SU im­pact on lo­cal econ­omy mea­sured

Cape Argus - - METRO - Staff Re­porter

STEL­LEN­BOSCH Univer­sity’s (SU) im­pact on the town’s econ­omy is es­ti­mated to be more than R5 bil­lion for this year.

This is ac­cord­ing to a re­cent study by the Bureau for Eco­nomic Re­search (Ber) at SU. The study aimed to give cred­i­ble as­sess­ment and mea­sure­ment of the eco­nomic con­tri­bu­tion of the univer­sity to the econ­omy of the Stel­len­bosch mu­nic­i­pal area.

An eco­nomic im­pact as­sess­ment was done us­ing the univer­sity’s op­er­at­ing and cap­i­tal ex­pen­di­ture as well as spend­ing by staff and stu­dents as an es­ti­mate of the ini­tial im­pact of SU.

Anal­y­sis of spin-off com­pa­nies and busi­nesses and the role of SU as an an­chor in­sti­tu­tion as­sisted in giv­ing an in­di­ca­tion of the non-quan­tifi­able eco­nomic ben­e­fits of the in­sti­tu­tion.

SU’s Pro­fes­sor Jo­hann Kirsten, di­rec­tor of the Ber, said the study found that the eco­nomic im­pact of the univer­sity on out­put was es­ti­mated to be R5 112m in 2016, and R5 644m this year. He said the univer­sity sus­tained 13 406 jobs.

“The more than 13 000 jobs, or full-time job equiv­a­lents, in the re­gion sus­tained by the univer­sity is more than 17% of to­tal lo­cal em­ploy­ment or in­come re­ceived by the jobs.”

SU’s chief oper­a­tion of­fi­cer, Pro­fes­sor Stan du Plessis, said: “Not only is the univer­sity labour in­ten­sive in that it cre­ates more wealth than its rel­a­tive size, but it acts as a cat­a­lyst in lur­ing in­vestors, en­trepreneurs and busi­ness lead­ers alike while also ac­tively con­tribut­ing to Stel­len­bosch as a knowl­edge re­gion.” |

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