The University and the local economy

The University has been responsible for funding more than £250m on its capital programme since the initial burst of construction in 1966 to 1968. This has produced a wide range of community benefits including, more recently, the development of exceptional sports facilities in the new Surrey Sports Park. Additionally Surrey Research Park has some 140 companies on site which provides employment and modern University facilities which are accessible to the community. 

The University brings over 15,000 students to Guildford, spending, on average, £6000 per annum in the region - amounting to an overall figure of approximately £66m. In addition the University’s staff salaries are in the region of £105m (including costs) of which more than 75% goes to staff living in Surrey. Surrey Research Park occupiers employ some 2,750 staff.

Many staff and students are actively engaged in the community and local charities as well as acting as governors in schools and in the mainstream business life of the town. Most recently the University funded with the Borough Council an assessment of the economic status of the town. It is clear that this kind of work is important as it will help Guildford to understand the challenges and opportunities it faces and also help to define a prosperous future for the town. 

The issue facing all communities is their ability to continue to thrive from an economic perspective. Guildford is well placed to do this but with increasing competition from other regions in Europe and other parts of the world Guildford needs to continue to educate skilled people that are entrepreneurial and have the ability to begin high value businesses. The University produces over 1,200 graduates and post grads each year some of which remain in the area and enhance of this through their endeavours.