The North East’s five universities are contributing more than £2bn to the region’s economy, according to a new report from the institutions.
Durham, Newcastle, Northumbria, Sunderland and Teesside universities have launched the report on their regional impact, which says that the organisations support more than 34,000 jobs between them and contribute £2.2bn to the North East economy.
The report – Innovating Together: Universities in the North East (InTUNE) – highlights the universities’ contribution to innovation and business growth in the region, and their potential role in delivering activities which contribute to the Government’s Levelling Up agenda. The universities also supported more than 700 graduate startups and 59 spinout companies in the period covered by the report, with those companies having a combined turnover of nearly £300m and workforces totalling just over 4,000 people.
