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In FY 2017-18, CCNY added $1.9 billion in income to the CCNY Service Region*
economy, a value approximately equal to 0.2% of the region’s total gross
regional product (GRP). Expressed in terms of jobs, CCNY’s impact supported
16,760 jobs.
O P E R AT I O N S S P E N D I N G I M PAC T
• CCNY employed 2,518 full-time and part-time faculty and staff (not includ-
ing research employees). Payroll amounted to $249.3 million (excluding
payroll from research employees), much of which was spent in the region
for groceries, mortgage and rent payments, dining out, and other household
expenses. The college spent another $63.1 million on day-to-day expenses
related to facilities, supplies, and professional services (excluding research
expenditures).
• The net impact of the college’s operations spending added $288.3 million
in income to the regional economy in FY 2017-18.
R E S E A R C H S P E N D I N G I M PAC T
* For the purposes of this analysis, the CCNY Service Region is comprised of Bronx, Kings, Nassau, New York,
Putnam, Queens, Richmond, Rockland, Suffolk, and Westchester Counties.
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They also facilitate new knowledge creation in the CCNY Service Region I M PAC T S C R E AT E D
B Y C C N Y I N F Y 20 17-18
through inventions, patent applications, and licenses. In FY 2017-18, CCNY
spent $22.5 million on payroll and $30 million on other expenses to sup-
port research activities.
C O N S T R U C T I O N S P E N D I N G I M PAC T
• New York State and the City University of New York invest in construction
each year at CCNY to maintain its facilities, create additional capacities,
$31.9 million
Research Spending Impact
and meet its growing educational demands, generating a short-term infu-
sion of spending and jobs in the regional economy.
V I S I T O R S P E N D I N G I M PAC T
A L U M N I I M PAC T – OR –
• Over the years, students have studied at CCNY and entered or re-entered 16,760
the workforce with newly-acquired knowledge and skills. Today, thousands JOBS SUPPORTED
of these former students are employed in the CCNY Service Region.
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Investment analysis STUDENTS SEE A HIGH
R AT E O F R E T U R N F O R T H E I R
INVESTMENT IN CCNY
STUDENT PERSPECTIVE
22.2%
44 + 20 + 2
• CCNY’s FY 2017-18 students paid a present value of $60.5 million to cover
Average annual return for
the cost of tuition, fees, supplies, and interest on student loans. They also CCNY students
forwent $149.1 million in money that they would have earned had they
9.9%
been working instead of attending college.
Stock market 30-year
• In return for their investment, students will receive $1.4 billion in increased average annual return
• For every dollar of public money invested in CCNY, taxpayers will receive
Students gain
$3.00 in return, over the course of students’ working lives. The average
annual rate of return for taxpayers is 8.7%.
$6.70
in lifetime earnings
SOCIAL PERSPECTIVE
Taxpayers gain
• In FY 2017-18, New York invested $575.6 million to support CCNY. In turn, $3.00
in added tax revenue and
the New York economy will grow by $5.2 billion, over the course of stu-
public sector savings
dents’ working lives. Society will also benefit from $213.7 million of public
and private sector savings.
Society gains
• For every dollar invested in CCNY in FY 2017-18, people in New York will $9.30
in added income and
receive $9.30 in return, for as long as CCNY’s FY 2017-18 students remain
social savings
active in the state workforce.
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