University is key to city's economy

A recent study has revealed that Bondholder University of Derby contributes hundreds of millions of pounds to the city’s economy. 

A study by Prospect Research has estimated that for every £1 spent by the university, a further £1.36 is generated in Derby’s economy. In total the university generate £270 million worth of spending a year, and support more than 5,000 jobs. 

The study also found that students offer a boost to the local economy, spending around £224 million a year off-campus on local amenities, including entertainment, leisure, retail, and private sector rental. 

The report states: “The university accounts for 0.3% of East Midlands gross value added, which is noteworthy for a single organisation.”

Kathryn Mitchell, Vice-Chancellor of the university, said: “This study conveys how we as an institution contribute significantly, not just to the city of Derby, but also within the East Midlands and nationally.

“The data in this survey demonstrates the importance of the university to the city and beyond and we are keen to continue working to enhance our impact even further.”

The study also showcased the university’s impact on employment; for every 100 jobs created within the university, another 97 are generated outside. Impact from University of Derby graduates has even been felt in the film industry. 

Eight graduates have even worked on the world premiere of the latest Bond film, Spectre, at the Royal Albert Hall.

Tom Denny and Alex Huggins worked on the lighting with Limited Edition Event Design, whilst Ben Hawkes, Ian Brown, Ben Coxon and James Coghlan helped in the construction of the stage with Impact Production Services. George Easey and Ben Thurston set-up the screens with Anna Valley Displays.

Simon Lewis, programme leader for Sound, Light and Live Event Technology, said: “We’re incredibly proud to see so many of our graduates working on this spectacular event.”