Economic Impact Report
As a significant local employer, driver of skills development and hub of innovation and enterprise, Falmouth University has a big economic impact on Cornwall.
As the only University headquartered in Cornwall, we're proud to act as an anchor institution, with a commitment to driving the region's economy at the heart of our mission.
We commissioned an independent report to assess the institution's contribution to Cornwall and the wider UK economy.
It found that Falmouth University:
- Currently contributes £100m in GVA to Cornwall's economy. That's equivalent to around £1 in every £109 of GVA produced in Cornwall
- Supports 2030 full time equivalent (FTE) jobs in the Cornish economy
- Has grown its income to £81m in 2018/19. That's quadrupled since 2004/5
- Produces 1% of all UK self-employed graduates
- Is estimated to make an economic contribution to Cornwall of £200 million in GVA and 4,260 jobs by 2030
An economic anchor
The University supports the local economy as a significant employer and through its supply chain spending. The majority of our staff and students live and work in the local area and their expenditure, with that of their visiting friends and family, supports a range of businesses and services.
A driver of future skills development
Falmouth University is focussed on developing skills for the future economy and responding directly to the economic development needs of Cornwall, particularly the growth opportunities in the creative economy. We're developing and retaining talent in the county, for the benefit of the local economy.
An enterprise and innovation hub
Research and innovation at Falmouth University aim to tackle the grand challenges of our age, through the application of creativity, digital technology, cross-disciplinary collaboration and entrepreneurial activity.
Where possible, the University seeks to innovate alongside industry in high growth markets, supporting the development of exciting start-ups and the creation of new jobs in Cornwall.