BOLTON Institute, which is on the verge of attaining university status, has welcomed a report which says higher education has a major impact on the UK economy.
The report, The Impact of Universities and Colleges on the UK Economy, reveals that investment in higher education boosts industry and generates wealth and jobs across all sectors.
The report was compiled by the Committee of Vice-Chancellors and Principals of the Universities of the UK. It says the higher education sector spends a massive £12.58 billion on goods and services produced in the UK and provides jobs directly or indirectly for more than 3pc of the UK workforce.
Bolton Institute, the borough's only local representative establishment in the university sector, caters for 8,000 full and part-time students.
It awards undergraduate degrees and recently obtained recognition to award research degrees.
A spokesman said: "With an annual turnover at more than £25 million a year, the Institute is a major contributor to the local economy as an employer and customer for locally produced goods and services."
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