can create a positive social impact on the communities around us.”
As the only university in the county, the University of Northampton uses its knowledge and expertise to influence positive social change to set the tone for Northamptonshire’s future. It has set four “Changemaker+ Challenges” at the heart of its Strategic Plan that set out to:
· Make Northamptonshire the best county in the UK for children and young people to flourish and learn
· Make Northamptonshire the leading county in the UK for Health and Wellbeing
· Build the cultural and heritage traditions of Northamptonshire into world class attractions
· Make Northamptonshire the best county in the UK to start, build and run a business.
Professor Petford continued: “We are committed to continuing to build on the good work the University is already doing to inspire positive social change in Northamptonshire and further afield.”