University of Surrey Generates £1.1 Billion for Guildford and 14,500 Jobs

Published on: 30 Mar, 2023
Updated on: 29 Mar, 2023

A report into the economic impact of the University of Surrey claims it supports 14,500 jobs in the Guildford Borough with £1.1 billion gross value added (GVA) in 2020/21 as a result of its activities.

It also contributes, says the report, almost £6 to the UK economy for every £1 in income it received, and supported six jobs throughout the UK economy for every person it directly employed.

The Stag sculpture at the University of Surrey was installed in 2019.

The University of Surrey Economic Impact Report, produced by consultants BiGGAR Economics, says the university’s research and innovation contributes significantly to economic growth by supporting firms with their own research and development, directly commercialising university research, and through the impact of the their graduates.

The university directly employs 3,210 staff, equivalent to 2,735 full time equivalent posts. It spent £95 million on goods and services in that year, around 8% going to Guildford suppliers. It also spends around £45 million per year on construction projects in and around the campus.

The huge staff numbers directly contribute to the area as well. 30% of staff live in Guildford, 58% live in Surrey and 98% live in the UK.

Visits by friends and relatives, open days, conferences and events at the Surrey Sports Park was estimated to generate £4 million GVA and supported 260 jobs in Guildford.

Caroline Fleming, director of innovation at the university of Surrey and interim director of the Surrey Research Park, said: “We are a dynamic and forward-looking organisation that is proud of its positive contribution to Guildford, the county of Surrey and the whole UK.”

The largest national economic contribution of the university comes through its innovation activities which generated £660 million GVA for the UK economy, a 4.5% increase on 2018/19, and supported over 7,640 jobs in 2020/21, up 26.4% from 2018/19.

The university’s student community also added economic benefit to the area, generating £146 million to the Surrey community and supported 4,650 jobs through part-time employment, volunteering and starting businesses.