Analysis Shows Elmira College Generated Approximately $124,450,000 in Economic Activity to the Southern Tier Region in 2013

January 15 2015
Category: Campus Life

Elmira, New York – An economic analysis by the Center for Governmental Research (CGR) released today by the Commission on Independent Colleges and Universities (CICU) reveals that Elmira College generated an estimated total of $124,450,000 in economic activity in the Southern Tier region in 2013. The amount reflects direct institutional impact in the region of $110,650,000 and student and visitor impact of $13,800,000. The analysis shows a total economic impact of $74.3 billion from independent colleges and universities across New York State. It breaks down the total impact into ten regions in the state of New York that align directly with the Regional Economic Development Councils of New York State.

From the CICU press release:

“New York State continues to depend on its higher education institutions to educate our next generation of leaders, as well as contribute to our future economic growth,” said CICU president Laura L. Anglin. “Playing the role of anchor tenants with communities around the state, the Independent Sector educates hundreds of thousands of students while also providing jobs and significant fiscal impact for the communities where they are located. Throughout the state, our campuses are significant contributors to both the economy and community. They are customers for local and state vendors, especially when it comes to construction.”

“New York’s Independent Sector continues to be a major contributor to the New York State economy. This is particularly impressive in the current hyper-competitive higher education economy. These schools have maintained enrollment in the face of declining numbers of high school grads and boosted total research spending by 17% despite reductions in federal research investment,” said CGR’s chief research officer, Kent Gardner, who led the study.

Sources:

Regional economic impact brochures for the ten regions:
http://www.cicu.org/publications-research/search-results-pub/EI/all

Regional economic impact data pages for the state and ten regions on the CICU website:
http://www.cicu.org/economic-community-impact

About the Commission on Independent Colleges and Universities (CICU):

CICU is a statewide association representing the public policy interests of the chief executives of more than 100 independent colleges and universities in New York State. Founded in 1956 by a small group of private, not-for-profit college and university presidents, the Commission on Independent Colleges and Universities (CICU) now represents 100+ independent campuses across New York State. CICU is an educational corporation formed under the New York State Regents. Its mission is to develop consensus among a diverse membership and to advance higher education public policy. www.cicu.org