BILLIONS of pounds worth of support will become available for business and charities in the South East, according to the University of Reading.
New research from the University suggests the higher education sector can help the UK economy recover post-pandemic, by making £2.4 billion worth of help available.
It said its ‘Cine Valley’ scheme with Shinfield Studios, which will bring Hollywood film productions and TV shows to Wokingham borough, is one example of support offered by the higher education sector.
The University of Reading estimates the project will create £500 million of investment while supporting 3,000 jobs for local residents.
Its research also suggests other higher education institutions in the South East will support businesses to create new jobs and train key workers, too.
According to the university, over the next five years, centres in the region will give 8,000 years’ worth of upskilling and training to businesses and charities, help nearly 2,000 new organisations form, and train 50,000 key workers.
Professor Robert van de Noort, vice-chancellor of the University of Reading, said: “I am proud of how our region’s universities and businesses are helping to bring new jobs and opportunities to our communities.
“Universities played a key role in responding to the threat of Covid-19, and now we are directly contributing to the recovery, helping to build back a better economy and society that benefits us all.”
He said the research suggests universities will be important as the country “gets back on its feet” post-pandemic.
The new report, published with Universities UK (UUK), forms part of #GettingResults, a new
campaign launched to promote how education may support economic recovery.
Professor Julia Buckingham CBE, president of UUK, added: “By working closely with their partners, including local government and employers, universities will play a vital role in the UK’s post-Covid recovery.
“Together, they can contribute significantly to future economic success and improve lives.
“Moving forward it is important that employers fully take advantage of universities’ support and develop productive relationships so the nation can bounce back stronger from the pandemic.”