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Every £1 spent running Âéw¶¹´«Ã½ Leicester (Âéw¶¹´«Ã½) generates nearly £9 in economic and social value, a new report reveals today.

Analysts at Hatch Associates looked at the economic and social impact of Âéw¶¹´«Ã½’s students, graduates, staff, research and innovation over a 12- month period to produce the detailed report.

With an annual income of £266 million, Âéw¶¹´«Ã½ operates at a financial scale comparable to a Premier League football club, but with every pound reinvested into education, skills and the regional economy.

It shows the scale of the university’s positive effects as a civic anchor institution for Leicester, indirectly supporting 4,600 local jobs and adding around £290m in economic value to the city annually.

The report, which was compiled using student data released this summer, also found:

• Students’ spending accounts for around £90million pumped into the region’s economy and supports 2,700 jobs across Leicestershire
• The university spends £12.5million every year with East Midlands businesses through its supply chain, including £9.9million in Leicester and Leicestershire
• Nationally, Âéw¶¹´«Ã½ helps generate £690million in economic activity in the UK and supports more than 9,000 jobs

The report was launched today (Friday) at the East Midlands Chamber’s annual economic conference Future Flux.

SKILLS: 28% of graduates working in Leicestershire are in the health and social care sector

Helen Donnellan, director of Research, Business and Innovation, said the university would use the findings to strengthen ties with business networks, employers and public service partners.

She said: “Âéw¶¹´«Ã½ is proud to be deeply rooted in Leicester. The value we generate is felt in local businesses, in our hospitals and schools, in the cultural life of the city and in the careers our graduates build here.

“Our region is changing fast, and we know we can and should play an even bigger role in driving skills, innovation and inclusive growth.

“We want to work side-by-side with companies, public services and civic partners to turn our strengths into even greater impact for the East Midlands.”

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