Impact of Higher Education on WNY Region
Universities and colleges together form an economic powerhouse, pumping dollars directly into the economy and transferring cutting edge knowledge and talent to the private and public sectors. The Consortium is committed to strengthening collaboration among its network of colleges and institutions, as well as forging partnerships with regional private and public sectors. Its efforts will enhance the experience of students and improve local communities by contributing significantly to the knowledge economy of the Western New York region.
Economic Impact on the WNY Region:
- $4,600,000,000 economic impact on WNY economy with $3,000,000,000 of direct institutional spending and an economic impact double that of the Buffalo Medical Campus and 20 times larger than the not-for-profit arts and cultural institutions;
- 45,000 jobs supported by WNY higher education;
- 32,000 full- and part-time jobs in WNY higher education with $122,000,000 in local and state taxes; and
- 22,469 degrees conferred annually, with 7 in 100 residents being college students, a number greater than Washington, D.C., Philadelphia, Pittsburgh, Denver, Cleveland, Baltimore and Austin Texas.
An in-depth look at WNY Higher Education
There is a nationwide impetus to become more competitive in an economy fueled increasingly by ideas, knowledge and talent. In this growing knowledge economy, universities and colleges together form an economic powerhouse, pumping dollars directly into the economy and transferring cutting edge knowledge and talent to the private and public sectors.
An initiative of the Western New York Consortium of Higher Education, WNY College Connection, is designed to facilitate this effort of the Consortium. For research findings on Western New York higher education collaboration status, impact and potential, take a look at the following:
- Connecting Higher Education to the Region's Growing Industries, July 2011
- Regional Skills Assessment, February 2009
- The Impact of Higher Education in Western New York, November 2008