Report highlights UCLan’s importance to regional economy

The University of Central Lancashire (UCLan) is a financial powerhouse in Lancashire and the North West, according to a recently commissioned report.

Newly published figures highlight the major economic impact the Preston-based University has not only in the city but across the whole of the North West region.

During 2013/14 it contributed £200m to the North West economy and, through a range of economic effects, supported 4,300 full-time equivalent jobs across the region. In that time UCLan directly employed 3,290 staff, making it one of the largest employers in Preston.

UCLan’s has the ninth largest undergraduate population of all UK universities and this large student population is a great asset to both the financial and academic power of the area.

UCLan is Lancashire’s largest provider of graduate level qualifications, supplying large numbers of highly skilled graduates into the workforce. Graduates in 2013/14 are expected to contribute an annual average of £24m to the North West and £15m to the Lancashire economy over their working lives. The figures also show the University educated one in every two students at higher education institutions in Lancashire, while 1% of all the county’s residents were enrolled at UCLan at any given time.

“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.

Tim Fanning of Regeneris Consulting, added: “Our report shows that UCLan is making a very strong contribution to the local and regional economy. As one of a small number ‘anchor institutions’ in Preston, its contribution is especially important. “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.”