Bradford College

College Benefits Economy?

Does the local economy benefit from the revenue created by Bradford College and other universities in Bradford and the district?  A recent report reveals the answers… 

The report, entitled: ‘Higher and Further Education in Bradford & District: An Economic Impact Assessment’ reveals that higher and further education is a substantial business, generating a combined revenue of £159 million!

The findings are based on data from the 2005-06 period and does not take Keighley College into account due to its recent merger with Park Lane College in Leeds.
The report illustrates the contribution the three further and higher education institutions in Bradford make to the district, which breaks down as:

• Bradford College - £54.2 million
• Shipley College - £7.2 million
• University of Bradford - £97.5 million
  

The institutions provide nearly 3,000 full-time equivalent jobs across a range of occupations. Their combined expenditure together with that of their staff and students generated economic activity across the UK, with a large proportion accruing to West Yorkshire.  Furthermore the development of their buildings is important in the physical regeneration of the surrounding area.  Bradford College is spending £140 million on a new and exciting campus project, making Bradford one of the most innovative learning environments in the country.

During 2005-06, the three institutions spent a total of £156.5 million. Bradford College and the University attracted over 4,000 non-UK students to the city, who spent a further £20 million off-campus. All these combined expenditures generated economic activity in the region and across the UK through secondary or ‘knock-on’ effects.

Overall, their combined activities generated over £392 million of output in the UK.   Around £257 million of this output was generated in the region, and £135 million in the rest of the UK.
The Colleges and University generated a combined direct output of £159 million. An additional £233 million of output was generated in other UK industries through secondary or ‘knock-on’ effects.

Mark Cleary, Vice-Chancellor of the University of Bradford, said: “Universities and colleges play a major role in the economic and social regeneration of their communities.”

The Vice-Chancellor continued: “My fellow Principals and I welcome the opportunity to highlight our combined economic impact on the city and region. We believe this report demonstrates not only the importance of further and higher education in Bradford’s regeneration but also our commitment to work together to ensure that we use our economic and social power collectively in tune with the needs of the district.”

Not only do the Colleges of Further Education and Universities play a major role in the economic and social regeneration of our community. Through their work in developing skills, to help well-qualified people find high-level jobs they’re creating the conditions for the development of a new knowledge economy.  This is vital for the economic/social well-being of our region and for the country as a whole!