Economic Development rules out setting up university
SETTING up a university in Guernsey has been ruled out by Economic Development, due to the large amount of capital expenditure it would require.
A working party to look at the idea was established by then-Economic Development president Charles Parkinson last term and a feasibility study was launched.
That aimed to determine whether developing an international university in Guernsey was feasible and to identify the potential costs and benefits of the project.
After careful consideration of the feasibility report, the current Economic Development committee members unanimously decided that there was no case to take the project forward.
‘The Committee for Economic Development has carefully considered the feasibility report into an international university of Guernsey,’ ED president Neil Inder said.
‘However, the committee has concluded that due to the considerable capital investment that would be required by the States of Guernsey to take this project forward, it is not possible to progress this project at the current time.’
Although the report identified potential economic benefits, the project would also require considerable capital investment from the States, with that risk falling to the taxpayer. A statement from Economic Development said that the committee was not in the business of 'gambling' with taxpayers’ money.
The project was not identified as a priority by the Assembly in the Government Work Plan.
The study identified a preferred model of a confederated institution. That would have undergraduate and postgraduate provision for 1,550 students, which would require £30m. capital investment.
The upfront capital costs of campus development would be in the region of £100m. A dispersed hub-and-spoke model, rather than a single campus, was suggested, as it would help with community integration, locating specific facilities where it makes most sense and be readily accessed.
The study suggested the university should play to the island’s strengths, possibly looking to offer courses in marine conservation, sustainable tourism, healthcare and wellbeing, international business and finance.
Overall the study found that the university could deliver £26.3m. of gross value added to the island within ten years, as well as providing significant benefits to on-island businesses via access to high-calibre students, graduates and researchers, and Guernsey’s residents though the access to improved on-island infrastructures and social, cultural and educational facilities.
But it noted that the university would require a long term and solid commitment by the States, if it was to succeed.
