New report highlights SUNY’s economic impact statewide and in the Hudson Valley

NEW PALTZ – How SUNY Matters: Economic Impacts of the State University of New York was released today by SUNY Chancellor Nancy Zimpher. According to this report SUNY and its associated economic activity supported 173,000 jobs across the state in 2008-09. SUNY’s economic impact on New York State was near $20 billion in 2008-09 and trending upward.

This report, commissioned by Chancellor Zimpher, was conducted jointly by the Nelson A. Rockefeller Institute of Government at the University at Albany and the University of Buffalo Regional Institute.

The SUNY-wide report amplifies the Economic Impact Statement (EIS) released by SUNY New Paltz in December 2010. The New Paltz report indicated that the College contributes $338 million to the Hudson Valley economy annually and generates 3,331 jobs in the region. Additionally the College is the third largest employer in Ulster County with 1,738 employees and a $67.5 million payroll, of which 92% is paid in the Hudson Valley, and 99% stays in New York State. In addition, the College employs almost 1,800 student workers. New Paltz employees contribute about 140,000 volunteer hours annually to organizations, agencies, and causes in the region. Although not included in the analysis, employers in the New Paltz region highlight the economic value of current students as a part-time labor force that benefits their companies.

Since the release of New Paltz’s EIS Interim President Christian has shared SUNY’s role as an economic engine at several presentations including meetings with Rotary and the Business Advisory Council of the New Paltz School of Business, on radio interviews with WAMC and on Hudson Valley Focus—a regional radio program broadcast on seven stations, and has shared summary results with area legislators. “As I have shared the results of New Platz’s economic impact analysis this year, it has become clear that many people and organizations understand and support the College’s contributions as an economic engine in the Hudson Valley,” Christian stated.

Christian continued, “The How SUNY Matters report is the latest example of how SUNY is working for the economic benefit of all New Yorkers in a transparent and accountable way. The Power of SUNY strategic plan for the system, the NYSUNY 2020 proposals for SUNY’s research centers, and the just-launched SUNY Report Card, are all part of the bigger goal to show New Yorkers that SUNY is ready and willing to create growth, innovation, and jobs for a thriving New York State – remembering that our core mission is educating students.”

This new report, the most comprehensive and detailed analysis ever undertaken of SUNY’s economic impact on New York State, fortifies the assertions over the last several months by Governor Cuomo and SUNY Chancellor Zimpher that SUNY is an economic driver for the state and a great asset to New Yorkers.

According to the SUNY System Strategic Plan 2010, 97% of all New Yorkers live within 20 miles of a SUNY campus and these campuses and their communities are the anchors of the state’s economic revitalization. “We’re excited about the role that New Paltz and other SUNY campuses play in the Hudson Valley economy and the region’s future,” Christian said.

More detailed information about the New Paltz EIS is available at www.newpaltz.edu/makinganimpact.

For more information on the How SUNY Matters report visit www.suny.edu.