1. SUNY Economic Impact Studies: Three Perspectives Julie Chiarito, SUNY New Paltz Carol Runge, Cayuga Community College Kathryn Foster, University at Buffalo Regional Institute SUNY AIRPO Niagara Falls, NY June 9 th, 2011

2. Three Models SUNY New Paltz: Original Design; 2008-09 Data Cayuga Community College: Contracted with EMSI, Inc., Fall 2008 State University of New York: Study conducted by the University at Buffalo Regional Institute and Rockefeller Institute of Government, University at Albany

3. State University of New York at New Paltz Economic Impact Study

4. The College, employees, students and visitors spent $184.8 million in the Hudson Valley and $207.5 million in NYS in the 2008-09 academic year. SUNY New Paltz generated $338.0 million in overall economic activity and 3,331 jobs in the Hudson Valley, and $398.6 million and 3,981 jobs in NYS annually. Measures New York State impact only, expenditures of any type occurring outside of NYS are not part of the analysis. New Paltz Total Economic Impact 2008-2009 Study completed every 3 years starting in 2004 (2002-2003 fiscal year)

5. Measuring Impact

6. The Economic Multiplier Multiplier used for Indirect Impact: RIMS II input-output multipliers show how local demand shocks affect total gross output, value added, earnings, and employment in the region. https://www.bea.gov/regional/rims Cost - $275 per region (one for NYS, one for Hudson Valley)

7. Salary Impact and Employment 3rd ‐ largest employer in Ulster County 1,738 people full and part time 1,794 student workers $67.5 Million Payroll (College + ) includes salaries paid out of state Where did we get these data :  Annual gross salary (State, IFR, DIFR, SUTRA,CWS, Students) from PayServ queries plus data received from Auxiliary services, Student Association, Foundation, and Research Foundation  Full and part time workers based on Payroll 17 IPEDS reporting (State, IFR, DIFR, SUTRA) plus data received from auxiliary services, Student Association, Foundation, and Research Foundation. Student workers were by far the hardest to track. Student workers include college workers, bookstore, student association, auxiliary services, food service, and research foundation.

8. Direct College Spending $53.7 million on goods and services (excluding wages) in NYS Supplies & Services State University Construction Fund  Construction  Large-scale maintenance and renovation Where did we get these data :  Financial Reports by Vendor from SUNY Legacy System (includes State, DIFR, IFR, and SUTRA)  Construction fund spending from System office  Auxiliary services (including bookstore and food service) from CAS  Student association, Foundation, and Research foundation

9. Student Spending $101.3 million excluding tuition and fees Where did we get these data :  Fall 2008 enrollment (Undergraduate / Graduate, on-campus versus off-campus)  Used enrollment to calculate: Room Board Books & Supplies Transportation

10. Visitor Spending $3.9 million including both day and overnight visitors Where did we get these data :  Spring 2010 student visitor survey conducted by IR & CCREO  Ulster County Department of Tourism provided estimated total visitor spending in 2008. Used these data to calculate cost per day visitor and cost per overnight visitor Limited by amount of data available on campus visitors. The visitor spending excludes Commencement guests, orientations, open house visitors, athletic and arts events visitors as there was not enough information on who attended these events, or the length of their stay

11. Alumni Impact 51,500+ working age New Paltz alumni age 65 or younger Generated $921.6M in value-added earnings (above what they would earn with just a high school diploma) Where did we get these data :  Alumni Office data on number and age of alumni with Bachelors degrees  Assumes all alumni under the age of 65 were working and does not take in account unemployment or under-employment  The value added for having a Bachelor degree equals the average annual earnings for a Bachelor degree minus the average annual earnings of a high school degree. The value added for having a Master degree equals the average annual earnings for a Master degree minus the average annual earnings of a Bachelor degree. (Dept of Labor)  Value-added earnings not included in economic impact of SUNY New Paltz as not all Alumni are part of NYS. Some limitations exist in the data for current addresses.

12. Volunteerism and Service 79% of College’s personnel volunteered their time, 100 hours on average Where did we get these data :  Civic Engagement survey conducted in Spring 2010 by Center for Research, Regional Education and Outreach (CRREO)

13. Some Limitations and Challenges Labor intensive! Manual coding of expenditures for type of RIMS II expense, approximately 10,000 lines of data. Dependent on others to provide much of the data unless have access to SUNY legacy or PayServ reports for state expenditures College spending based on July 1 – June 30 fiscal year. CAS spending based on April 1 – March 31 fiscal year. This created some difficulty for CAS in providing expenses for our fiscal year Time consuming! Started in February – March timeframe. Final report done mid- summer The impact of the college’s knowledge and expertise, services and cultural offerings on the lives of the community members, which cannot be easily quantified, can not be calculated.

