In a new economic report published today, The University of Manchester's far-reaching benefit to the region and to the UK was revealed - for every £1 invested in research activities, the University generates £5.95 in productivity benefits to the UK economy.
The University of Manchester's total economic impact on the UK economy in the 2022-23 academic year stood at £7.3 billion. In fact, The University's income alone stood at £1.3 billion in total, larger than that of Manchester United Football Club.
The new analysis by London Economics shows the scale of the University's positive effects as a major employer with one in every 25 jobs in Manchester being provided by the University. Indirectly, the institution also supports an additional 31,000 jobs outside of the University across the North West and the rest of the UK.
Professor Richard Jones, Vice-President for Regional Innovation and Civic Engagement said: "The University's ambition is to power a strong and inclusive economy, positioning Manchester as a central player on the global stage. The scale of what we have achieved currently is remarkable, but there is more to do. There is a huge opportunity now for the city-region of Greater Manchester and the University to work together, with other partners, to accelerate the kind of economic growth which benefits all in society."
Economic Contribution: In 2022-23, the University generated approximately £2.1 billion in economic impact within Greater Manchester, which is 56% of its total impact in the North West.
Civic and Employment Impact: In 2022-23, the University's activities supported 19,050 full-time equivalent (FTE) jobs in Greater Manchester, which is a significant portion of the total 31,310 FTE jobs supported across the UK.
Research and Knowledge Exchange: The University's research and knowledge exchange activities have a profound impact on the region. In 2022-23, these activities supported approximately 6,040 FTE jobs in Greater Manchester and generated a total economic impact of £3.0 billion across the UK.
Innovation and spin-out/start-up companies: The University has 343 spinout and start-up companies, with 175 headquartered in Greater Manchester.
The Impact Report was revealed today during an economy and regeneration committee meeting at Manchester City Council.
Professor John Holden, Associate Vice-President, Major Special Projects said: "The University of Manchester is one of the most significant innovation assets in the North of England, and a driver of growth and prosperity for our city-region and the UK, with global reach. This report highlights how investment in our research, teaching, cultural, and innovation activities - and the activities of our staff, students, alumni and partners - creates economic and societal wealth for communities across the UK."
The University is seeking to now supercharge its impact through innovation and commercialisation via the activities of Unit M, a new specialist function will transform how the University partners with start-ups, scale ups and industry to strengthen the region's innovation ecosystem.
The impact of students has also been highlighted, as the University seeks to develop its Manchester 2035 strategy to work with ambition and focus, to make Manchester an example of a civic-embedded and social responsibility-led institution. The University is currently ranked at 6 in the UK and 34 in the world in the QS World University Rankings 2025 and as the third largest higher education institution in the UK, teaching and learning activities provide substantial benefits to the UK economy.
Today's report reveals the impact of teaching and learning generated by the 2022-23 cohort of University of Manchester students stood at £1.6 billion, based on enhanced employment and earnings benefits to graduates and associated public income.
