Universities can lead the way to local growth

In a previous blog I wrote about the contribution The University of Nottingham made to the local, regional and national economy.

Today, HEFCE has blogged “Universities can lead the way to local growth”

They say, “to deliver new Local Growth Deals successfully will require local institutions, including universities, to contribute in a more active way.”

The University of Nottingham reported that it contributes £1.1bn a year to the UK economy and supports around 18,000 jobs across the country according to a new report.

‘The Economic Impact of The University of Nottingham’ – outlines the wider economic, social and cultural impact the University has on the city of Nottingham, the region and the nation.

According to the report, the University is one of the East Midlands’ most significant institutions, with 92 per cent of its workforce living in the region, and one in every 24 jobs in Nottingham being reliant in some part on the University. The total economic impact generated across the East Midlands each year by the University is £781m, and along with its £500m research portfolio, the University is at the heart of the Midlands Engine for Growth.

This contribution, both economically, and socially has to be set in context to the environmental sustainability of the organisation too. The concept of ‘net-positive’, where you consider the whole contribution of an organisation, helps best understand the core business of the organisation (in this case, teaching and research) and it’s contribution against the backdrop of other activities. So, whilst our carbon and energy reports show continued progress towards carbon emission reduction (for example) we know and acknowledge we still have a negative environmental impact but that we aim to minimise it. You can read about our energy and carbon performance here.

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