Partner Article

University announces 'ten step plan' to help regional economy

Following the NECC’s announcement of a plan to help the region deal with the current financial crisis, Newcastle University has announced their own plan to help the region’s businesses during the credit crunch, including passing on savings from the recent reduction in VAT.

“As we start the New Year, a great deal of uncertainty still prevails over the global financial situation and many local businesses are finding it difficult to plan for the future,” said Professor Paul Younger, Pro-Vice-Chancellor for Engagement.

“While the University already spends much of its annual budget of £350m with local companies, these uncertain times warrant a concerted effort. This package of measures is intended to help more local businesses, families and individuals weather the effects of the global economic downturn.”

Newcastle University’s Ten Steps for the North East are:

1. Make it easier for people in the region to work productively with the University as suppliers or clients; beginning with an open access event at the University’s King’s Road Centre from 10:30 am to 3:30 pm on Friday 30 January
2. Secure hundreds of construction jobs by maintaining the University’s current £200m programme of investment in its campus, which is currently mid-way through completion.
3. Bring forward other significant capital projects, including refurbishing lecture theatres and laboratories.
4. Accelerate the programming of maintenance and improvement works on our outdoor estate.
5. Invest in improvements to the energy efficiency of the University’s residential properties, requiring installation of insulation and other measures.
6. A business voucher scheme for small and medium-sized companies in the region, where vouchers up to £5k in value will be given to businesses, which can be redeemed against training or specialist advice from the University.
7. Arrange subsidised access to courses to help re-skill people who have been made redundant, and expand the University’s curriculum provision to better meet the training and development needs of employees in regional companies.
8. Reduce average payment times to all suppliers by nine days.
9. Expansion of the University Career Service’s Newcastle Work Experience scheme, which gives small businesses low-cost access to students to undertake specific pieces of work.
10. Expand provision of free cultural and educational activities for the benefit of families on a tight budget.

This was posted in Bdaily's Members' News section by Ruth Mitchell .