THE University of York generates £1.8 billion for the UK economy, according to an independent report.

The report by London Economics demonstrates the monetary and social value of the University of York locally, nationally and internationally.

Economic values were calculated based on the impact of students starting in 2016 - both during their studies and in their expected longer-term impact post-graduation - and the impact of research and university expenditure during the 2016/17 academic year.

Second only to university and student spending at £702.2 million, research at the university provided one of the largest impacts on the economy – standing at £537.1 million.

Of the £702.2 million economic impact of university and student spending, £603.5 million was spent in Yorkshire and the Humber. This economic impact supports 6,325 jobs, including those in employment at the university and across the wider region.

Acting Vice-Chancellor Professor Saul Tendler said: “In a challenging global economic environment, facing major societal and environmental shifts, impactful university research has never been more important. This report not only highlights York’s global significance in research, but also the research benefits to local companies, small and medium sized enterprises, and its contribution to new start-ups and spin-outs.

"Of our 17,500 students and 4,000 members of staff, the University expenditure is a significant injection of funds to the UK economy. The effect of this is particularly felt in in the city of York and the wider region."

The report will be launched at YorkTalks, a day-long showcase of talks on York’s research, on Wednesday at the Ron Cooke Hub, Campus East. The event is free and tickets can be reserved here: https://www.york.ac.uk/research/events/yorktalks/