“Eds and Meds” as Economic Drivers in NYS

Posted by & filed under CGR Staff.

Mike SilvaEducation and healthcare are major sectors in New York State’s economy. The Bureau of Economic Analysis estimates 20% of all jobs and 15% of total income statewide are generated by these two sectors.

CGR recently concluded our economic impact analysis of New York State’s independent colleges and universities sector, the eighth in an annual series. The sector’s 100+ private, not-for-profit higher education institutions are spread across the state, and collectively contribute approximately $88.8 billion to New York’s economy. Our study breaks this impact into three categories. Read more »

National Technical Institute for Deaf Boosts Rochester Economy & Visibility

Posted by & filed under CGR Staff, Rochester Business Journal.

Kent GardnerHigher education is a major contributor to our region’s prosperity. Home to 18 colleges and universities, total employment in the sector rose steadily during the recession and totaled nearly 35,000 last year, up 16% since 2007.

Yet Rochester higher ed stands out for more than just job and payroll totals. The community is home to a number of distinctive institutions that set the region apart. One of these, the National Technical Institute for the Deaf (NTID) at the Rochester Institute for Technology, may be better recognized outside Rochester than inside. NTID is the world’s first and largest technological college for students who are deaf or hard of hearing.  Established by Congress in 1965, the first students entered in 1968.

A recent CGR study of NTID concluded that the Institute is responsible for more than 1,000 jobs, both direct and spillover, and over $50 million in labor income. Moreover, due to its national scope and reputation, it captured $84 million in outside funding (75% federal) over the 2006-11 period. NTID has done its part to strengthen higher ed in Rochester, boosting enrollment by 24% from 2007. Read more »