University of Gloucestershire New Business School

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University of Gloucestershire New Business School

University of Gloucestershire New Business School

New business school at University of Gloucestershire set to bring millions of pounds into Gloucester

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Written by: Gloucestershire Echo & Gloucester Citizen | Posted 12 February 2016 7:11

New business school at University of Gloucestershire set to bring millions of pounds into Gloucester
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The proposed redevelopment of Oxstalls campus at the University of Gloucestershire is set to bring millions of pounds into the city.

The University’s business school will be housed in a new building on the campus, jointly with the Growth Hub providing business services. The development will give a big economic boost to the City and the County, adding an estimated £77.5 million pounds gross value added by the 2020/21 academic year and supporting hundreds of jobs.

The development would see the business school relocated from Cheltenham, meaning that most of the financial benefit should be in Gloucester.

The new business school is expected to bring 2,000 more students to the City by 2021.The estimated worth of these students in terms of their spending power would be over £10 million by 2021.

As more students and staff would be based in Gloucester, the city would see the majority of this money.

Vice chancellor of the University of Gloucestershire, Stephen Marston, said: “The additional 2,000 students in the Business School in Gloucester would represent additional spending power of some £20m per year.

“On average, survey evidence suggests students spend some £10,000 per year on living costs, in addition to their expenditure on tuition fees.”

“That would benefit retailers, private landlords, social and entertainment venues and the whole economy across Gloucester.”

Mr Marston added: “One of the benefits of the scheme is that increasing student numbers would bring additional talented young people to the city. The growth in student numbers would lead to a growth in capable graduates seeking jobs in the City and the County,”