New report shows value to University of Liverpool to wider city region economy totals £1.2bn and supports more than 15,000 jobs. Tony McDonough reports
New figures show the huge contribution the University of Liverpool makes every year to Liverpool city region in terms of GVA and jobs.
A new report published by the university – Economic and Wider Impacts Report – reveals that in the 2022/23 financial year its activities generated up to £1.2bn and supported 15,870 jobs. This equates to more than 3% of the total city region economy.
At the national level, the impact is up to £2.2bn and 26,630 jobs. The university generates an annual income exceeding £675m. That wider impact comes as a result of capital spend and supply chain impact to locally based staff and students.
Professor Tim Jones, vice-chancellor of University of Liverpool said: “The University is a proud and long-standing citizen of this great city, and we’re delighted to celebrate the significant contributions it has made to Liverpool city region and beyond.
“The University of Liverpool is a remarkable place that has consistently pursued excellence in education, research, and community impact.
“This report further contributes to the momentum we’re building towards realising our vision set out in Strategy 2031 of becoming one of the Top 100 universities worldwide.”
Other impacts are highlighted in the report. They include the wage premiums graduates enjoy, research collaborations involving ,300 external organisations across 40 countries and university partnerships in Europe, China, India, Canada and North America.
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City region Metro Mayor Steve Rotheram, added: “The University of Liverpool isn’t just one of our great assets—it’s part of the very fabric of our region’s heritage.
“As the original red brick university, its reputation stretches far beyond our borders, and its ambition to break into the world’s top 100 shows that its ambitions remain undimmed.
“But it’s about far more than just rankings. The University’s impact is felt on the ground, right here in our communities, helping to drive growth, create opportunities, and make sure that the Liverpool City Region is a place where everyone can thrive.”