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Economic Impact Statement 2010

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Economic Impact Statement 2010

  1. 2. A Major Regional Enterprise <ul><li>Economic Activity: </li></ul><ul><li>$338 million (Hudson Valley) </li></ul><ul><li>$399 million (New York State) </li></ul><ul><li>Jobs: </li></ul><ul><li>3,331 annually (Hudson Valley) </li></ul><ul><li>3,981 annually (New York State) </li></ul>
  2. 3. A Major Regional Enterprise <ul><li>Economic Activity: </li></ul><ul><li>$338 million (Hudson Valley) </li></ul><ul><li>$399 million (New York State) </li></ul><ul><li>Jobs: </li></ul><ul><li>3,331 annually (Hudson Valley) </li></ul><ul><li>3,981 annually (New York State) </li></ul>~$67 million State Appropriation
  3. 4. Methodology <ul><li>Economic Models – US Department of Commerce </li></ul><ul><li>Analysis </li></ul><ul><ul><li>Office of Institutional Research and Planning </li></ul></ul><ul><ul><ul><li>Julie Chiarito </li></ul></ul></ul><ul><ul><ul><li>Lisa Ostrouch and Jackie Andrews </li></ul></ul></ul><ul><ul><li>Center for Research, Regional Education and Outreach </li></ul></ul><ul><ul><ul><li>kt Flusser </li></ul></ul></ul>
  4. 5. Methodology
  5. 6. Salary Impact and Employment <ul><li>3 rd -largest employer in Ulster County </li></ul><ul><li>1,738 people full and part time </li></ul><ul><li>1,794 student workers </li></ul><ul><li>$67.5 Million Payroll (College + ) </li></ul><ul><ul><li>92% paid in Hudson Valley </li></ul></ul><ul><ul><li>99% stays in New York State </li></ul></ul>Third-largest employer in Ulster County
  6. 7. Salary Impact and Employment <ul><li>3 rd -largest employer in Ulster County </li></ul><ul><li>1,738 people full and part time </li></ul><ul><li>1,794 student workers </li></ul><ul><li>$67.5 Million Payroll (College + ) </li></ul><ul><ul><li>92% paid in Hudson Valley </li></ul></ul><ul><ul><li>99% stays in New York State </li></ul></ul><ul><li>Indirect Impact – additional 1600 jobs </li></ul><ul><li>Total: 3,331 jobs in Hudson Valley, 3,981 in New York State </li></ul>Third-largest employer in Ulster County
  7. 8. <ul><li>$53.7 million on goods and services </li></ul><ul><li>(excluding wages) </li></ul><ul><li>Supplies and services </li></ul><ul><li>State University Construction Fund </li></ul><ul><ul><li>Construction </li></ul></ul><ul><ul><li>Large-scale maintenance and renovation </li></ul></ul>Direct College Spending
  8. 9. <ul><li>Goods and Services </li></ul><ul><li>32% ($17.4 million) paid in the Hudson Valley </li></ul><ul><li>67% ($35.8 million) paid in New York State </li></ul><ul><li>Non-college employment impact – 688 jobs </li></ul><ul><li>207 in the Hudson Valley </li></ul><ul><li>481 in New York State </li></ul>Direct College Spending
  9. 10. <ul><li>Examples of local vendors: </li></ul><ul><li>Central Hudson Gas & Electric -- $3.4 million </li></ul><ul><li>Village of New Paltz -- $300,000 </li></ul><ul><li>Southeastern New York Library Resources Council -- $230,000 </li></ul><ul><li>M & T Bank -- $203,000 </li></ul><ul><li>Keybank -- $310,000 </li></ul><ul><li>Panichi Holding Corp. (Refuse removal) -- $178,000 </li></ul>Direct College Spending
  10. 11. <ul><li>About one-half (48 percent or 1,710) of College’s vendors are in the Hudson Valley. </li></ul><ul><li>About 845 vendors are in Ulster County alone. </li></ul><ul><li>Ulster $3.8 million ($1.9 million in New Paltz) </li></ul><ul><li>Dutchess $5.5 million </li></ul><ul><li>Orange $1.9 million </li></ul><ul><li>Westchester $5.3 million </li></ul>Direct College Spending
