Munster Technological University generated almost €1 billion for the Irish economy in a year.
MTU was founded on 1st January 2021 from a merger of IT Tralee and Cork Institute of Technology, making it the first university to be established in the southwest since 1845
MTU has published its economic and social impact study for 2022 and 2023.
This report outlines that during that period, MTU generate €979 million in economic impacts.
This includes an impact of €574 million across teaching and learning; €343m through university and student expenditure; €44m in research and development; and €18m in international students.
The report, which was carried out in collaboration with Indecon International Economic and Strategic Consultants, found that MTU has been responsible for the creation of more than 1,750 direct jobs or full-time equivalents.
Almost 85% of graduates found employment within three months, and the total lifetime earnings premium for 2022 graduates was found to be more than €351m.
The report also found that for every €1 invested in the New Frontiers programme, €5.63 was returned to the economy. The programme, launched in collaboration with Enterprise Ireland, is a development programme for early-stage entrepreneurs.
83% of those who completed the programme are still in business.
Commenting on the report, president of MTU, Professor Maggie Cusack said since MTU’s establishment it has transformed lives and provided world-class opportunities for study and employment across the southwest region.
She says they take immense pride in fostering graduate success, driving regional growth, and enhancing Ireland’s global competitiveness.
