A study has highlighted Middlesex University as a major employer and significant contributor to Barnet’s economy.
The study, undertaken by Middlesex University’s specialist Centre for Enterprise and Economic Development Research, has been released during ‘Universities Week’, a national awareness event. It explores the economic impact which the University has on the local area. It shows that this amounted to a boost of close to £200m to the Borough, through spending by staff and students in the local economy, contributions to the local knowledge base and goods and services purchased from businesses in the area. It also highlighted the positive knock-on effect this has on employment in local businesses.
£23m was spent on goods and services by the University during the period surveyed; staff and students spent almost £45m in the Borough in the same period. The University itself received grants of £59m from national funding bodies and income of £74m from student tuition fees.
The University is also a major employer in the Borough, with 1300 staff based at its flagship Hendon campus. 13,500 students study at the Hendon campus, too, spending an average of £96 per week in the local area. Student spend is significant in the food, entertainment and consumer goods sectors - £6m, £4m and £3.5m per year respectively. The highest impact is felt in the property sector, where private rentals by students account for almost £15m per year. Students and These figures will increase in 2011 with the opening at Hendon of the University’s new centre for Art, Design and Media, a project in which the University has invested £80m.
As well as having a major financial impact on the local economy, Middlesex University shares its knowledge and expertise with the wider community, through working with local businesses, training, consultancy and volunteer work. In ‘Universities Week’, which takes place between 14-19 June, universities across the country will focus on their achievements and their work with their local community. During this week, Middlesex University’s website will highlight some of Middlesex’s achievements in teaching, innovation and partnership work with local organisations. For more details see www.mdx.ac.uk.
Middlesex staff and students make a strong contribution to their local communities in both Barnet and Enfield - through student volunteering, student nurse, social work and teaching placements. Recent locally-based research projects have included research into the social needs of elderly people (undertaken with Age Concern Barnet) and into attitudes amongst young Muslims in the borough (undertaken with London Borough of Barnet). Staff in the University’s Centre for Environmental and Safety Management for Business, also offer a free advice and training service for small businesses, helping them to improve their energy efficiency, profitability and comply with new recycling legislation.
Through developing the Hendon campus, Middlesex University has been able to develop and strengthen its links with the local community. Public lectures and events take place at the Hendon campus - the local community can also make use of extensive well-maintained sports facilities, and the ‘Rickett Quadrangle’, the largest indoor space in Barnet, which has proved to be a stunning venue for many local events. The new Art, Design and Media Building will also provide impressive performance and exhibition space where links between the community and the creative arts can continue to be developed.