Pennsylvania Economic Impact Study Released
March 10, 2005
Pennsylvania's independent institutions contribute $18.3 billion annually into the state’s economy, according to a study conducted by the Association of Independent Colleges and Universities of Pennsylvania. “The Community and Economic Impact of Independent Higher Education on Pennsylvania” covers economic impacts such as employment, both directly and indirectly, and the purchasing of goods and services by the institution and its faculty, staff, students, and visitors. The study also looked at taxpayer savings as a result of in-state students attending independent Pennsylvania colleges and universities rather than public institutions and incurring a taxpayer-subsidized “scholarship” of more than $4,000 per student per year.
In terms of preparing the 21st century work force, independent colleges and universities are graduating more students in the state’s high-tech disciplines than their public counterparts. Furthermore, independent Pennsylvania institutions attract more out-of-state college freshmen than any other state, resulting in a “brain gain” for Pennsylvania because many who attend college in the state end up residing there after graduation.
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