Thursday, January 3, 2019
A new survey by the Commission on Independent Colleges and Universities (CICU) reports Hartwick College generated an estimated $123 million in total economic impact on the Mohawk Valley region in 2017. More than $49 million was a result of direct spending by the institution.
The survey results were part of a larger study by the CICU that examined the economic impact of its more than 100 member institutions statewide. Last year, these institutions added $88.8 billion to the state’s economy. Institutions in the Mohawk Valley region, including Hartwick, Hamilton College, Utica College and St. Elizabeth’s College of Nursing, contributed $683 million.
The CICU represents the public policy interests of private, not-for profit colleges and universities in New York State.
Also noted in the survey, Hartwick College accounted for $5.4 million in average annual construction spending, up $700,000 from the previous survey in 2015. In 2017, the College opened its new $7.1 million living-learning apartment community on campus, which houses 72 upper-class students.
“Hartwick College feels very privileged to be part of the community and be a major contributor to the economy of the region,” said Vice President for Finance Dr. Dorothy Lewis.
This statewide CICU survey looked at three main components in determining total economic impact:
Other statistics reported in the survey included the amount of New York State personal income tax revenue contributed by each institution; state and local sales tax revenue generated; and “spin off” jobs from research done at each institution.
At the time of the survey, Hartwick College boasted a total employment of 850 full- and part-time faculty and staff (direct and spillover).
“New York’s private colleges are an integral part of the state’s economy, serving as major employers, anchor tenants, and economic engines in every region of the state,” said Mary Beth Labate, CICU president. “This is particularly true upstate where our campuses create jobs and economic vibrancy in communities large and small. While private colleges in New York are focused on ensuring their students have the skills they will need to compete in the economy of the future, they are also strengthening New York’s economy today.”
To read the full report on the economic impact of private, not-for-profits colleges and universities on New York State, visit the CICU website.
Hartwick College is a private liberal arts and sciences college of 1,200 students, located in Oneonta, NY, in the northern foothills of the Catskill Mountains. Hartwick’s expansive curriculum emphasizes an experiential approach to the liberal arts. Through personalized teaching, collaborative research, a distinctive January Term, a wide range of internships, and vast study-abroad opportunities, Hartwick ensures that students are prepared for not just their first jobs, but for the world ahead. A Three-Year Bachelor’s Degree Program and strong financial aid and scholarship offerings keep a Hartwick education affordable.
Contact: David Lubell