University of Suffolk 'adds £56m' to Ipswich economy
A university has generated £56m for the local community in its second year, supporting 1,210 jobs, a report found.
University of Suffolk students spent £33.2m in the borough of Ipswich in 2017/18, the economic impact report said.
The Ipswich-based university, which was given university status in 2016, is home to 4,530 full-time students.
As well as the economic impact the study says the university has been a catalyst for development in the town.
The independent report, which has been published by BiGGAR Economics, said that for each £1 of income the university generated £3.
It said the university generated £103m Gross Value Added (GVA) across the UK in 2017/18, supporting 2,270 jobs - more than half of which was in Suffolk.
Prof Helen Langton, vice-chancellor of the university, said it "set itself at the heart of its local communities and put economic growth at the centre of its strategy".
Amy Grant, 22, vice-president of the University of Suffolk Students' Union, said the report showed the university scored highly for bringing people from different backgrounds into higher education - with 25% of students coming from low participation neighbourhoods.
She said: "I think it is important not just to look at the money side of things but at the demographics of our student body, it shows we are having an impact on the local people as well as the local economy.
"There are a lot of NHS students - nurses, paramedics etc - who will stay in Suffolk. They are most likely to be offered jobs either where they have their placements or elsewhere in the wider region."
The report said the university had also been catalytic to the regeneration of the waterfront area.
The university, which employs 460 staff, was formerly known as University Campus Suffolk before being given full university status.