University College Dublin Contributes €1.3 Billion Annually to Irish Economy According to New Impact Report Launched by An Taoiseach Enda Kenny TD
An Taoiseach Enda Kenny TD last night launched a new report which highlights the economic, cultural and social impact of University College Dublin (UCD).
The report, launched at Government Buildings, underlines UCD’s key role as a major economic actor and employer in Dublin and in Ireland.
The key findings outlined in the report are that the total economic output generated by UCD and its students in Ireland amounts to €1.3 billion annually and that the total number of jobs they generate is 8,914.
These findings are based on a detailed impact assessment, a summary of which has been published, carried out by Viewforth Consulting to ascertain the value and impact of UCD’s activities to the local and wider Irish economy.
The report is entitled Delivering Impact: The Economic, Cultural and Social Impact of University College Dublin.
Pictured at the launch are Professor Orla Feely, UCD Vice-President for Research, Innovation and Impact; An Taoiseach Enda Kenny TD and Professor Andrew J. Deeks, UCD President
Launching the report An Taoiseach Enda Kenny TD said, “This report highlights that University College Dublin, as Ireland’s largest University, is playing a key role as an economic force in Dublin and in Ireland overall. UCD is not only creating economic activity, stimulating and supporting over 8,900 jobs but generating output across a wide range of economic sectors. UCD also has a key role to play in Ireland's ongoing economic recovery. The best international companies are attracted to Ireland because of the range of talent and skills available to them here. UCD is at the forefront in Ireland in educating the next generation of leaders in all disciplines."
Professor Andrew J. Deeks, UCD President said, “Impact reports, such as Delivering Impact, are increasingly important and are being widely applied across the international higher education landscape. As such this is the first report produced by the university to identify and quantify the diverse ways in which, UCD, Ireland’s most globally engaged university, is making an economic, cultural and social impact, both nationally and internationally.”
He added, “We will use these impact results over the next few years to realise our strategic vision for 2020.”
The economic findings contained in the Report are complemented by a series of case studies, two examples of which are outlined below, highlighting the broader impact of the university.
Pictured at the launch are Andrew Byrne,a final year UCD BComm student and auditor of the University College Dublin Volunteers Overseas (UCDVO) Student Society; An Taoiseach Enda Kenny TD and Professor Madeleine Lowery, a biomedical engineer in the UCD School of Electrical, Electronic and Communications Engineering
University College Dublin Volunteers Overseas (UCDVO), launched in 2003, has eight partnerships with NGOs, community groups and educational institutes in countries including Haiti, India, Nicaragua, Tanzania and Uganda. Annually around 125 UCD volunteers are placed on projects which to date include the provision of 19 houses, five schools and two health centres.
Since 2003 UCDVO has placed 12,900 children in education programmes and donated 570 computers to over 20 schools. Some 800 people have been employed annually by local partners, 335,200 meals have been provided all of which has an estimated social economic value of just under €800,000.
UCD staff members frequently engage in additional public service activities, both inside and outside working hours. This pro bono work makes a valuable contribution to society and the economy. In the academic year 2013-14, over 1,500 UCD staff contributed over 22,000 days to public service activities. This equates to a conservative estimate of €10 million worth of services to local, national and international communities in addition to core teaching, research and administrative work at UCD.
Professor Orla Feely, UCD Vice-President for Research, Innovation and Impact said, “This report demonstrates that as well as the significant financial contribution UCD makes to the Irish economy, the work we undertake also has a substantially broader social and cultural impact.”
“The knowledge and talented individuals that emerge from UCD research and innovation activities are essential drivers of a knowledge economy. Our researchers also address important social questions and produce creative and cultural outputs that enrich and inform Irish and global culture. And ultimately UCD’s greatest impact is seen in the many successes of generations of our graduates nationally and globally.”
The report entitled Delivering Impact: The Economic, Cultural and Social Impact of University College Dublin is available to download via www.ucd.ie/innovation/newsevents/deliveringimpact/
27 May 2015
For further information contact Micéal Whelan, University College Dublin, Communications Manager (Innovation), t: + 353 1 716 3712, e: firstname.lastname@example.org, Emma Fadden, University College Dublin, Communications Manager (Research), t: + 353 1 716 4005, e: email@example.com.
UCD’s Total Economic Output
In determining the total economic output of the university Viewforth Consulting modelled UCD’s (2012/2013) revenue or turnover of €421 million which equates to its institutional or direct output. The university in spending this money to purchase goods and services and the university’s employees spending their salary payments generated a secondary economic output of €429 million. The personal spending of UCD’s over 25,000 students (2012/2013) enrolled in Ireland generated an additional €448 million bringing to €1,298 million the value of the total output generated by UCD in Ireland.
This total economic output generated by UCD equates to €570.6 million Gross Value Added (GVA) which is equivalent to 0.35% of Irish GDP (2012).
UCD’s Impact on Employment
UCD ranks as one of the largest employers in Dublin directly employing (2012/2013) a large and varied workforce of just over 4,000 people (or 3,340 full time equivalents (FTEs)).
UCD also generates significant further employment elsewhere in the economy, in Dublin and beyond. This secondary employment, which occurs as a consequence of the significant expenditure on the part of the university and its employees, generates another 3,340 (FTEs) outside of the university in Dublin and beyond. The personal expenditure of the university’s students generated an additional 2,234 jobs in Ireland bringing to 8,914 (FTEs) the total number of jobs generated by UCD.
Examples of UCD’s Broader Impact
Additional case studies included in the report focus on highlighting the broader impact of UCD in terms of; alumni, commercialisation, culture, entrepreneurship, environment, enterprise engagement, heritage, internationalisation, research and sport.
Key numbers highlighted in the report Delivering Impact: The Economic, Cultural and Social Impact of University College Dublin.
- €1.3 billion total annual economic output generated by UCD and its students in Ireland
- €421 million UCD turnover or revenue equivalent to UCD direct output (2012/2013)
- €429 million UCD secondary output
- €448 million UCD student output
- Over €1 billion total value of UCD research grants since 2004
- €570.6 million UCD’s total Gross Value Added (GVA), equivalent to 0.35% of the Irish (2012) GDP
- €240.9 million total personal expenditure of UCD students in Ireland
- €97.5 million UCD’s total export earnings
- Over 30,000 students from over 120 countries study at UCD (2012/2013)
- 8,914 total employment (FTEs) generated by UCD
- 4,000 total number of UCD employees equivalent to 3,340 UCD direct (FTEs) employees
- 3,340 (FTEs) UCD secondary generated jobs
- 2,234 (FTEs) UCD student generated jobs.
Report is available to download via www.ucd.ie/innovation/newsevents/deliveringimpact/