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Independent Higher Education a Booming Part of the State's Economy, a
New Study Shows
By Mid-Hudson
News Network, March 9, 2006
Excerpt:
New York’s independent colleges and universities…have increased
their contribution to the state economy by 44 percent over the last 10
years – including job growth of 38 percent, a new, independent study
shows. The study by the Rochester-based Center for Governmental Research
found job growth in private colleges and universities outpaced that of
public higher education at 13 percent, and the rest of the state’s
economy, at seven percent, between 1995 and 2005. The study was conducted
for the Commission on Independent Colleges and Universities…. The
CGR study estimated the total annual contribution to the economy of independent
colleges and universities at $41.7 billion, up from $29 billion in 1995.
That includes $21.1 billion in spending by the campuses and $20.7 billion
in spin-off spending both by businesses that provide goods and services
to the institutions and by college employees.
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