Town economy boosted by £244 million by University of Northampton, claims new report

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The University of Northampton contributed more than £244 million to the economy of Northampton, according to a new report.

The Economic Impact report produced by the university also showed that a further £45 million was generated throughout the rest of the county and students delivered volunteering worth more than £800,000 to the community,

More than 3,170 people were helped to set up their own social enterprises or businesses.

University Vice Chancellor, Professor Nick Petford, said: “The University of Northampton has a major economic and social impact on Northamptonshire as an educator, employer, business influencer and force for positive social change.

“Through our activities, we generate over 2,700 jobs in Northamptonshire alone, putting us at the heart of the labour market here. In the 2013/14 academic year, over 1,500 students from across the globe moved to Northampton to study at the University, injecting an estimated £17million of off campus spending in the UK.

“Our impact reaches much further than the monetary spending of the University and our staff and students. We are unique in the Higher Education sector in the UK in that we examine our spending, operations and the way we teach and operate to identify how we can create a positive social impact on the communities around us.”

The report also said that the university had had a significant through partnerships with local schools, community groups and businesses.

A spokesman for the university said there were also significant capital developments included the university innovation centres, the £25 million St John’s Halls of Residences and the £330 million new Waterside campus, which will open in 2018.

“As the only university in the county, the University of Northampton uses its knowledge and expertise to influence positive social change to set the tone for Northamptonshire’s future.

“It has set four “Changemaker+ Challenges” at the heart of its Strategic Plan that set out to make Northamptonshire the best county in the UK for children and young people to flourish and learn; make Northamptonshire the leading county in the UK for Health and Wellbeing; Build the cultural and heritage traditions of Northamptonshire into world class attractions; Make Northamptonshire the best county in the UK to start, build and run a business.”

Professor Petford added: “We are committed to continuing to build on the good work the University is already doing to inspire positive social change in Northamptonshire and further afield.”