DEAKIN University’s Warrnambool campus is worth $53 million a year to the region’s economy plus another $6m to the rest of the nation, according to a commissioned economics report.
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On top of that, $12.9m was outlaid on capital expenditure at the Sherwood Park campus which was valued at $42.4m.
Using wider calculations to measure all market transactions generated by the campus and its students, gross output was $81m for the local region and $94m for the nation.
The report by Deloitte Access Economics for 2013 showed the campus employed 185 people with a $23.4m wages bill. Its operations created the equivalent of 384 full-time jobs.
Direct contribution to the gross regional product of Warrnambool City and Moyne Shire was $32m while indirect was $7m.
Operating revenue totalled $42.4m and expenses $33.8m leaving a gross operating surplus of $8.52m.
Enrolments decreased slightly to 1166 from 1258 in 2012 and 1248 in 2011. A total of 815 students were from the Warrnambool region with the balance from other areas.
Report figures showed total student expenditure of $21.8m which represented $14m for the gross regional product.
The campus output represents 2.5 per cent of the total gross regional product.
Figures indicate an increasing economic position for the campus when comparing a 2010 report by the Western Research Institute which showed gross regional output was $62m, 261 full-time equivalent jobs and 1.9 per cent of gross regional product.
Head of campus Professor Gerry Quinn said it was unusual for a city the size of Warrnambool to have such a strong university campus.
When asked if there were any lingering doubts about the long-term future he said: “Deakin has an absolute commitment to run education and research”.
“The Warrnambool campus is critical to that,” he said.
He said Deakin has been part of the region since 1990 when it merged with Warrnambool Institute of Advanced Education to become one of the university’s four campuses.
Vice-chancellor Professor Jane den Hollander also confirmed the university’s commitment to remaining in Warrnambool.
“Ongoing operations of the Warrnambool campus, student expenditure and our capital investments all contribute significantly to local economic activity,” she said.
The report calculates the campus as contributing $10.4m in intermediate expenditure including advertising, marketing, contributions to learning institutions and equipment costs. This includes $420,000 in rates and energy costs.
