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  1. ITV Report

Newcastle University adds £1.1b to region's economy, says report

Newcastle University. Photo: ITV News

An independent assessment of Newcastle University’s contribution to the city of Newcastle and wider UK shows that it adds £1.1billion to the economy.

With over 27,500 students and 5,780 staff, the majority of whom are based at its city centre campus, Newcastle University is the 4th largest employer in the North East and accounts for 6% of all jobs in Newcastle.

With a total annual income of £475m, Newcastle University also has the fourth largest income of the 31 higher education providers in the North.

The economic analysis by Regeneris and Urban Foresight focusses on the year 2014-15, also shows the number of international students studying in the city and North East region.

With over 6,600 international students, from 120 different countries, Newcastle University has the 19th largest international student population of all UK universities, with 1 in every 66 international students in the UK studying at Newcastle.

In 2014-15, students at Newcastle University spent an estimated £240m in the North East outside of the University campus.

“Today, even though we have grown in scale and diversity, and are now operating on a truly global stage, with campuses in London, Malaysia and Singapore, we continue to have a profound impact on the city of Newcastle and the North East of England. The challenge is how – as an anchor institution in Newcastle – we build on this to address issues of social inequality in our region while recognising that we also need to adapt to the wider impact of Brexit, globalisation and major societal changes such as an ageing population.”

– Professor Chris Day, Vice-Chancellor and President, Newcastle University

The new report – the first to be produced by the University – also highlights the institution’s role in attracting new businesses and jobs to the region.

In partnership with Newcastle City Council, the University is creating Science Central – a £350m urban regeneration project on the site of a former brewery which is the largest of its kind in the UK.

“The close partnership we have with Newcastle University means the city benefits immensely from their world-class research, leading academics and talented students; all contributing to our local economy, our talent offer and to the vibrancy of our Great North City. “Our partnership with the University on Newcastle Science Central is one we are particularly proud of. It is a symbol of our shared vision and ambition spanning more than a decade. The strength of that partnership is now more visible than ever as their Urban Sciences Building nears completion, with new commercial and academic developments due to start on site this year, and two national innovation centres planned in the fields of ageing and smart data. We look forward to continuing our strong and growing civic-university partnership for decades to come.”

– Pat Ritchie, Chief Executive, Newcastle City Council