University turning over ‘more than the average for Premier League clubs’
A new report published today shows that De Montfort University (DMU) adds £500 million to the UK economy – half of which is spent in Leicestershire.
With an annual income of more than £200 million, DMU’s turnover is greater than the average for all Premier League football clubs.
Regeneris has mapped the economic and social impact made by the university over one financial year. Its Economic Impact Report indicates that DMU spends £11 million with Leicestershire businesses on goods and services and £60 million nationally. Moreover, the report found that one in every 30 jobs in Leicester can be traced back to the university.
De Montfort also boasts the eighth highest number of graduate start-ups of all UK universities, and its students spend an estimated £240 million in the UK economy each year, supporting around 3,300 jobs.
Professor David Mba, pro-vice chancellor for enterprise, said: “We commissioned the report because we wanted to better understand the impact DMU has not only upon the city but also the region, and the UK as a whole.
“What it shows confirms our belief in the power of a modern university as a catalyst for economic growth. It highlights our strong links with local and national employers and industry as well as our civic role, which is important to us. Our students and staff make an enormous contribution to making Leicester the vibrant city is it today.
“Next year DMU will mark its 150th anniversary. We began by providing education and training for workers in Leicester industries. This new report shows that, today, one tenth of our city’s workers also study at DMU. It more than a matter of tradition – we continue to provide skills and talent absolutely vital to Leicester’s future success.”
Sir Peter Soulsby, mayor of Leicester, added: “De Montfort University is a major resource for Leicester and I’m impressed with how deeply involved the university has already become in the life of our city.”
