Union Economic Impact Report

MAKING A DIFFERENCE IN OUR REGION

MAKING A DIFFERENCE IN OUR REGION

U

nion College is proud to be a major contributor to the region’s educational, cultural, athletic and economic spheres.

Union’s total economic impact to the region is more than $320 million per year, according to a study by the Commission on Independent Colleges and Universities.

But Union’s impact goes beyond economic.

Union is making a difference for business, providing educated leaders to the region’s top employers in fields such as technology, healthcare, education, banking and communications.

Union is making a difference in our community, offering a range of educational, cultural and athletic events, often at no charge.

Union is making a difference for our neighbors, with students and employees devoting thousands of hours each year working in community service projects and at local non-profit organizations.

Union is making a difference in higher education, offering a wide range of programs and opportunities with first-rate facilities that make it among the nation’s premier liberal arts colleges.

By any number of measures, Union is making a positive difference. In the pages that follow, we are pleased to present the various ways that Union College contributes to our community and beyond.

MAKING A DIFFERENCE

in our local economy A

recent study by the Commission on Independent Colleges and Universities (CICU) shows the significant role Union plays in driving the local and regional economy, with a total impact of more than $320 million each year. This includes direct spending, employment, construction and student and visitor spending.

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$32

Direct Spending

$126,100,000 Construction spending

$21,300,000 Student and visitor spending

$21,100,000 Taxes generated

$9,200,000 Includes revenue from New York state personal income tax and state and local sales tax.

Annual salary and benefits expenditure (2015-2016)

$71,743,226

Total impact on the region

22,500,000 3

MAKING A DIFFERENCE

for business U

nion educates a workforce that is vital to the state, regional and national economy. Each year, Union graduates more than 500 students in disciplines that run the gamut from the arts and humanities to engineering and science. About 40 percent of alumni stay in the region.

2,080 Direct and indirect jobs supported Source: CICU 2015 Economic Impact Study

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Employees living in Schenectady

421 Employees living in the Capital Region

398 Alumni living in the Capital Region

3,565 Alumni living in Schenectady

1,450

SELECT CAPITAL REGION ALUMNI EMPLOYERS: • AngioDynamics • AYCO Company, L.P. • CDPHP • GE • GLOBALFOUNDRIES • Golub Corporation (Price Chopper) • MVP Healthcare • Naval Nuclear Laboratory • New York State offices • Northwestern Mutual • Proctors/Capital Repertory Theatres • Siemens Power Technologies International • Uncommon Schools • WMHT AREA EMPLOYERS OFFERING INTERNSHIPS: 200 local (Capital Region) employers posted internship opportunities with us in 2016. They include: • • • • • • • •

Albany Molecular Research, Inc. (AMRI) Albany Times Union AYCO Company L.P. BCI Construction Inc. City of Schenectady Congressman Paul Tonko Dormitory Authority State of New York (DASNY) Downtown Schenectady Improvement Corporation (DSIC) • Ellis Medicine • Environment One Corporation • GE • GLOBALFOUNDRIES • Golub Corporation (Price Chopper) • Habitat for Humanity • Joan Nicole Prince Home • Museum of Innovation and Science (miSci) • New York State Department of Environmental Conservation (DEC) • New York State Office of the Attorney General • Office of New York State Lt. Governor Kathy Hochul • Pamal Broadcasting/Albany Broadcasting Company • Proctors and Capital Repertory Theatre • Siemens Power Technologies International

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MAKING A DIFFERENCE

in our community B

esides an enrollment of 2,200 students and a workforce of nearly 1,000, thousands visit Union College each year for offerings including admissions interviews, sports events, Homecoming and ReUnion, exhibits, the Union College Concert Series, conferences and the Union College Academy for Lifelong Learning. Student and visitor spending topped $21 million, according to a study by the Commission on Independent Colleges and Universities.

