The University of Essex contributes more than £500m to the UK economy, a rise of 11% compared to the previous year, according to its latest Economic Impact Report.
The report shows the University has broken through the half a billion pound mark for economic impact for the first time as it attracted record numbers of students and turnover reached well over £200m.
The total figure combines the University’s total revenue across its three campuses and the indirect contribution to the economy through research, business collaboration and the cutting-edge courses delivered to more than 13,000 students.
University of Essex Vice-Chancellor Professor Anthony Forster said: "The University is a powerhouse that helps to boost productivity and drive growth through life-changing research and innovation.”
The latest report shows the economic impact of the Colchester Campus is now £478m. This includes delivering courses to more than 11,530 students, employing more than 2,000 staff and indirectly supporting over 2,000 additional jobs. The report estimates the contribution of students to the local economy – through their purchases and use of services - is £38m.