AICUP: Lackawanna makes continued contribution to Scranton/Wilkes-Barre economy
SCRANTON, Pa. – Along with other independent colleges and universities in the Scranton/Wilkes-Barre region, Lackawanna College contributed towards 4,864 jobs and a total economic impact of $923 million in 2014, according to a recent study conducted by the Association of Independent Colleges and Universities (AICUP).
Among the findings for Lackawanna College were:
- TOTAL statewide employment attributable to institution: 532
- Direct employment (not including student workers): 349
- Additional statewide employment attributable to institution: 183
- Benefit to Pennsylvania state budget from payroll taxes: $264,996
- Benefit to local government budgets from payroll taxes: $146,490
Statewide economic impacts:
- Student spending impact: $3,551,133
- Institutional expenditures impact: $13,933,817
- Visitor spending impact: $276,047
- Construction impact: $400,000
- Employee payroll impact: $9,232,057
“As the numbers show, the 10 independent colleges and universities in the Scranton/Wilkes-Barre area play an important role in the regional economy, creating jobs, partnerships and business opportunities for the region,” said Don Francis, president of AICUP.
AICUP surveyed its member colleges and universities and examined U.S. Department of Education data and other sources to arrive at an impact for the Scranton/Wilkes-Barre area of $923 million in economic benefit provided by the region’s 10 independent colleges and universities. Statewide independent colleges and universities in more than 60 communities contribute $17.97 billion to Pennsylvania’s economy.
Scranton/Wilkes-Barre area independent colleges and universities include Johnson College, Keystone College, King’s College, Lackawanna College, Marywood University, Misericordia University, Summit University of Pennsylvania, The Commonwealth Medical College, the University of Scranton, and Wilkes University.
Regional and state findings include:
- Independent colleges and universities in the Scranton/Wilkes-Barre area directly purchased goods and services from the state’s businesses totaling $335 million in 2014. Statewide the sector spends $6.8 billion annually on goods and services. The overall statewide economic impact of this spending is $9.6 billion.
- Students attending independent colleges and universities in the Scranton/Wilkes-Barre region directly spend $58 million annually, benefiting book publishers, general merchandise stores, grocery and convenience stores, real estate rentals, amusement and recreation establishments, restaurants, clothing stores, telecommunications and utilities, furniture and home furnishing stores, wholesale trade industries and other businesses. Across the state, independent sector students spend $1 billion annually or $2.7 million a day at local Pennsylvania businesses. The total economic impact of this spending is $1.7 billion.
- Independent colleges and universities in the Scranton/Wilkes-Barre region provide 4,864 jobs and pay $220 million in wages. Statewide independent colleges and universities pump $5.67 billion in salary and wage dollars into Pennsylvania’s economy by employing 78,764 residents, besting the annual payrolls of law firms, engineering service firms, commercial banks, temporary help businesses, pharmacy/drug wholesalers and full-service restaurants.
- Employees of Pennsylvania’s independent higher education sector pay $167 million annually in state income taxes and $136 million in taxes to local governments yearly.
- Pennsylvania’s independent colleges and universities spend over $500 million annually on construction and renovation projects.
- In recent years, independent colleges and universities have built theaters, bookstores, mixed student housing, retail shopping and administrative offices to revitalize depressed downtown districts.
AICUP, the only statewide organization that serves exclusively the interests of private higher education within the Commonwealth, exists to complement and support the work of campus leaders. With a membership of 88 private colleges and universities within Pennsylvania, the Association provides a variety of services and programs tailored specifically to the needs and situation of independent higher education.