Advanced Search  |  Sitemap  |  Contact Us
  
 

FOLLOW US

Subscription required for full online access

Current subscribers to the Buffalo Law Journal, click here to create an account for full online access.

Not a subscriber? Click here to see subscription options. Questions about your online access? Call us at 716-541-1650.

Bizjournals Legal News

Editor's Note Fri, 25 May 2012 10:00:00 +0000

Google Legal News

Featured News - Current News - Archived News - News Categories

Local colleges a key part of the regional economy

Mon, Jan 31st 2011 12:00 am
By ALLISSA KLINE
akline@bizjournals.com | 716-541-1612

The 11 private colleges and universities in Western New York are significant contributors to the regional economy, according to a new report.

How large is the contribution? The study says $1.3 billion in 2009. That's up from $1.2 billion in 2007.

The report is the product of an economic analysis by the Center for Government Research released Jan. 26 by New York state's Commission on Independent Colleges and Universities.

In total, the state's independent higher-education institutions contributed $54.3 billion to the state's economy in 2009, the study says. That compares to $47.5 billion in 2007.

"This study reaffirms the critical role that independent colleges and universities play in the New York state economy," said researcher Kent Gardner, president of the Center for Government Research, in a release. "We know that the knowledge sector has become the focal point for 21st century innovation. What some may forget is that these campuses are significant private-sector employers, too. Educational institutions - particularly independent colleges and universities - also are significant contributors to their regional economies, attracting students (and their dollars) from other regions and states."

Specific 2009 data for the region's private colleges and universities:

• Enrollment: 25,906

• Degrees granted: 7,742

• Employment: 12,200

• Payroll: $456 million

• Institutional spending: $1.1 billion

• Student and visitor spending: $216 million

The Commission on Independent Colleges and Universities represents 113 private institutions. More information is available at cicu.org/publicationReports/.