  11. 12. <ul><li>$101.3 million in the Hudson Valley </li></ul><ul><li>Room </li></ul><ul><li>Board </li></ul><ul><li>Books and supplies </li></ul><ul><li>Personal expenses </li></ul><ul><li>Transportation </li></ul><ul><li>EXCLUDES tuition and fees ($35 M) </li></ul>Student Spending 7,916 students (Fall 2008)
  12. 13. <ul><li>Extensive visits to campus </li></ul><ul><li>22,589 (overnight visitors) </li></ul><ul><li>35,373 (overnights) </li></ul><ul><li>39,862 (day visitors) </li></ul><ul><li>Spring 2010 Student Visitor Survey (yearly extrapolated totals) </li></ul>Visitor Spending (visitors of students only)
  13. 14. Visitor Spending (visitors of students only) <ul><li>$144/person/day – average overnight visitor </li></ul><ul><li>$67.50/day – average day visitor </li></ul><ul><li>$3.8 million on lodging, meals, recreation, transportation, retail, and other goods and services </li></ul>
  14. 15. <ul><li>59,086 visitors attended events and venues </li></ul><ul><li>22,463 prospective students and families visiting Admissions </li></ul>Additional Visitors
  15. 16. <ul><li>51,500 + working-age New Paltz alumni age 65 and younger </li></ul><ul><li>generated $921.6 million in value-added earnings </li></ul><ul><li>(above what they would earn with just a high school diploma) </li></ul><ul><li>44% ($403.7 million) earned in the Hudson Valley region </li></ul><ul><li>71% ($654.3 million) in New York State </li></ul>Alumni Impact
  16. 17. <ul><li>In the past five years New Paltz has graduated: </li></ul><ul><li>• 1,367 MBAs, accountants, marketers, bankers, managers </li></ul><ul><li>• 1,450 art teachers, artists, musicians, theatre professionals </li></ul><ul><li>• 839 radio/TV production, public relations, media managers, and print journalists </li></ul><ul><li>• 437 engineers, scientists, mathematicians </li></ul><ul><li>• 354 speech therapists and audiologists </li></ul><ul><li>• and several thousand teachers, school principals, and </li></ul><ul><li>superintendents. </li></ul>Workforce Contributions
  17. 18. Volunteerism and Service as header Separate each photo but keep on this slide
  18. 19. Volunteerism and Service <ul><li>79% of the College’s personnel volunteered their time, 100 hours on average </li></ul><ul><li>140,000 hours/year (= 70 people volunteering full time year round!) </li></ul><ul><li>90% contributed food, clothes, or toys </li></ul><ul><li>64% volunteered their professional skills to individuals or groups </li></ul><ul><li>40% participated in walks or activities to support a charity </li></ul><ul><li>29% served on a company or nonprofit board </li></ul>
  19. 20. <ul><li>Part-time employment </li></ul><ul><li>Internships </li></ul><ul><li>Research collaborations </li></ul><ul><li>Guest speakers for conferences or classes </li></ul><ul><li>Mentorship </li></ul><ul><li>Advisory boards </li></ul><ul><li>Other support </li></ul>Community Support to the College
  20. 21. <ul><li>618 interns enrolled in fieldwork for college credits </li></ul>Internships
  21. 22. <ul><li>“ SUNY can be the key driver of New York’s economic revitalization and the improved life of its citizens.” </li></ul><ul><li>– SUNY Chancellor Nancy Zimpher’s Strategic Plan 2010 </li></ul><ul><li>www.suny.edu/powerofsuny </li></ul>
  22. 26. <ul><li>Thank you. </li></ul><ul><li>Questions? </li></ul><ul><li>For more information: </li></ul><ul><li>www.newpaltz.edu/makinganimpact </li></ul>

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