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Southampton University Contributes £1.3bn to Hampshire Economy

Posted by Richard Ward

Image courtesy of Flickr, Creative Commons

A new economic impact report estimates the University of Southampton contributes £1.3bn annually to the Hampshire economy, including £0.9bn to the city of Southampton.

The assessment by independent economic consultancy, BiGGAR Economics, is based on data from the 2015-16 financial year. It highlights the wider impact of the University through its supply chain and networks.

The University is also recognised as the second-largest employer in Southampton and has an annual turnover of £0.6bn. The University provides a range of benefits through its education, research, employment, purchase of goods and services, innovation and new businesses. It's also a heavy investor into the area, building facilities for research and education.

Not only does the report highlight the financial benefits the University brings, but also the social impacts of the institution in terms of health and employment both regionally and nationally.

Commenting on the report, the University's President and Vice-Chancellor, Professor Sir Christopher Snowden, said: "Those of us working in the university sector are very proud of the positive impact of our institutions and the fundamental contributions to the regional and national economies. The University of Southampton's impact reaches beyond the staff we employ and the talented students we educate. Through our education, research and enterprise activities, we also contribute to improvements in health and quality of life for people in the region, as well as more widely nationally and internationally."

The assessment follows on from a separate study from the Solent Local Enterprise Partnership on the combined impact of the three universities in the Solent region.