University of Dundee providing £740m boost to Scottish economy and supports over 8000 jobs
Published On Thu 16 Jun 2016 by Roddy Isles
- The University of Dundee contributes over £740M to the Scottish economy annually
- For every £1 of Scottish Government funding, the University generates over £7 for the Scottish economy
- 1 in every 12 jobs in Dundee is supported by the University’s activities
The University of Dundee supports over £740million of turnover in businesses in Scotland, according to an economic and social impact study carried out by the Fraser of Allander Institute.
The report shows how vital the University is to the economy of east and central Scotland. One in every 12 of the jobs in Dundee – and more than 4000 jobs across Dundee, Angus, Fife and Perth & Kinross – is supported by the University’s activities.
Including spin-off activity and spending by university students, the university supports over 8,000 jobs across Scotland as a whole.
The study, commissioned by the University, also illustrates the degree to which Scottish Government funding is leveraged for the greater good. For every £1 of Scottish Government funding, the University of Dundee generates over £7 for the Scottish economy.
“This report shows just how vital the University of Dundee is in helping drive the economy of east and central Scotland,” said Professor Sir Pete Downes, Principal and Vice-Chancellor of the University.
“The core activity of the University is teaching and research, areas in which we excel in many ways, exemplified by our current accolades as Scottish University of the Year, the best student experience in the country for six consecutive years, and our tremendously high ratings for research including being the top University of the UK for biological sciences research.
“But we also are a major employer and a vital driver of business and innovation. We are absolutely central to Dundee and Scotland’s ambitions, particularly in areas such as biosciences and healthcare, but also in culture, design and renewables.
“We attract students and staff from over 140 countries to the city and are helping to attract significant inward investment to Dundee and Scotland.”
The report shows that more than one-third (36%) of all university employees occupy highly-skilled academic or research professional positions, compared to a Scottish average of 4%.
In the past ten years the University has spun out a total of total of 33 new companies in the local area, many of which have involved commercialising the university’s scientific expertise. Dundee’s research record has allowed the University to develop a long history of working with industry, including ongoing partnerships with some of the world’s largest companies. In 2013/14, it was involved in a total of 93 research collaborations with 86 different companies, with a total value of £42.3 million.
The University was the originator of the project to bring the V&A Museum of Design to Dundee, and remains a founding partner in the project. The V&A is the heart of the £3billion regeneration of the city’s waterfront and is expected to create significant economic, as well as cultural, benefits for Dundee and Scotland.
Click here to download our Economic-and-Social-Impact-Study-Brochure
For media enquiries contact:
Roddy Isles
Head of Corporate Communications
University of Dundee
Nethergate, Dundee, DD1 4HN
Tel: +44 (0)1382 384910
Mobile: 07800 581902
Email: r.isles@dundee.ac.uk