Revealed: UCLan’s multi-million pound impact on the North West economy

The University of Central Lancashire (UCLan) made a nine-figure contribution to the economy of the North West during 2013/14, according to a new report.

The Preston-based university ploughed £200m into the region’s coffers during the period, with vice chancellor Prof. Mike Thomas calling the findings “fantastic news”.

He said: “We work very closely with the Local Enterprise Partnership and the report helps us understand how we can continue to maximise our local economic and social impacts as we implement the University’s strategy.”

The period also saw UCLan spend £15m with suppliers based in Lancashire and the North West.

Furthermore, the report found that UCLan’s 18,390 full-time students spent £210m throughout the region, with £155m of that total spent in Lancashire.

Mike continued: “As an ‘anchor institution’ within Preston, the university has a key stake in the future of the area and generates significant levels of spend and numbers of jobs.”

“Importantly, we help bring talented people into the region and to Preston which brings additional benefits to the visitor economy.”

Throughout 2013/14, UCLan also supported 4,300 full-time equivalent jobs in the North West. As it directly employs close to 3,300 people, the university is one of the largest employers in Preston.

Those who graduated from the university in 2013/14 are forecast to contribute a yearly average of £24m in the North West, and £15m in Lancashire, between graduation and retirement.

The report, compiled by London- and Manchester-based economic consultancy

Regeneris Consulting, was commissioned as part of UCLan’s multi-million pound Masterplan to create a new Preston campus.

UCLan is a member of the North and Western Lancashire Chamber of Commerce. The organisation’s chief executive, Babs Murphy, said: “UCLan’s contribution to the economy of Preston, Lancashire and the North West as a whole cannot be underestimated.

“To have one of the country’s best universities situated at the heart of our capital city is yet another reason for Prestonians to be such a proud group of people.”

She continued: “To see this backed up by such strong figures in terms of economic footprint, employment figures and GVA is very pleasing.

“And we are well aware that the contribution of UCLan is only going to increase with the ongoing redevelopment, the results of which I cannot wait to see.”

Regeneris Consulting’s associate director, Tim Fanning, said the report highlights the “especially important” regional economic contribution made by the university.

He continued: “UCLan also makes a strong contribution to providing the skills of local priority sectors, especially within the areas of health and social care.

“A range of developments planned for the coming years will bring opportunities for this role to be enhanced.”