University of Rochester

New Report Details Economic Reach of University of Rochester

August 14, 2008

A new report from the Center for Governmental Research (CGR) details the economic impact of the University of Rochester, which it identifies as a "key driver of local and regional economic growth." The University, which is Rochester's largest employer, added 745 full time equivalent (FTE) employees over the last year.

"The University of Rochester represents a dynamic synthesis of science, education, health care, and liberal arts which is serving as a catalyst for economic growth and job creation," said Joel Seligman, president of the University of Rochester. "Our goal is to continue to bring together the brightest scientific minds and provide them with the facilities and resources necessary to drive technological innovation."

According to the CGR report, the University of Rochester:

  • Provides employment to 18,671 FTEs as of December 2007 (21,764 full and part-time employees in total), up from 17,926 in 2006, an increase of 745;

  • Paid wages of over $1.07 billion to employees living in Upstate New York;

  • Received more than $1.7 billion in external research funding from 2003-2007;

  • Generates aggregate employment for an estimated 28,000 to 43,000 people (between 5.7 and 8.7% of the labor force in the Rochester Metropolitan Statistical Area);

  • Generates an estimated $125.3 million in property, sales and state income tax revenue per year;

  • Provided training for 46% of the doctors currently practicing in the region;

  • Purchased $96 million worth of goods and services locally;

  • Spent an average of $175 million per year on capital projects, supporting 2,800 construction-related jobs annually; and

  • Drew visitors that were responsible for more than 18,000 local hotel reservations.

Seligman notes that the University's steady expansion is due, in great part, to the support of federal, state, and local government, the region's business community, and private donors that has enabled it to leverage research funding in critical high-technology fields. Recent public investments coupled with private philanthropy in biomedical research, optics, and engineering facilities have helped propel significant growth in research funding and faculty recruitment. Since 2000, external research funding has grown from $219 million to over $360 million in the current year.

"In recent years, we have forged a highly successful partnership with government, the business community, and private donors to convert public investments into jobs and new technologies that can fuel Rochester's innovation economy," said Seligman. "And we have committed to a future course that will propel us to even greater heights."

The University has charted an ambitious plan for future growth that will translate into more employees and expanded research, education, clinical, and cultural programs. For example, the Eastman School of Music is in the midst of a greater than $40 million renovation and expansion. The Laboratory for Laser Energetics recently dedicated the $97 million Omega EP laser facility at the Robert L. Sproull Center for Ultra High Intensity Laser Research. And earlier this year, the University of Rochester Medical Center announced a $500 million strategic investment in new faculty and facilities that, in a separate report, CGR estimates will create 1,800 permanent new jobs in the region.

You can see a complete copy of the CGR report, titled "Economic Impact of the University of Rochester and its Affiliates," here: www.cgr.org




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