Cardiff University's PS1bn contribution to UK economy.
Cardiff University creates more than 13,000 jobs in Wales and contributes, directly and indirectly, more than PS1bn to the UK economy.
In 2013 Cardiff University alone generated PS518m of Wales' GVA (Gross Value Added) and its output amounts to PS455m with a knock-on effect of an additional PS613m in other industries throughout the UK, with the majority in Wales.
A report produced by Viewforth Consulting LTD for Cardiff University maps, for the first time, the economic impact of Cardiff University on the local and wider Welsh economy.
In total, it finds Wales' only Russell Group research-intensive University, taking into account the expenditure of its international students and students from the rest of the UK, generates some 13,355 jobs in Wales. That was the equivalent of nearly 1% of all 2013 Welsh employment.
"We know universities play a key role in supporting economic growth, improving opportunities, creating jobs and providing benefits for local communities, and promoting invention and innovation," said Cardiff University's Vice-Chancellor, Professor Colin Riordan.
"However, what this report does for the first time is to drill down at a local, national and UK level to provide a real insight into the key role Cardiff University plays in the economy of Cardiff, Wales and the wider UK," he added.
Cardiff University created 5,319 full-time equivalent jobs across a range of occupations and skill levels.
A further 6,091 full-time equivalent jobs were created as a result outside the University, with most based in Wales.
The University attracts 12,000 students to Wales from other parts of the UK as well as 6,605 students from outside the UK to study in Wales.
Non-EU students at Cardiff University generate PS93m for the Welsh economy or 792 full-time equivalent jobs.
Prof Riordan said: "It is clear that by attracting students from further afield to study in Wales, the University is attracting additional money into Wales and boosting export earnings.
"The study shows that Cardiff University is of significant economic importance to the Welsh economy, bringing immediate benefits to Wales in terms of output generated, jobs created and its contribution to Welsh GVA.
"Whilst the majority of our economic impact is felt in Cardiff, the University also has a significant effect in the economy of other parts of Wales, with nearly one-third of all economic impact occurring outside of Cardiff and in all other counties of Wales.
"This reflects the way in which expenditure impact ripples through the economy, so that even locations relatively distant from Cardiff will still have benefits from the university's activities."
Cardiff University recently recorded its best ever results for its research and is ranked the fifth best among UK universities for research excellence and second for its research impact.
It has plans to roll out a PS300m innovation campus and become one of the world's top 100 universities and top 20 in the UK by 2017.
The innovation campus would include a world-first social science research park called Spark, an Innovation Centre to help start-up firms, a Translational Research Facility that would assist in turning academic research into applications in the real world, and a Research Institute for Compound Semiconductor Technology.
The project would transform a site at Maindy Road in Cathays - already partly taken up with the recently-built Hadyn Ellis Building - from a largely disused former industrial space to a full-blown campus.
Thousands of jobs in Wales rely on Cardiff University
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|Publication:||Western Mail (Cardiff, Wales)|
|Date:||Jun 3, 2015|
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