The University of Dundee supports more than £740 million of turnover in businesses in Scotland, according to an economic and social impact study carried out by the Fraser of Allander Institute.
The report said one in every 12 jobs in Dundee – and more than 4,000 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, according to the study.
The study, commissioned by the University, also shows how Scottish Government funding is leveraged.
For every £1 of Scottish Government funding, the University of Dundee generates £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 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 studyshows 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.
The University has partnerships with some of the world’s largest companies.
In 2013/14, it was involved in 93 research collaborations with a total value of £42.3 million with 86 companies.
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 £3 billion regeneration of the city’s waterfront and is expected to create significant economic, as well as cultural, benefits for Dundee and Scotland.
Read the full study here: http://www.dundee.ac.uk/media/dundeewebsite/main/news/Economic-and-Social-Impact-Study-Brochure.pdf