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2024
UCC generates €3.2m for the Irish economy every day
A new study of the eocnomic and societal impact of UCC showed that the system produced €1.18 billion in the 2022 financial year, returning €6 for every €1 of state investment, and supporting 1 in every 13 jobs in Cork city and county.
Launched by Michael McGrath, European Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, this report on the Economic and Societal Impact of UCC provides an in-depth picture of the economic and social impact of UCC.
UCC celebrates a historical milestone thgis year, having registered its first 115 students 175 years ago. Presently, UCC has over 25,000 students and this new report outlines the significant economic and social contributions of the activities, students, staff and graduates of the University.
Over 7,500 students graduate annually from UCC, of whom 96.5% join the workforce or embark on further study within 9 months of grsaduation. UCC has taken a lead role nationally in widening partticipation and access to third level education, with 21% of undergraduate student intake through alternative access pathways.
UCC attracted €113 million in funding for research in the 2022 financial year, with 9.2% of this investment coming from industry partners, making it the most successful university in for Ireland industry funding. In 2023, four spinout companies were launched, 45 inventions disclosed and 15 patents filed by UCC researchers, shaping a sustainable future for everyone.
UCC’s riverside campus and its Glucksman Gallery is a significant draw for thousands of visitors every year. Over 54,000 people visited the Glucksman Gallery at UCC in 2023, it is recognised as the fourth of 147 places to visit in Cork by TripAdvisor, and attracts over 3,500 visitors annually to attend conferences.
As a UCC alumnus, I am very proud of the profoundly positive economic and social impact of the University. This report underlines the scale of that positive impact on all parts of the economy and on all aspects of our society. Through their daily work, those who work at UCC are helping to create opportunities for all they come in contact with and are contributing to a better future for us all. UCC is a vital driver of economic growth and innovation in Ireland, and its reach now extends far beyond our shores. This report underscores its remarkable contributions to job creation, research, and education, strengthening both our region and nation, and enhancing our international reputation. I commend UCC for its outstanding contributions and its enduring legacy in Ireland’s economy, society and culture, and I know this will continue to go from strength to strength.
Michael McGrath, European Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection