Ceredigion’s two universities create more than 3,000 jobs and contribute £135m to the county’s economy, according to a new report.

A new independent report commissioned by Universities Wales illustrated the value of the sector to Wales, which it says account for a £5 billion boost to the economy and one in 20 jobs across the country.

Aberystwyth University, and the Lampeter campus of the University of Wales Trinity Saint David are contributing £135m to the county’s economy through a combination of direct spending and purchases from staff and students alike, the report found.

Across Wales as a whole, Ceredigion universities generate £241.67 million of value for the country’s economy.

The two universities have also created 3,303 jobs in Ceredigion either directly within the university or reliant upon it.

Other benefits of the sector included in the report’s findings are “life-changing research” and the “education of the workforce of tomorrow across both the private and public sectors.”

It has been estimated than 10,000 nurses, 4,000 medical specialists and 8,000 teachers will train at Welsh universities during the next five years, with Aberystwyth University playing a key role in this with the launch of nursing qualifications next year.

Prof Elizabeth Treasure, Vice Chancellor of Aberystwyth University and Chair of Universities Wales, said: “This report clearly illustrates what Aberystwyth University contributes to Ceredigion and the wider Welsh economy.

“From providing access to education and skills to working with business on cutting edge research and innovation, the work that we and the wider university sector do is closely intertwined with the people and places of Wales.

“What is most notable about the findings of this report is not just the immediate economic impact of the activities we carry out, but how we bring benefits right across local communities and, indeed, across Wales.

Economy Minister Vaughan Gething MS said the report “makes clear the strengths of Wales’ higher education institutions and their vital contribution to Welsh society and to our economy.”

Universities “are a vital part of the skills pipeline, educating and training our people for the jobs of the future, and offering opportunities for lifelong skills development,” the Economy Minister added.