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New report details growth of University of Rochester  

June 21, 2018
aerial photo of the University of Rochester campus and Rochester neighborhoodsNew economic data from CGR places the University of Rochester as the largest private sector employer in upstate New York. (University of Rochester photo / J. Adam Fenster)

The University of Rochester has added 9,000 employees over the last decade, making it the 5th largest private sector employer in New York State, and largest upstate-based employer, according to a new report by CGR.

“The role that higher education and healthcare play in communities such as Rochester has evolved over the last decade,” said Richard Feldman, president of the University of Rochester.  “Much of the growth detailed in this report is due in great part to the public and private support the University has received to advance our scientific, education, and healthcare missions.  Equally as important, these activities serve as the foundation for a broader responsibility to not only contribute to economic growth, but enhance cultural richness, improve the lives and health of the region’s residents, and pursue partnerships that strengthen communities and overcome barriers to economic opportunity.”

“The University of Rochester has long played a vital role in the Rochester economy,” said Mike Silva, CGR data analyst and lead investigator on the study. “It directly employs 27,000 full-time equivalent staff, and its spending supports a substantial number of other jobs in the region. Moreover, its impact extends beyond just economics. It improves the quality of life in our region. The growth in the number of UR Medicine affiliates demonstrates its commitment to providing world class medical care.  And the number of capital projects is a testament to the University’s research excellence.”

The new report details the employment and payroll, capital expenditures, purchasing, student and visitor spending, and tax impact of the University of Rochester, UR Medicine, and its affiliates during 2017.  UR Medicine affiliates include Highland Hospital, F.F. Thompson, Noyes Health, and Jones Memorial Hospital, many of which are the largest employers in their respective communities.  Data from St. James Hospital was not included in the report as its affiliation with UR Medicine occurred after December 30, 2017.

Since the last CGR report in 2016, the University has grown by 2,300 FTEs, a 9 percent increase.  Over the last 10 years the University has increased by more than 9,000 FTEs and made capital investments of more than $2.7 billion, including major projects such as the Saunders Research Building, Golisano Children’s Hospital, Wegmans Hall/Goergen Institute for Data Science, UR Medicine’s Imaging & Autism Care Center, and the NextCorps high tech business incubator in the Sibley Building.

The report notes that education and healthcare have become a major component of New York’s economy with 20 percent of all jobs and 15 percent of all income in state attributable to the two sectors. Six of the top 10 largest private sector employers in New York State are universities/academic health centers or health systems. With 31,000 employees (27,000 FTEs), the University of Rochester is tied for 5th largest statewide and is the largest upstate-based employer.

Other highlights from the report include:

  • The University is responsible for directly and indirectly sustaining an estimated 59,700 jobs in the New York State economy. This is up from an estimated 54,000 jobs in 2015.
  • The University and its affiliates are responsible for a total of $3.5 billion in labor income.
  • Rochester students generate an estimated $99 million in spending per year.
  • The University and its affiliates purchased goods and services totaling nearly $1 billion in 2017.
  • About 430,000 people attended a University event in 2017. An estimated 40,000 people were out of town visitors who lodged more than 35,000 hotel night stays.
  • The University’s spending and activities generated $207 million in sales, personal income, and property taxes to state and local governments.

 

Read the full CGR report.

 

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Category: University News