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Feb. 26, 20003
REPORT: SUNY OSWEGO'S ECONOMIC IMPACT ON COUNTY IS $119.3 MILLION ANNUALLY
OSWEGO -- SUNY Oswego offers an annual economic impact of approximately $119.3 million in Oswego County and pumps $213.3 million per year into the economy of a seven-county region in Central New York, according to a new report.
"Prospering Together: 2001-2002," the college's latest economic impact study, also notes that the campus provides 1,776 full-time-equivalent jobs, making it among the top employers in the county and Central New York.
The spending of students, faculty and staff creates an additional 1,420 jobs in Oswego County plus another 1,728 jobs in six neighboring counties -- Onondaga, Cayuga, Jefferson, Lewis, Oneida and Madison -- the study found.
"The purchasing power of our employees combined with that of the college itself and the goods and services consumed by our more than 8,500 students help drive the regional economy," SUNY Oswego President Deborah F. Stanley said.
The college's students interact within the area economy both as consumers and workers, the study found. For instance, 943 student interns provided more than 325,400 hours of service to local businesses, non-profit agencies and government offices last year.
Direct full-time student expenditures are estimated at $30.6 million within Oswego County and $39.2 million total for the seven-county region. The report adds that faculty and staff account for another $30.6 million in Oswego County spending and $39.9 million in the seven-county area.
The report also cites other ways SUNY Oswego benefits the local community, such as programs through the Center for Business and Community Development, educational partnerships with Oswego County school districts and cultural and entertainment opportunities.
"In essence, we help nurture, develop, and grow human resources," Stanley said. "Graduates use their talents and abilities to advance the communities in which they live, grow and prosper."
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