This report presents the results of a socio-economic impact assessment of Dundalk Institute of Technology (DkIT) undertaken by BiGGAR Economics in
Autumn 2012. The study considered the annual economic impact of DkIT, based on the year for which the latest data was available1.
The study found that DkIT delivered a substantial annual economic return for the Irish economy, in return for the state funding received. In 2010/11, DkIT received
€37.3 million in state funding and generated €281.5 million in Gross Value Added (GVA) for the economy of the Republic of Ireland and supported 2,110 jobs.
This means that for every €1 DkIT received in state funding, it generated
€7.54 in economic impact.
DkIT also delivers a substantial quantifiable economic impact at the local, regional and cross border level.
This scale of impact makes DkIT comparable to organisations such as Bus Eireann, who employ more than 2,600 people or Fyffes, who employ almost 1,890. It also means that DkIT supports significantly more employment than other regional employers such as Heinz (which employs around 280 people), Xerox (which employs around 650 people) or Vodafone (which employs around 1,200).
DkIT delivered a wide range of social impacts and economic impacts that contribute to social cohesion, sustainability and long-term competitiveness.