The University of Northampton's Waterside campus.
The University of Northampton is preparing to publish the findings of its Economic Impact Assessment report.
……………………………….
THE UNIVERSITY of Northampton, in its current form, is one of the youngest universities in the UK. However, the institution has foundations dating back to 1924, with the establishment of Northampton Technical College.
Following several mergers and iterations over time, including Nene College and University College Northampton, research degree awarding powers and university status led to the establishment of the University of Northampton in 2005.
The next major milestone for the university occurred in September 2018 with the opening of its Waterside Campus, a capital investment designed to build a whole new, sustainable university that enhances the experiential learning of its students, including accommodation, facilities, and modern teaching spaces. The Waterside Campus is close to Northampton town centre, alongside the River Nene, and brought together UON’s two campuses into one central location, easily accessible for students, staff, and the wider community.
UON’s purpose is to create social impact and was recently ranked in the top 100 universities in the world by the Times Higher Education Impact Rankings for its role in reducing inequalities, supporting students, and improving sustainability. In 2023-24, the university was home to 15,370 students, and directly employed 2,580 staff. It is recognised as an anchor institution—an organisation with a significant presence in its locality through a combination of being a large-scale employer and a major purchaser of goods and services. As one of the biggest employers in the county, UON contributes economically, socially, and culturally.
Earlier this year, the university commissioned BiGGAR Economics to assess its economic and social impact over the past six years. Economic impact focuses on the financial and non-financial changes created within the local economy.
UON assessed two widely accepted economic measures:
Gross Value Added, which measures the monetary contribution that an organisation adds to the economy through its operations.
Employment, measured in terms of headcount jobs supported.
There are three significant types of economic impact:
Direct impact: Direct employment and economic output generated.
Indirect impact: Associated with supplies of goods and services.
Induced impact: Associated with staff spending their wages in the economy.
The scope of the commissioned work includes the county, the wider Oxford-Cambridge Arc, and the UK as a whole. The study reached out to other anchor institutions, including councils, healthcare trusts, major employers, and leading players in key sectors for Northamptonshire, such as logistics and manufacturing.
The Economic Impact Assessment will highlight many ways the university collaborates with businesses and other partners, showcasing the power of working together to support one another and the county as a whole.
At the report’s launch on December 4, key partners and stakeholders will hear a speech from Mike Reader, the MP for Northampton South, on the importance of the higher education sector as UON outlines its economic impact locally, regionally, and nationally.
- The full report will be discussed in the next edition of Business Times.
……………………………….
Stay connected with Northamptonshire business through Business Times. Join our exclusive community for the latest news, insights, updates, features and thought leadership.
Stay informed – subscribe now at bit.ly/437DsSm. Unsubscribe at any time.
