The University of Exeter pumped over a billion pound into the economy and supported 11,430 full times jobs in 2015/16.
Exeter University, which has campuses in Devon and Cornwall, in Exeter, Penryn and Truro, generated £1,172.1 billion.
This was made up of £371.5m and 3,895 full time equivalent (FTE) jobs supported directly through its turnover,£481.1m and 4,785 FTE jobs though secondary or ‘knock on’ effects in its supply chain and the expenditure of staff, £314m and 2,700 FTE jobs through the personal expenditure of students; and £5.6m and 47 FTE jobs from the spending of international visitors.
The figures were revealed in an , commissioned by the University of Exeter and undertaken by Viewforth Consulting, which was undertaken in Summer 2017.
gives a breakdown of the economic impact generated by the University in the academic and financial year 2015/16 (the latest year for which data was available) across a number of geographic regions and sub-regions.
Professor Mark Goodwin, Deputy Vice Chancellor for external engagement, said: "As a vibrant knowledge hub, the University plays an important role locally and globally.
"It is a large employer and economic contributor in Devon and Cornwall, and helps to support local growth and build on the region’s strengths and potential. The University is not only a world leader in terms of its world-class teaching and research, but it also has a major impact on the local, regional and national economy.
The impact on Exeter
More than £500m of that money supports Exeter. The institution makes a significant contribution to the local economy, supporting eight per cent of Gross Value Added (£320.5m) and seven per cent of employment (5,346 FTE jobs).
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International students and their visitors generated £113.5m, supported 1,111 FTE jobs and contributed £66.2m (1.6 per cent of the total) to Exeter’s GVA through tuition fees, charges for residence and catering and their off campus expenditure.
While most of the economic impact is derived from students from outside the EU, EU students support £21.3m in output, 207 FTE jobs and contribute £12.3m to local GVA.
The model suggest that in Exeter every £1m of the University’s own output generates an additional £0.23m in and 13.6 FTE jobs.
Steve Screech, general manager of Apple Central Taxis, says the university has a “massive impact” on the business.
“In term time, work from the university makes up about 30 per cent of our business. Outside term time it’s more like 10 per cent, which is still an important impact.
"Our busiest time of the year is graduation, when we might have 24,000 jobs in a week – compared to more like 19,000 or 20,000 on average.
"We have a great relationship with the university, and the business we get from students and staff has really helped our business grow.”
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Hannah Overton, marketing manager at Princesshay shopping centre, said: “Students make up a significant segment of our shoppers – about 7 to 11 per cent, depending on whether it’s term time or not.
“They are a real focus for us because they tend to live close and visit quite often, so we make sure we have brands that appeal to them.
We also run an event called Strictly Students every October, with late opening and discounts, and 3,500 to 4,000 students attend.”