The Economic and Social Impact of IBERS
Each £1 of public funding invested in IBERS generated £12.18 of benefit for the UK economy.
An independent report on the economic impact of IBERS was carried out by BIGGAR Economics Limited in April 2014.
Varieties of oats developed by IBERS account for 65% of all oats used in the UK each year. Oats are used extensively for human and animal consumption and the market is growing at around 5% per year. It is estimated that IBERS’ contribution to the UK oats market generated more than £19 million gross value added (GVA) for the UK economy in 2012/13 and supported more than 800 jobs.
Each year graduates from IBERS take what they have learned while studying into the workplace, helping to improve the productivity of UK industry. This productivity benefit can be measured by the additional income earned by graduates because they have a degree. It was estimated that this productivity improvement contributed more than £23 million GVA to the UK economy in 2012/13.
IBERS has strong and long established relationships with a wide variety of industrial partners that enable it to play a fundamental role in supporting the productivity of the UK agri-food sector. In 2012/13 this commercialisation activity generated more than £14 million GVA for the UK economy and supported almost 250 jobs.
IBERS receives strategic research funding from the BBSRC to support long term mission driven research, and is a member of the National Institutes of Bioscience. IBERS also benefits from financial support from the Welsh Government, DEFRA and the European Union.