University of Nottingham contributes £1.1bn a year to economy

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

Based on an independent assessment of economic impact by Oxford Economics; the 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.

Councillor Nick McDonald, executive member for jobs, growth & transport at Nottingham City Council said: “The University of Nottingham’s global reach and incredible reputation overseas  – as well as its quality both for teaching and research – is absolutely fundamental to the city’s brand, and to attracting inward investment, supporting trade and developing our city’s cultural diversity. What the University has achieved in developing its overseas presence is remarkable, and it is one of the city’s key assets.”