[Suffern, NY] December 5, 2024 – º¬Ðß²ÝÊÓƵ (º¬Ðß²ÝÊÓƵ) is proud to unveil the results of a comprehensive Economic Impact Report conducted by Lightcast. The report highlights º¬Ðß²ÝÊÓƵ’s significant contributions to the economic growth and well-being of Rockland County and beyond, showcasing its role as a cornerstone of opportunity and prosperity.
In fiscal year 2022–2023, º¬Ðß²ÝÊÓƵ added $397.8 million to the regional economy and supported 3,964 jobs across the Rockland Service Area, which includes Rockland, Orange, and Westchester Counties. The college’s impact stems from its operational spending, student expenditures, and the contributions of its alumni in the workforce.
Key Findings
- Operational Spending: º¬Ðß²ÝÊÓƵ contributed $68.8 million through employee wages and the purchase of goods and services, supporting 952 jobs in the region.
- Student Spending: In-region student spending added $5.2 million to the local economy, supporting 59 jobs.
- Alumni Impact: The greatest economic driver, º¬Ðß²ÝÊÓƵ alumni, generated $323.8 million in added income by increasing workforce productivity, equivalent to supporting 2,953 jobs.
Return on Investment
The report also highlights º¬Ðß²ÝÊÓƵ’s outstanding return on investment:
- For Students: Every dollar invested in their education yields $5.10 in lifetime earnings.
- For Taxpayers: º¬Ðß²ÝÊÓƵ returns $1.70 in tax revenue and public sector savings for every dollar of public funding.
- For Society: º¬Ðß²ÝÊÓƵ delivers $8.10 in added income and social savings for every dollar invested, reflecting broader societal benefits such as improved public health, reduced crime, and increased productivity.
Dr. Beth Coyle, Officer in Charge at º¬Ðß²ÝÊÓƵ, remarked on the findings:
“This report reaffirms the transformative role º¬Ðß²ÝÊÓƵ plays in Rockland County and beyond. Our contributions extend far beyond the classroom, fueling economic vitality, workforce readiness, and community well-being. We are proud to be a key partner in shaping a prosperous future for our region.”
Broader Impacts
º¬Ðß²ÝÊÓƵ’s contributions extend beyond economic metrics:
- The college supports a thriving local economy through partnerships with regional industries and initiatives in workforce innovation.
- Its alumni provide a steady supply of skilled professionals, enriching businesses and communities alike.
- º¬Ðß²ÝÊÓƵ enhances the quality of life for residents by fostering a more educated, healthier, and prosperous society.
The findings underscore º¬Ðß²ÝÊÓƵ’s dual mission: empowering students with the skills and opportunities for lifelong success while driving economic and social progress within the community. For more information, see the full .
º¬Ðß²ÝÊÓƵ º¬Ðß²ÝÊÓƵ
º¬Ðß²ÝÊÓƵ (º¬Ðß²ÝÊÓƵ), located in Suffern New York, provides purpose driven educational opportunities in a supportive, affordable, and accessible environment, empowering individuals to positively transform themselves and their communities. º¬Ðß²ÝÊÓƵ welcomes students from diverse backgrounds who appreciate small class sizes and personal attention from a distinguished, award-winning faculty that includes Fulbright scholars and SUNY Distinguished Professors. Many graduates go on to top universities to further their education on their own or through º¬Ðß²ÝÊÓƵ’s institutional collaborations.
º¬Ðß²ÝÊÓƵ is also proud to provide career training and professional development to adult learners looking to change careers or upgrade their skills through a variety of programs and educational opportunities including workforce training, certifications, and micro credentials. Many of the programs are developed with employers in the community in high demand industry areas to enable graduates to move into a new career upon graduation. More information can be found at sunyrockland.edu.
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