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Economic impact
Total economic contribution
USC's direct contribution to the regional economy is $269M a year. With multipliers, spending by USC and its staff, students and graduates generates $536M per annum in total economic impact.
Economic impact data is presented below as primary expenditure in the region, and with multiplier effects. Economic multipliers are properly applied in impact assessments to capture the ripple effect through the economy of core spending. For example, when the University spends money on a service in the local economy, the supplier spends some of that money on wages and materials, and the supplier’s employees spend some of that money on products and services, and so on.
Multipliers used in this assessment for staff, student and alumni spending (+.9 times) and for spending by USC itself (+1.5 times), are conservative and consistent with what other universities in Australia and internationally have used in similar studies.
Summary of USC’s contribution to the Sunshine Coast economy
|
2009 base |
2010 est. |
2010 with multipliers |
| USC spend |
$39.3M |
$42M |
$105M (1.5) |
| Staff spend |
$27.4M |
$34M |
$65M (0.9) |
| Student spend |
$89.2M |
$107M |
$203M (0.9) |
| Alumni spend |
$76.6M |
$86M |
$163M (0.9) |
| Total |
$232.5M |
$269M |
$536M |
USC income/expenditure
USC total income in 2010 is estimated at $117M, up from $110M in 2009, reflecting continuing growth of the University. This includes research income of $4.5M, up from $3.7M in 2009. Australian Government grants account for more than 70 percent of total income. Non-salary expenditure in the region is estimated at $42M.
Staff spending
USC will spend $62.5M on salaries (and related costs) in 2010, up from $55M in 2009. Staff take-home pay of $39.6M is adjusted for 86 percent of staff residing locally, leaving a figure of $34M for staff spending before multiplier.
The University employed almost 1,200 people in 2009, including full-time, part-time and short-term contracts throughout the year. Full-time equivalent staff is more than 600.
Student spending
USC’s 7,300 students will spend $107M in 2010 in the region, before multiplier. Expenditure by domestic students makes up 84 percent of student expenditure, with international students contributing the balance.
USC’s 875 international students contribute significantly to the Sunshine Coast economy. Apart from tuition fees of $14.7M a year to the University, their living expenditure in 2010 is estimated at $17M. The University’s international program promotes the region as a tourist and study destination, and friends and family who visit our international students contribute further to the regional economy.
Alumni spending
By 2010, USC had produced more than 8,000 graduates. The estimated expenditure of those graduates retained in the region was $86M, before multiplier.
Innovation Centre
USC’s Innovation Centre supported the start up and growth of 12 companies, creating around 66 jobs in 2009. The client companies have a high survival rate, and companies raised $770,000 in industry funding and $500,000 through grants funding. About 30 USC students worked in the Centre as interns or employees during 2009.
Since its establishment, the Innovation Centre has generated about 350 jobs in the region and supported 55 start-ups.
Hospital and urban village
The University has played a key role in bringing together stakeholders for planning of the Sunshine Coast University Hospital at Kawana, and for the Sippy Downs Township.
Both of these developments will have a huge impact on job creation in the region. The Sippy Downs urban village is tipped to create 8,000 jobs by 2025.
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