Local and regional impact

While BU is responding to the challenge of preparing students and staff for life within a global society, its work is also a vital component of the local economy.

A key contributor to local and regional economies

In April BU published the first economic impact study to quantify its contribution to the local and regional economies.

The study was co-authored by Professor John Fletcher and research associate Dr Yeganeh Morakabati and determined that the University impacts the economy in a variety of ways:

• Direct expenditure on goods and services
• Payment of salaries and wages
• Student expenditure
• Visitor expenditure
• Indirect and induced expenditure as a result of increased levels of demand
• Enhancing the productivity of the local workforce through courses, consultancy and research
• Investment in human capital in the UK.

The study reported that BU’s activities supported over 2,700 jobs and accounted for some £430M of output across all sectors of the UK economy in 2007.

On a local level, BU has helped raise regional income by more than £35M while supporting the creation of over 1,000 full-time equivalent jobs, increasing economic output by some £170M.

The effects of student off-campus spending also made a major impact with the total spend contributing approximately £240M to regional economic output.

The report also estimated that graduates and postgraduates collectively increased their lifetime earning potential by over £600M as a result of gaining their awards from the University. The impact of the ‘BU experience’ on the earnings of all graduates since university status was achieved in 1992 is estimated to be more than £6,200M.

The report can be found at: www.bournemouth.ac.uk/economicimpact

Working with local partners

In July BU strengthened its links with local councils as part of the Multi-Area Agreement (MAA) for Dorset. This is a government initiative aimed at driving growth in local economies through partnerships that cross local authority boundaries.

The MAA is one of several approved nationally by Secretary of State for Communities and Local Government Hazel Blears MP. It will see BU work with the unitary authorities of Bournemouth, Dorset County and Poole as well as the district councils of Christchurch, East Dorset, North Dorset, Purbeck, West Dorset and Weymouth & Portland.

The Agreement’s three main priorities are skills, transport and sustainable growth. BU will lead initiatives around the skills and business development agendas to help increase the proportion of the population with university-level skills. This will ultimately increase the Gross Value Added (GVA) per employee throughout the region.

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