The economic and societal impact of University College Cork

Hutchinson , Mark; Hogan, David

The economic and societal impact of University College Cork

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UCCEconomicSocietalImpactReport2018.pdf(17.32 MB)

Published Version

Date

2018-05

Authors

Hutchinson , Mark

Hogan, David

Publisher

University College Cork

Abstract

This study provides an in-depth analysis of University College Cork’s impact across five key areas, as well as considering the context in which UCC operates. The report examines the following: UCC’s economic impact at a national and regional level, through the expenditure of UCC itself, the spending of those employed by UCC, those who study there, those who have graduated in the past year, as well as those who visit UCC on an annual basis. The report evaluates the national taxation impact, the employment impact in Cork and the South-West Region, both as a result of direct and indirect jobs, the impact of current and future capital projects, and the impact of visitors and exports. We note that the impact of international students is particularly important from an expenditure and job creation perspective. UCC’s workforce development impact in the region and beyond, including the ability to graduate high calibre ‘world-ready’ and ‘work-ready’ individuals. We look at the investment into, and the output from, a UCC graduate’s education, in financial terms. We examine the subsequent effect on the salary of UCC graduates in the first year after graduation vis-a-vis non-graduates, and what this might mean financially over the lifetime of a professional career. UCC has a significant business impact and contribution to the wider Irish and international economy. This stems from the University’s leading position in relation to research and development activities, its role in attracting foreign direct investment and indigenous investment, as well as UCC’s impact on innovation and entrepreneurship. This section concludes by examining UCC’s pivotal contribution to local business in Cork and the South-West region. UCC’s impact in relation to creation and discovery. UCC is clearly driving growth nationally, particularly for the South-West region, through its significant research and development capabilities. It has a crucial role to play in knowledge creation and discovery, technology and knowledge transfer as well as a key role in commercialising that knowledge. Furthermore, UCC’s role in creation and discovery has a real impact on society and the community. Work emanating from UCC impacts the lives of millions of people around the globe. UCC’s impact on our society and in our community. UCC’s societal impact is as wide as its financial impact is deep. We examine UCC’s impact on social responsibility and the promotion of responsible processes, the physical environment impact, socio-cultural impact and the leading role UCC has taken with regard to widening participation in higher education. We look at the impact of consistent engagement with the community, cultural and sporting impacts, the impact on the health of our citizens and conclude by looking at UCC from an environmental and sustainability impact perspective.

Keywords

University College Cork , Economic impact , Business impact , Workforce development , Creation and discovery , Society , Community

Citation

Hutchinson, M. and Hogan, D. (2018) The economic and societal impact of University College Cork. Cork: University College Cork, pp. 1-129. Available at: https://www.ucc.ie/en/media/aboutucc/presidentx27soffice2024/plansandreports/uccreportspdfs/UCCEconomicSocietalImpactReport2018.pdf (Accessed: 26 February 2025)