The University of Lincoln has announced that new capital investment of £130m will transform its campus, providing world-class facilities to support education and growth across the region. The funding includes £48m investment from the European Investment Bank, through a long-term loan.
Professor Mary Stuart, Vice-Chancellor of the University of Lincoln, said: “In a region which is one of the worst in the UK for cold spots for access to higher education, the University of Lincoln is a beacon of learning. We are driving change for students and for industry and I am proud that the University is a chief component of the Midlands engine, delivering growth, investment and innovation.
“Funding from the Government through HEFCE, the Local Enterprise Partnership, Siemens and the European Investment Bank, has made this project possible. It will drive economic growth in the region and help address skills gaps in key industries.’
To symbolise the University’s role as a catalyst for growth and a beacon of learning in the region, a giant beacon was lit at the heart of campus with MARC (a robot from the University’s School of Computer Science) lighting the ceremonial fire (pictured below).
The University of Lincoln has already invested nearly £200m in its Brayford Pool Campus which was, less than 20 years ago, derelict railway sidings. This development has had a profound effect on the city. Lincoln is now one of the UK’s fastest growing cities with a thriving engineering sector.
The University now has an annual income of £130m, 14,000 students (from just 2,000 15 years ago), is estimated to contribute at least £300m to the regional economy each year and has created more than 3,000 jobs.
Jonathan Taylor, Vice President of the European Investment Bank, said: ‘We’re pleased to support the ambitious investment in the University of Lincoln campus that will benefit future generations of students, create jobs during construction and further enhance the university’s contribution to regional economic development.’
Images courtesy of University of Lincoln