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9 December 2010
Deakin University generates more than $100 million for the south-west economy each year, creates about 260 jobs and is developing graduates ready-made for the local workforce.
A study into the economic impact of Deakin University by the Western Research Institute has shown that more than 50 per cent of graduates from the Warrnambool Campus find jobs in the Barwon South West region.
The Campus is responsible for nearly 2.5 per cent of the region's Gross Regional Product (GRP) and 2 per cent of household income.
Pro Vice-Chancellor (Rural and Regional) Professor Sue Kilpatrick said Deakin played a major role in the economic and social wellbeing of the region.
"The results of this study are a clear illustration that Deakin is a prime generator of income and jobs in the Warrnambool region," she said.
The study found the operation of the Warrnambool Campus in 2009 accounted for about $52 million in output, $36 million in GRP and $16 million in household income for the Warrnambool and Moyne local government areas.
When the expenditure of students is added and the flow-on effects taken into account those figures increase to $62 million in output, 42 million in GRP and $18 million in household income.
The Campus and its students contribute 261 equivalent full-time jobs to the economy of Warrnambool and Moyne.
The study also revealed that 40 per cent of graduates from the Campus secure jobs in the Warrnambool and Moyne areas, six per cent in the Geelong region and a further 11 per cent found positions elsewhere in the Barwon South-West region.
Twenty one per cent of graduates found their first jobs in Melbourne, 12 per cent in other regional areas, five per cent in other metropolitan regions and five per cent overseas.
Professor Kilpatrick said this reflected Deakin's close links with local communities.
"The Great South Coast regional strategic plan highlights that filling skill vacancies will be a challenge in the future. It is good news that our courses are helping to address this issue."
Professor Kilpatrick added that without a Deakin University Campus in Warrnambool many local students would have left the area to attend university elsewhere.
"That would result in a net loss to the economy," she added.
Deakin University's combined operations at the Geelong and Warrnambool Campuses in 2009 are estimated to have accounted for about $475.5 million in output, $288 million in GRP, more than 2,739 full time equivalent direct and indirect jobs, and $197.4 million in household income in the Barwon and Western District regions.
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