Monash contributes almost $4 billion to the Victorian economy

Amanda Taylor and students

Monash directly generates $3.9 billion in economic activity in Victoria each year, according to new data presented by President and Vice-Chancellor Margaret Gardner AO at an event held at the Parliament of Victoria last week.

The University’s operating revenue is more than $2 billion and our total assets are valued at $3.75 billion.

In fact, if Monash were an ASX-listed company, it would rank in the top 100.

Education is Victoria’s largest export industry, generating $5.6 billion to the state every year. Monash contributes 25 per cent of this amount, or $1.5 billion annually.

The University now employs almost 14,000 staff and last year procured $638 million in external works, from food trucks to construction firms. The $333 million we invested in capital expenditure created 2,800 jobs.

The figures show we are one of the biggest drivers of new jobs outside of Melbourne’s CBD, with more than $1 billion in capital expenditure planned for the next five years, 97 per cent which is self-funded.

The event, held on Wednesday, August 17 was attended by MPs, including The Premier of Victoria, The Hon. Daniel Andrews MP, a variety of ministers, secretaries of Departments, and public sector leaders who are alumni and friends of the University, as well as senior Monash staff and faculty heads.