Auckland University Boosts Region By $3.1 Billion
auckland-university
Thu Oct 24 2002 13:00:00 GMT+1300 (New Zealand Daylight Time)
Auckland University Boosts Region By $3.1 Billion
Thursday, 24 October 2002, 3:44 pm
Press Release: Auckland University
University Of Auckland Boosts Region By $3.1 Billion
The University of Auckland contributes $3.1 billion a year in economic value to the Auckland region, a new study by the New Zealand Institute of Economic Research (NZIER) has found.
The study is the most comprehensive attempt yet to measure the University’s economic contribution to the region. In addition, the University brings social and cultural benefits, which although not measured in monetary terms, add to the region’s vibrancy and diversity.
“The University commissioned the study as part of an ongoing effort to provide information to the general community about our economic, social and cultural contribution to the wider Auckland region,” said University Vice-Chancellor John Hood.
“These findings graphically demonstrate that contribution.”
The study’s main findings are:
The direct expenditure of the University in 2001 was $406 million
After taking into account the direct, indirect and induced expenditure impacts of the University’s spending (using appropriate Statistics NZ multipliers),
the University contributed $1.46 billion to the Auckland regional economy
The direct expenditure of students that would not have occurred if the University were not present in the region was $543 million
After taking into account the direct, indirect and induced expenditure impacts of the additional spending by the University’s 29,465 students (19,305 of them full-time),
a further $1.63 billion was added to the Auckland regional economy
The University employed 3,293 full-time equivalent staff, and created another 3,293 full-time equivalent jobs in the region.
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The University is also a centre of research and technical expertise, and the knowledge generated by this research “spills over” – through various relationships and networks – to other researchers, the business community and society in general. The study does not attempt to measure these benefits.
For example, the University’s commercial research arm, Auckland UniServices, ran almost 1600 projects in 2001, ranging from development of cancer treatments to a community-based initiative aimed at addressing suicide rates among young Maori.
The University’s overall value to the region is therefore likely to be well in excess of the $3.1 billion of economic benefits identified by NZIER.
The study used data from the University, the New Zealand University Students Association and Statistics New Zealand.
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