The University of Leeds contributes £1.3 billion to the UK economy, report finds

The Parkinson Building, University of Leeds.

Research carried out by independent consultants Viewforth explored the impact of higher education on the city of Leeds and the region as a whole. It showcases the University’s contributions to the economy, employment, skills as well as boarder social issues in the public and charitable sectors.

Title ‘Investing in Knowledge, Creating Oppuritinity’, the report found that the university contributes £1.3 billion to the economy every year. Additionally, every £1 million of revenue generated by the university, contributes a further economic impact of £1.31 million and £570 million for Yorkshire and Humber industries. It is also responsible for having created more than 100 spin out companies.

Speaking at the university yesterday, Vice-chancellor Sir Alan Langlands spoke of the tangible steps the university is taking to address its challenges. He said: “We are making a £125 million investment to integrate and grow our engineering and physical sciences, with a new Bragg Centre in the pipeline line which will provide cutting-edge technology in advanced functional materials, soft materials and nano-fabrication.

We are creating a University innovation and enterprise centre to enable students, graduates and research staff to work with you to create new high growth businesses. We have just made a £17 million investment in our internationally renowned Astbury Centre for Structural Molecular Biology that will enable us to compete with the best in the world.

“Just as the world’s climate is about to enter uncharted territory, following announcements of global temperature rises, we are launching an International Centre for Climate which will bring together researchers from across the University to work collaboratively with international partners to better understand and respond to the impacts of climate change.

Concluding, he added: “We want to engage with the LEP and many others to build new alliances and to support the ambitions of the Northern Powerhouse. We will also continue to support longer-term campaigns, for example as the City’s principal academic partner in its bid to become European Capital of Culture in 2023. And we would like to encourage you to think about how we can work better together – to increase our economic, social and cultural impact.”