President’s | letter
Dear Nazareth friends,
A “ Nazareth College has an annual economic impact of $175 million dollars, or approximately $58,000 per student.”
s you well know, in the past few years, there has been increased discussion about ways to stimulate the economy in upstate New York. An essential part of the discussion should be a focus on higher education, which is a major economic driver in this region. As large companies have downsized in the recent past, the Rochester region has come to recognize the significant economic contributions made by the colleges and universities. Indeed, the higher education industry now may be the region’s principal economic engine. Within an hour or so of downtown Rochester, there are 19 colleges and universities that have more than 80,000 students. The Council of Independent Colleges and Universities, which is comprised of the private schools in New York, recently completed a study of the economic impact of the private colleges and universities in the state. It found that the private institutions in the Rochester area (including the UR Medical Center) have an annual economic impact of $4.1 billion per year. The University of Rochester, RIT, St. John Fisher, Roberts Wesleyan, and Nazareth employ 38,500 people and have an annual payroll of $1.5 billion. It is estimated, for example, that Nazareth College has an annual economic impact of $175 million dollars, or approximately $58,000 per student. This includes the amount we spend directly as well as our construction spending and the indirect spillover spending (e.g., students renting apartments, shopping in stores, and eating in restaurants; parents visiting and staying in hotels; patrons at the Arts Center; sports teams coming from other areas; etc.). The colleges also continue to grow and bring to this region faculty and staff, who make the Rochester area their home; 61 percent of Nazareth’s alumni stay in Rochester, and 78 percent stay in New York State. Unlike other businesses, we obviously cannot relocate and we are permanently part of the community. Finally, Nazareth does not have the “brain drain” experienced by other schools. We attract students from throughout New York and elsewhere but a large majority stay in this area after graduation. They find jobs through their internships, field placements, and student teaching. It is well known that the colleges contribute to the academic and cultural well being of the community. It is equally important that people understand that we contribute to the economic well being as well. Any economic plan for this region must include higher education, and I have urged our local leaders to market Rochester as a college town. Sincerely,
Daan Braveman Read more from the perspective of President Braveman on his blog at http://naz.typepad.com/braveman.
4 CONNECTIONS | Spring 2012
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