Student and visitor spending

$21,100,000 6

Source: CICU 2015 Economic Impact Study

Attendance at Homecoming and Family Weekend:

1,700 Attendance at ReUnion:

1,500 Admissions visitors in 2016-17:

11,460 2017 Enrollment in Union College Academy for Lifelong Learning:

610 Mandeville Gallery visitors (2016):

5,229 Union College Concert Series (2016): Attendance

7,447 $129,581 Total ticket sales

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MAKING A DIFFERENCE

for our neighbors C

ommunity service is central to the Union College mission. Union students participate in nearly 120 student-run clubs and organizations, many of which provide volunteers to the local community.

The Good Eats program, a collaboration in healthy cooking and eating with residents of Schenectady ARC, offers programming for individuals with intellectual and developmental disabilities.

At the Kenney Community Center, Union students participate in activities ranging from an after school homework program to a volunteer income tax preparation program that secures more than $4 million each year in refunds for local residents.

During the annual John Calvin Toll Day, 400 students serve over 75 local non-profit organizations.

In addition, Union’s athletic teams and sororities and fraternities donate thousands of hours and dollars to local non-profits each year.

Student-run clubs and organizations

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120

The Kelly Adirondack Center The Kelly Adirondack Center, located just a few miles from campus in Niskayuna, is a hub for the study of the history and environmental issues of the Adirondack region. With one of the largest collections of Adirondack materials outside of the park, the KAC hosts popular exhibits, lectures and concerts.

Sustainability Sustainability, a key element of the College’s Strategic Plan, is promoted by three presidential initiatives and a range of student and campus programs. President Stephen C. Ainlay in 2007 made Union a charter signatory of the Carbon Commitment.

Visitors to Kelly Adirondack Center (2016-2017):

2,200

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OTHER RECENT RANKINGS OF UNION COLLEGE:

No.

38

Best National Liberal Arts Colleges and Top 25 National Undergraduate Engineering Programs accredited by ABET U.S. News and World Report

No.

11

Liberal Arts Colleges Whose Graduates Earn the Most Forbes

No.

5

Top STEM schools for women USA Today College Guide 2017

MAKING A DIFFERENCE

in higher education U

nion was ranked 10th among national liberal arts colleges in PayScale’s 2017 College Return on Investment Report. The report listed Union among premier institutions as a “Best Value Liberal Arts College.” “Typically small, private and best known for concentrating on undergraduate studies, liberal arts colleges offer a wide range of degree programs and opportunities for students from all walks of life,” the report said.

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A Transformation: Science and Engineering The College has begun work on a renovation and expansion of its science and engineering facilities that will make Union one of the nation’s top undergraduate institutions for science and engineering.

The largest and most ambitious project in Union’s history, the $100 million interdisciplinary center will be built in phases over the next two years, with completion by the fall of 2019.

This will be a key facility for Union, allowing us to continue our leading role in higher education as a pioneer in connecting engineering, science and the liberal arts. The building will also be a nexus for the spirit of innovation that is transforming our region.

Just as we educate the young men and women who will contribute to our region, we will welcome the region’s innovation leaders to this new facility.

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MESSAGE FROM P R E S I D E N T S T E P H E N C . A I N L AY, P h . D .

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nion College traces its beginnings to the American Revolution, when a group of local citizens called for the establishment of a college that would educate a generation of leaders for the new republic.

Since its founding in 1795, the College has felt a responsibility to serve the community that supported its establishment and nurtured its growth.

That sense of responsibility—which also extends to the region, the state and the nation—takes many forms. Union educates thousands who enrich our communities. It serves as an economic engine for local business and government. It serves as a cultural center where members of the public can join the Union community for lectures by distinguished intellectuals and opinion leaders. Union sponsors exhibits by provocative artists and concerts by world renowned musicians. It joins college and community members in support of athletic teams. It provides hundreds of dedicated volunteers who commit thousands of hours to serving others.

While the preceding pages of this report do not provide an exhaustive list of the myriad ways that Union contributes to our community, it does give a sense for the power of the institution and its impact.

The arc of Union College continues much as it began, grateful for the support of the many who have nurtured it, and proud to have made a difference in our community, our region, our state and our nation.

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807 Union Street Schenectady, NY 12308 w w w. u n i o n . e d u 052017