Economic Impact

[danefan]

Does anyone know if a study like the linked one below has every been done for UAlbany's economic impact on the Capital Region?

 

NEW PALTZ — SUNY New Paltz: hotbed of conservatism?That notion got a big laugh from an assemblage of college and business leaders gathered yesterday to hear the university's president, Steven Poskanzer, extol its economic impact on the mid-Hudson region.

 

The author of the remark was Lance Matteson, president of Ulster County Economic Development Agency. He was jokingly praising Poskanzer for providing what both men said were essentially conservative estimates of the college's economic impact.

 

To the layman's eye, Poskanzer's numbers seemed anything but conservative: When the college offered its first economic impact estimate, in 2004, it said the college contributed directly and indirectly $195.5 million to the seven-county mid-Hudson region's economy. This year's report, which was based on the 2005-06 fiscal year, was $274 million.

 

For just $1 million more, the money SUNY New Paltz contributed could match the New York Yankees' 10-year contract with Alex Rodriguez, should the unpredictable slugger ever consider a career in academia.

 

SUNY New Paltz is, in fact, Ulster County's third largest employer after the Kingston City school system and, at number one, Ulster County government.

 

Since the college isn't growing in size, it's able to retain a 13-to-one teacher-student ration, and to be one of the system's most selective outposts, accepting only 32 percent of its freshman year applications.

 

Poskanzer took a moment after the formal talk to discuss the importance of non-economic aspects of the college's contribution, which he called the institution's values:

 

"Those are the hardest to measure."

 

http://www.recordonline.com/apps/pbcs.dll/.../NEWS/801160349

[Dane96]

Last year it was 1.1 BILLION dollars.

[danefan]

So pretty much, without UA the Capital Region wouldn't really exist as we know it?

 

Maybe the TU should do a story on that instead of the slogan.

[uofalbany]

Dane96, do you have a link to a story or article with this 1.1 billion?

[Dane96]

It was in our Fiscal Impact (or State of the U of Albany) statement. I think you can find that on the website somewhere. In fact, those numbers are low because I think it was based on two years ago...and was released last year...pretty typical for an economic impact study. Also, was in the TU.

 

1.1 Billion.

 

1 Billion to Albany and the County.

100m to the rest of the State.

 

100m to the rest of the State should grow as research grows.

 

Danefan...I have sent NUMEROUS letters to the TU asking why, for a lack of a better phrase, they are on Siena's jock when if it weren't for us Albany would be another Flint, Michigan.

 

Of course I was nicer. But, like many, FACTS seemingly escape these men.

[Dane96]

I remember there being ANOTHER article about it...but here is the first study from 2004.

 

http://www.albany.edu/news/releases/2004/j...omic_impact.htm

[Dane96]

Check this important stat-- AND Bing ANY FLAGSHIP STATUS THAT DOESN'T COME THROUGH WASHINGTON AVE:

 

UAlbany’s state appropriation was $126.5 million; meaning that the University returned an economic impact of $8.85 for every $1 provided it by New Yorkers

 

NOW THAT IS WHAT I CALL...A RETURN ON AN INVESTMENT!

[uofalbany]

Sounds like Flagship Material to me !!!!!!!!!

 

Just talked to the CD Regional Planning Commission, and they don't have any estimates on what the EI would be now, and they aren't in the works of another study either.

 

I would assume it would have increased significantly over a 4 year period.