The University of Glasgow sustains more than £1.5 billion of output in Scotland, according to a survey commissioned by the University.
The economic report showed that the University of Glasgow sustains almost 15,000 jobs in Scotland, 40% of which are located outside of Scotland’s largest city.
Around £900 million of output and £500 million of Gross Value Added (GVA) can be attributed to the direct impact of the University, its students and international visitors, the report said.
Glasgow Uni’s income rose to £569 million in 2014-15, which included over £172 million from research grants and contracts.
The survey is based on independent research conducted by 4-consulting and Viewforth Consulting.
The University’s ability to leverage is also documented in the report, which said every £1 of Scottish Government funding generates an additional £8.37 of output.
The study highlights plans for a £775 million redevelopment of the University’s Gilmorehill campus — the biggest single education project in Scotland — on the site of the old Western Infirmary.
The project will expand the University’s footprint on the city by 25%, creating around 2,500 jobs and adding over £130 million GVA to the local economy.
Plans include the creation of a learning and teaching centre, a research and innovation hub that will house large-scale interdisciplinary projects and incubator space for spin out collaborations with industry and the creation of a new ‘cultural quarter’ for the west end.
Part of this is taking shape already with the redevelopment of the Kelvin Hall with Glasgow Museums, Glasgow Life and the Scottish Screen Archives from the National Library of Scotland.
More than 27,000 students from over 140 countries study at Glasgow.
More than 300 formal agreements are in place with overseas partner institutions and a fifth of the University’s income comes from international sources.
Research income at Glasgow University alone more than doubled in the past five years to £20 million.
Professor Anton Muscatelli (pictured), principal and vice chancellor of the University of Glasgow said: “This report shows how significant the University of Glasgow is as a driver of the Scottish economy …
“As we move towards the hugely exciting opportunities that the redevelopment of our Gilmorehill campus will bring for staff, students, the local community and Scotland’s global reputation for education and innovation now is the right time to celebrate our economic impact.
“The University of Glasgow has long been regarded as a world leader in teaching, research and innovation. Working with our partners in Government, industry, the health service and other academic institutions we are now delivering major benefits to the Scottish economy.”