With ambitious growth plans, Keele University wanted to assess its economic impact and understand how it might change following investments aimed at driving local economic growth.
Regeneris worked with the university to map out its current and projected economic contribution. We focussed on the core university spend and the effect of its students. Our team also explored Keele’s impact on skills and productivity plus spending by visitors and support for businesses. We then looked at expansion plans and Keele’s local economic development initiatives such as its a smart energy demonstrator, incubation space and support for local businesses. Using this data, Regeneris modelled the local, regional and national economic impacts of the university.
Our report shows Keele will support over 800 businesses, create over 625 high-value jobs and contribute an additional £120m to the local economy between 2016 and 2023. The university’s growth from 10,500 to 13,000 students in 2023 could see its economic footprint rise to 5,600 jobs and £300m per year.
Keele University commissioned Regeneris to undertake an economic analysis of the University both currently and forward looking when a number of transformational investments would be realised. The resultant economic impact information was utilised to underpin the development of the Keele Deal, a plan for investment in innovation-led local growth with key stakeholders including the Local Enterprise Partnership. Throughout the commission Regeneris were robust, professional and moved expediently to develop the required information. Fast forward six months and the Keele Deal has been formally signed by all stakeholders and the evidence base utilsed to secure over £20m of investment. We would therefore wholeheartedly recommend using Regeneris to other organisations.
– Paul Hodgkinson, Head of Local Growth, Keele University
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