UCC supports almost 1 in 13 jobs in Cork
UCC has this week published a report which revealed it that generates €3.2 million every day for the Irish economy.
The university said its report has been independently verified and shows how it supports almost 1 in every 13 jobs in Cork city and county and provides a return of €6 for every €1 of state investment.
Called Economic and Societal Impact of University College Cork, it was launched in UCC by Michael McGrath, European Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection and comes as UCC celebrates a historical milestone this year, having registered its first 115 students 175 years ago in 1849.
The report also found that UCC has taken a lead role nationally in widening participation and access to third level education, with 21% of undergraduate student intake through alternative access pathways. Meanwhile UCC’s riverside campus and its Glucksman Gallery is a significant draw for thousands of visitors every year. More than 54,000 people visited the Glucksman Gallery at UCC in 2023 and more than 3,500 visitors come to UCC annually to attend conferences, the report showed.
At present UCC has more than 24,000 students with the report showing that more than 7,500 students graduate annually from UCC, with 96.5% of UCC undergraduates employed or in further study nine months after gradation.
Prof. John O’Halloran, President of UCC, said: “UCC is an economic and cultural powerhouse that supports and grows our regional and national economies, while furthering insight, research and innovation. The report provides the evidence that the societal impact of UCC is as wide as the economic impact is deep. The university is a global gateway that attracts students from 126 countries and we have a long proud history of contributing talented graduates to Ireland’s national skills force.”
Michael McGrath, European Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, said: “As a UCC alumnus, I am very proud of the profoundly positive economic and social impact of the university. This report underlines the scale of that positive impact on all parts of the economy and on all aspects of our society. Through their daily work, those who work at UCC are helping to create opportunities for all they come in contact with and are contributing to a better future for us all.”
The financial year end 2022 was used as the reference year for the economic analysis.
Chairman of UCC’s Governing Authority, Sean O’Driscoll, said: “These findings prove conclusively that education, research and innovation is not a cost, it is an investment in our future.”