SUNY Orange shares local economic impact

SUNY Orange recently announced that it had contributed $192 million to the Orange County economy during the 2022-23 academic year, according to the results of a statewide economic impact study of the 30 State University of New York (SUNY) community colleges, using data from fiscal year 2022-23. SUNY Orange also supported 2,347 jobs (one out of every 94 jobs in Orange County) “through a combination of its operational spending, student spending and increased earnings of those alumni still residing in the area,” the state college added.

According to the study, which was completed by labor market analytics company Lightcast, for every dollar invested in the College that year, taxpayers gained $1.20 in added tax revenue and public sector savings over the students’ working lives, and for every dollar students spent on their education at SUNY Orange, they were projected to earn $3.40 in lifetime earnings. “On average, those who earn an associate’s degree at SUNY Orange will see an increase in earnings of $7,200 each year compared to someone with a high school diploma working in New York,” the college noted in its announcement of the study’s findings.

“We have long understood that community colleges throughout New York provide great educational value to their students while also enhancing their communities, and with our growing enrollment, SUNY Orange is certainly doing its part in making Orange County a better place to work, live and play,” said Dr. Kristine Young, SUNY Orange president. “This study quantifies how much more our students can earn by completing their associate’s degree.

“Additionally, the College and its employees spend money locally while our alumni are earning more and returning those earnings to the economy,” Young added. “We also know that the same applies to those who complete workforce training and certification programs because they position themselves to advance in their chosen field and earn a more sustainable wage.”

In its study, Lightcast noted: “The results of the analysis demonstrate that SUNY Orange is a strong investment for all three major stakeholder groups — students, taxpayers, and society. Students receive a great return for their investments in an education from SUNY Orange. At the same time, taxpayers’ investment in SUNY Orange returns more to government budgets than it costs and creates a wide range of social benefits throughout New York.

In FY22-23, SUNY Orange alumni generated $130.9 million in added income to the Orange County economy, the study claimed. It also said that for every dollar invested in SUNY Orange in 2022-23, the people of New York received a cumulative value of $5 in benefits.