SUNY’s Economic Impact on
NYS Near $20 Billion in 2008-09; Even Greater In Years to Come
Study Provides Most
Comprehensive, Detailed Analysis of SUNY’s Economic Impact in State History
Albany – State University of New York Chancellor Nancy L. Zimpher today heralded the findings of an economic impact
study that points to SUNY as a key contributor to New York State’s economic future.
The report, How
SUNY Matters: Economic Impacts of the State University of New York, is the most
comprehensive and detailed analysis ever undertaken of the economic impact SUNY
has on New York State.
“This is the Power of SUNY,”
said Chancellor Zimpher. “The economic impact generated by the 64 campuses of
SUNY is massive. The system’s capacity to innovate and help new businesses
succeed, and to create jobs and populate the workforce with skilled, educated
New Yorkers, is unmatched. This much is clear—with SUNY leading the charge, the
economic revitalization of New York is certain and the future is bright.”
According to the report, which
online, the SUNY system had a minimum
economic impact of $19.8 billion in 2008-09.
Importantly, the study also
found that the system is making an even greater contribution to New York’s
future economy. SUNY expands the state’s capacity to grow and produce jobs via
three primary contributions, according to the report: educating a competitive
workforce; helping employers adopt new technologies and ideas; and rapidly
growing the capacity of SUNY research campuses to develop new technologies and
to transfer research into commercial use.
The report, commissioned by Chancellor Zimpher and
conducted jointly by the Nelson A. Rockefeller Institute of Government at the
University at Albany and the University at Buffalo Regional Institute, is based on a series
of surveys and extensive field study work conducted on all SUNY campuses with
respect to economic development activities, as well as detailed statistical and
financial data collection from each campus.
The report finds that, “With
the right policies and investments in place, the system can fulfill its
enormous potential to lead the revitalization of New York State’s economy.
Building on innovations and their effects in successive steps can produce very strong
economic impacts. Opportunities for innovation, entrepreneurship, and economic
leadership are widespread in the SUNY system—and can be exploited more fully.”
SUNY will use the report as a
benchmark of the system’s current economic impact, enabling SUNY to target its
efforts and enhance its economic contribution in the years ahead.
role of higher education in economic development is the overarching theme of
SUNY's strategic plan, The Power
of SUNY, which was launched in April 2010 and provides a roadmap for
the system's development over the next decade.
Zimpher is also partnering with Governor Andrew M. Cuomo to make SUNY an
economic driver for New York State. Earlier this year, Governor Cuomo called
for the creation of regional economic development councils across the state and
asked SUNY to provide leadership for each of them.
Chancellor Zimpher, the governor announced NYSUNY 2020,
which will make SUNY a catalyst for job growth throughout the state, strengthen
the academic programs at its four University Centers, and demonstrate that New
York is open for business.
SUNY launched the SUNY
Report Card, an exclusive evaluation tool that will publicly track the
university's systemwide work as an educator, job creator, community partner,
and generator of boundary-breaking research. With the release of its report
card, SUNY took an unprecedented step to measure the university system's
performance against New York's greatest social and economic needs, including
the alignment of SUNY's research capacity to statewide job growth and the
state's ability to capture a greater share of the global green energy market,
among other measures.
is embedded in every community in New York State—93 percent of New Yorkers live
within 15 miles of a SUNY campus, and virtually 100 percent live within 30
miles. In many communities, SUNY is also the region's largest employer.
About the State University of New York
The State University of New
York is the largest comprehensive university system in the United States, educating more than 467,000 students in more than 7,500 degree and
certificate programs on 64 campuses with nearly 3 million alumni around the
globe. To learn more about how SUNY creates opportunity, visit www.suny.edu