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Otago Polytechnic worth $255 million to Otago region in 2015
Otago Polytechnic worth $255 million to Otago region in 2015
Otago Polytechnic’s latest Economic Impact Report reveals a total expenditure of $255 million ($254,950,000) in the Otago region in 2015, with its global economic impact in the same year valued at $289.8 million.
In Dunedin, the $135 million of total value added makes up around 2.3% of the city’s $5.8 billion gross domestic product.
Otago Polytechnic Chief Executive Phil Ker comments that the report illustrates the institute’s significance to the Otago region. “As one of Dunedin’s larger employers, Otago Polytechnic’s value to the Otago economy is considerable,” he says. “Our enrolments continue to grow in contrast to a downward trend in the sector generally, which is very positive for the region.”
In 2015, Otago Polytechnic had 4333 EFTS (more than 7200 students by headcount) – an increase of 1.5% on 2014. The Polytechnic continues to experience strong domestic demand for programmes in health and wellness, community, trades, creative industries and information technology.
Approximately 57% of Otago Polytechnic students come from outside Otago: 32% from the North Island; 14% from overseas; and the remaining 11% from elsewhere in the South The Polytechnic employed 674 staff in 2015 (504 full-time equivalents). In addition, 2454 FTE jobs were supported throughout the national economy as a result of direct Otago Polytechnic expenditure, 2129 of them in Dunedin.
“We have a direct influence on local economic development, but the wider flow-on effects are even greater and extend to many sectors of the local and national economies,” says Mr Ker. “Our commitment to providing career-focused, experiential learning and further strengthening links with industry and community organisations, will ensure continued benefits to Otago and New Zealand.”
Key data from the 2015 Economic Impact Report:
Total expenditure arising from all campuses (Dunedin, Cromwell and Auckland): $289.8 million
Total expenditure arising from Dunedin campus: $241.9 million
Total value added to Dunedin economy: $135 million
Total value added to Dunedin economy from 2011 to 2015: $529.8 million
Total expenditure arising from Central Otago campus: 13.1 million
Total value added to Central Otago economy: $7.2 million
Number of FTE jobs supported by direct Otago Polytechnic expenditure: 2454
ends
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