Economic impact of the Tay Cities Deal

Economic impact

University of Dundee

• The University of Dundee is one of the Tay Cities region’s major employers, with over 3000 staff
• 84% of our research being assessed as ‘world leading’ or ‘internationally excellent’ in the Research Excellence Framework 2021
• We are in the top 50 in the world in the 2020 edition of The Times Higher Education University Impact Rankings
• The University has a strong track record in creating spinouts, including AI drug discovery company Exscientia, one of Britain’s fastest growing pharmatech companies

Future impact

Biomedical

• 281 new jobs created by 2033 within the local life sciences sector, rising to 800 new jobs and over £190m benefit to the local economy by 2053
• Targeting the creation of 10 new high growth life sciences companies by 2034
• Delivering over 5,500 sqm of new and refurbished innovation and business incubation space
• Attract £119m investment in Tay Cities region spin-out companies and increase medical technologies R&D income to £26.3m by 2034/35

JustTech

• Develop a unique new model for the interface between science and law leading to enhanced investment and graduate employment
• Delivering a new dynamic research and innovation space in the heart of the city
• Targeting new job creation over a 10 year period in science and technology
• Development of a new skills pipeline for the region creating local job opportunities including for science and technology graduates
• Attracting inward investment and business into the Tay Cities Region as we define a new economic cluster for forensic science and justice