Business leaders in Waterford have renewed a campaign to get Waterford Institute of Technology upgraded to university status. The establishment of a university of the south-east would, they argue, stimulate economic development and bring major social benefits to the region.
In a report published on Monday, Waterford Chamber of Commerce says a university, with outreach campuses and centres of excellence elsewhere in the south-east, is crucial to future regional growth. The report was drawn up by a task force chaired by the chamber's president, Mr Nick Donnelly, and draws on Swedish, Danish, Austrian and Finnish models to show how modern regional universities can operate effectively.
Waterford, it says, is the only designated "European gateway" in the National Spatial Strategy which does not have a university.
It cites statistics to show that disposable income per capita in the south-east is lower than in other gateway regions, Waterford city's labour force is underskilled in comparison with other gateways, and participation rates in third-level education in the region are below the national average.
It also points to HEA statistics showing that in this academic year 6,500 students from the south-east are studying at universities outside the region, representing "a major economic loss".
A university would help the region capture a share of research and development work and attract high value-added industry, it adds.
It would also stimulate intra-regional transport networks and provide the impetus for dynamic business leadership and enterprise in the region, the report argues. As well as a range of other economic spin-offs, it would also provide a focus for cultural activities.
Mr Donnelly says the chamber will lobby with other chambers of commerce in the region to get support for the plan.
Another member of the task force, Mr Frank O'Regan, European vice-president of Bausch & Lomb, which employs 1,800 people in Waterford, said the report would be drawn to the attention of all general election candidates in the constituency.
The report was welcomed by the director of Waterford Institute of Technology, Prof Kieran Byrne, who said he hoped it would stimulate debate.