University worth £343 million a year to county

The report, produced by independent economic analysts Oxford Economics, was commissioned by the university to gauge its economic and social impact on the region and the wider UK economy.

For every £1 million of the £150 million the university directly contributes to UK GDP, a further £1.3 million is supported elsewhere in the UK economy, the report shows.

The university also supports 5,180 jobs across the region and generates £74.9 million in tax revenues, enough to pay the running costs for East Sussex Fire Authority for almost two years.

Meanwhile, the university’s significant social impact, the report says, is driven by its world-leading research, highly skilled graduates and civic-minded staff, as well as a strong commitment to social mobility and business innovation.

Adam Tickell, vice-chancellor, said: “This report shows we are a regional economic powerhouse with a hugely important role in the social and economic success of our surrounding areas.

“Our impact is felt both directly and through a powerful, ripple-like effect that stretches across the region and covers the length and breadth of the country.”

Michael Davies, Pro-Vice-Chancellor (Research), Chair of Sussex Innovation, said: “Universities are so much more than places of learning.

“As this report shows, highly engaged universities such as Sussex are catalysts for economic growth and social progress on a huge scale.”

While the greatest impact is on the local and regional economies, the report says that the university’s “economic footprint” is nationwide, adding £407 million to the UK economy, supporting 6,200 jobs and generating £100 million in tax receipts.

Oxford Economics drew on data from the financial year 2015-16 for the report.

It found that:

• The University of Sussex makes an important economic and social contribution to Brighton and Hove, Sussex and the wider region

• The university, its students and visitors spending in the local area generates £74.9 million in tax revenues.