University of Northampton gives a 300 per cent return on investment

For every £1 spent running the university, the economy gets £4 back – is the headline figure of the UON Economic Impact Report launched today (4 December).

Politicians, businesspeople, and representatives of the public services also heard the University generated £823 million GVA for the UK economy and supported 10,610 jobs during 2023/24.

They all gathered for a breakfast networking event in The Engine Shed at the University’s Waterside Campus this morning and heard UON Vice Chancellor Anne-Marie Kilday present findings of the report.

Professor Kilday said Universities are an indispensable part of their communities supporting thousands of jobs directly and indirectly, are a powerful tool for social mobility, and that they support the public and private sector through research and innovation.

She added: “As we look to the future, it is vital to support and strengthen these partnerships between universities and their communities.  When universities thrive, so do their localities.  Through our strategic plan, the University has committed itself to listening to our stakeholders and work with them towards shared goals.

“Together, we can create a synergy that transforms Northampton, our County and the wider region into engines of progress, resilience and hope.”

Attending via video link, Northampton South MP Mike Reader reacted to the report and said: “The Economic Impact Report powerfully demonstrates how the University of Northampton aligns with our national Industrial Strategy and regional skills agenda.

“I’m particularly impressed by the £7 million generated through business collaboration, demonstrating the kind of academia-industry partnerships our Industrial Strategy aims to foster.

“I’m committed to ensuring University of Northampton remains at the forefront of this national agenda.”

Other key findings of the UON EIR include:

• £366 million GVA generated for Northamptonshire during 2023/24, an increase of 14% in real terms after accounting for inflation from 2018/19 and the pandemic.
• 5,410 jobs supported in Northamptonshire during 2023/24.
• £123 million of estimated unemployment costs avoided over a 40-year period thanks to the intake of undergraduates from deprived areas during 2023/24.
• 54% of graduates entered full-time employment in the education and health sectors, compared to the sector total of 38%.
• £7 million GVA achieved via collaboration with businesses by sharing the research and expertise at UON through Knowledge Transfer, work placements, and other services for business.

Visit the University of Northampton website to read the full Economic Impact Report.