chesteryes.com ::

News July 19, 2010 Widener University's Economic Impact in Pennyslvania Equals $238 Million The Chester City Blog Chester, Pa. Widener University, with campuses in Chester, Exton and Harrisburg in Pennsylvania, contributed nearly $238 million to the state’s economy in 2009, according to an economic impact study conducted by the Association of Independent Colleges and Universities of Pennsylvania. Overall, Pennsylvania’s 94 independent colleges and universities infused $16.1 billion into the Pennsylvania economy last year, including 8.7 billion in the greater Philadelphia region and $374 million in the Harrisburg region, the study found. Widener University President James T. Harris III said that the economic impact report, issued every five years by AICUP, shows the vital role that Widener and other independent college and universities play in the Pennsylvania economy. “Despite the sour economy, Widener continues to hire employees and welcome some of the largest student classes in the university’s history,” Harris said. “This is good news for residents and businesses in communities like Chester and Harrisburg where Widener has its largest presence in Pennsylvania.” Harris said the study does not include the economic impact of initiatives such as the Widener Small Business Development Center or University Crossings, a $50 million economic revitalization initiative of Widener and Crozer-Chester Medical Center which includes an apartment complex and the first hotel, bank and convenience store in Chester in years. “These efforts go above and beyond what is traditionally measured in economic impact studies,” Harris said. “These efforts are an important part of the university’s civic engagement mission to contribute to the vitality and well-being of the communities we serve.” In 2009, Widener employed 1,070 state residents with an additional 1,020 jobs statewide attributable to Widener. These jobs contributed more than $2.3 million to state and local government budgets from payroll taxes. According to AICUP President Don Francis, job growth was one of the striking features in the economic impact study. “Several years ago the Brookings Institution issued a report saying Pennsylvania policymakers should focus their attention on nurturing eds and meds since these industries were especially strong in the Commonwealth,” said Don Francis, president of the Association of Independent Colleges and Universities of Pennsylvania (AICUP), which conducted the study. “Today’s report confirms the wisdom of that recommendation, for jobs at colleges, hospitals, and doctors’ offices garnered three of the top four spots in payroll by a private sector industry in Pennsylvania.” In 1999, Pennsylvania’s private colleges and universities ranked seventh in private sector payroll with 62,875 jobs and $1.886 billion in payroll. Ten years later, private higher education has moved to fourth with 79,213 jobs and $4.583 billion in payroll. Only management firms (corporate administrative offices), hospitals and physician offices exceed private universities in payroll. “Several top 10 industries in 1999 are gone from the rankings, but private colleges and universities have moved up the list,” said Francis. “As our enrollment has grown to about 285,000 students—including one of the largest numbers of out-of-state students in the nation—we have been able to add good, family-sustaining jobs with benefits. We aren’t recession proof, but we have weathered these recessions better than most private industries.” Summary of Widener University’s Economic Impact in Pennsylvania: Student Spending Impact: $14,515,840 Institutional Expenditures Impact: $93,629,280 Visitor Spending Impact: $ 690,013 Construction Impact: $ 1,113,440 Employee Payroll Impact: $66,530,580 Indirect and Induced Economic Impact: $61,386,216 __________________________________________________ TOTAL Statewide Economic Impact: $237,865,369 The independent higher education sector is the largest of Pennsylvania’s four sectors of higher education. More than 284,000 students attend independent colleges and universities in the state, accounting for 41 percent of all enrollments. These private colleges and universities also account for 50 percent of all degrees awarded in the Commonwealth.

News
July 19, 2010

Widener University's Economic Impact in Pennyslvania Equals $238 Million
The Chester City Blog

Chester, Pa.

Widener University, with campuses in Chester, Exton and Harrisburg in Pennsylvania, contributed nearly $238 million to the state’s economy in 2009, according to an economic impact study conducted by the Association of Independent Colleges and Universities of Pennsylvania.

Overall, Pennsylvania’s 94 independent colleges and universities infused $16.1 billion into the Pennsylvania economy last year, including 8.7 billion in the greater Philadelphia region and $374 million in the Harrisburg region, the study found.

Widener University President James T. Harris III said that the economic impact report, issued every five years by AICUP, shows the vital role that Widener and other independent college and universities play in the Pennsylvania economy.

“Despite the sour economy, Widener continues to hire employees and welcome some of the largest student classes in the university’s history,” Harris said. “This is good news for residents and businesses in communities like Chester and Harrisburg where Widener has its largest presence in Pennsylvania.”

Harris said the study does not include the economic impact of initiatives such as the Widener Small Business Development Center or University Crossings, a $50 million economic revitalization initiative of Widener and Crozer-Chester Medical Center which includes an apartment complex and the first hotel, bank and convenience store in Chester in years.

“These efforts go above and beyond what is traditionally measured in economic impact studies,” Harris said. “These efforts are an important part of the university’s civic engagement mission to contribute to the vitality and well-being of the communities we serve.”

In 2009, Widener employed 1,070 state residents with an additional 1,020 jobs statewide attributable to Widener. These jobs contributed more than $2.3 million to state and local government budgets from payroll taxes. According to AICUP President Don Francis, job growth was one of the striking features in the economic impact study.

“Several years ago the Brookings Institution issued a report saying Pennsylvania policymakers should focus their attention on nurturing eds and meds since these industries were especially strong in the Commonwealth,” said Don Francis, president of the Association of Independent Colleges and Universities of Pennsylvania (AICUP), which conducted the study. “Today’s report confirms the wisdom of that recommendation, for jobs at colleges, hospitals, and doctors’ offices garnered three of the top four spots in payroll by a private sector industry in Pennsylvania.”

In 1999, Pennsylvania’s private colleges and universities ranked seventh in private sector payroll with 62,875 jobs and $1.886 billion in payroll. Ten years later, private higher education has moved to fourth with 79,213 jobs and $4.583 billion in payroll. Only management firms (corporate administrative offices), hospitals and physician offices exceed private universities in payroll.

“Several top 10 industries in 1999 are gone from the rankings, but private colleges and universities have moved up the list,” said Francis. “As our enrollment has grown to about 285,000 students—including one of the largest numbers of out-of-state students in the nation—we have been able to add good, family-sustaining jobs with benefits. We aren’t recession proof, but we have weathered these recessions better than most private industries.”

Summary of Widener University’s Economic Impact in Pennsylvania:

Student Spending Impact: $14,515,840
Institutional Expenditures Impact: $93,629,280
Visitor Spending Impact: $ 690,013
Construction Impact: $ 1,113,440
Employee Payroll Impact: $66,530,580
Indirect and Induced Economic Impact: $61,386,216
__________________________________________________
TOTAL Statewide Economic Impact: $237,865,369

The independent higher education sector is the largest of Pennsylvania’s four sectors of higher education. More than 284,000 students attend independent colleges and universities in the state, accounting for 41 percent of all enrollments. These private colleges and universities also account for 50 percent of all degrees awarded in the Commonwealth.