14. Cayuga Community College A Dynamic Environment +24.5% Enrollment Increase (2005-06 to 2010-11) 4,800 Students, 20 th among 30 CCs in FTE Two Campuses: Auburn, Cayuga County and Fulton, Oswego County, Online (23%) Long-term Challenges: NYS HS Students, -27.2% between 2008-2019; 52 nd among 62 NY counties

15. Motivation to Fund Socio-Economic Impact Study New Leadership 1) Identified need for evidence to support value of Cayuga CC. 2) Perception of Cayuga CC sponsorship. 3) Guide and support future strategic decisions on program and resource allocation. 4) Value of independent assessment: Selected Economic Modeling Specialists, Inc. (EMSI, Inc.) Price = $10,000

16. Model Inputs Financial/Economic: Similar to SUNY New Paltz Student Data: Headcount, Current and Historical Residence (During and After Attendance) Demographics: Age, Race/Ethnicity, Entry Level of Education Achievements (Graduation, Transfer, Credit Hours Earned)

17. Regional Analysis Direct income of faculty and staff ($18.2 Million) Adjusted for monies from County that could have been utilized for other purposes. Student spending ($223,000) Spending attributed to students outside region. Higher income of students still active in workforce ($249 Million) Labor income ( 681,900 net Credit Hours x +$152/CHE) + Non-Labor Income (+productivity, property values and investments) Total Regional Impact: $267.8 Million

18. Investment Analysis OVERARCHING GOAL: Net Present Value of Benefits and Costs Taxpayer Perspective Broad: Added income and avoided social costs Savings: Medical, Crime, and Unemployment Social Science Research: Studies that correlate levels of education to: -- Absenteeism, tobacco and alcohol use --Incarceration rate probabilities --Welfare probabilities and reduction Narrow: Limit overall public benefits to those that specifically accrue to state and local government.

19. Investment Analysis STUDENT PERSPECTIVE Benefits - $199.7 Million Increased earnings ($36,900 / year, +37.7% to someone with HS diploma) Lifetime increased earnings --Income at students’ career midpoint --Assumes workforce age to be 24-65 Costs - $27.9 Million Tuition, fees and opportunity cost of time (adjusted for partial employment) State and local government funding Benefit/Cost Ratio = 7.2 ($199.8/$27.9)

20. Conclusion Assumptions merit investigation; Factors included within models vary Review economic impact study methodology closely Cayuga CC enriches the lives of students, increases students’ income, reduces demand for social services, and contributes to the growth of the economy.

21. The Economic Impacts of the State University of New York June 9, 2011 Presentation to the SUNY Association for Institutional Research and Planning (AIRPO) Kathryn A. Foster, Director, UB Regional Institute

22. 64 campuses

23. Data Sources Survey of campus directors of institutional analysis and alumni relations SUNY and the SUNY Research Foundation National databases, including the American Community Survey and the Integrated Post- Secondary Data System (IPEDS) of the National Center for Education Statistics

24. 2,132,600 463,800 Students 83,000 Employees Who originated from……within NYS 92% …elsewhere in U.S. 4% …elsewhere in world 4% 1,585,000 Alumni …who live in New York State

25. 173,000 jobs in NYS $460 million in taxes $13.6 billion in expenditures $10.3 billion in revenues SUNY and affiliates (students, visitors) spend… These dollars circulate… SUNY attracts… generating and supporting… in economic impact $19.8 billion

26. SUNY’s return on state investment = NYS appropriations $3.9 B $19.8 B return on investment for every dollar of state funding $5.10

27. 1.6 million SUNY alumni in NYS… …have credentials to fill 40% of all degree-requiring jobs in NYS… …even though SUNY generates only 30% of all degrees granted in NYS. Degree-requiring jobs in NYS

28. In one year (2008-09): 78,800 SUNY grads 2,500 doctoral/ professional degrees...plus 2,800 vocational or post-grad certificates 31,000 associate’s degrees 35,000 bachelor’s degrees 10,300 master’s degrees

29. 20% of all businesses in NYS are within 1 mile of a SUNY

30. …younger …more diverse Compared to the rest of their counties, these nine SUNY Impact Communities are… …more educated …more walkable And have lower… …housing vacancy rates …out of county commuting

31. 10 regions: …6 with nearly $2 billion or more economic impact from their SUNYs SUNY and New York’s Regional Economies $2.1 billion $1.1 billion $3.7 billion $604 million $2.0 billion $1.3 billion $683 million $2.1 billion $1.9 billion $3.9 billion

32. Capital District 219,000 SUNY students, alumni and employees

33. Capital District 44,200 students attended a Capital District SUNY school. Where these students originated... 68% from within this region 26% from elsewhere in NYS 2% from elsewhere in U.S. 4% from elsewhere in world Permanent home address of SUNY students by ZIP code, 2010 Top 5 Countries: #1 China #2 S. Korea #3 Czech Rep. #4 Greece #5 India 24% Minority students DIVERSITY 21% Students from a low- income ZIP code (20%+ children live below the poverty line) 18% Non-traditional students (age 30+)

34. Capital District 166,000 SUNY alumni live in the Capital District. 103,000 …graduated from a SUNY in this region and stayed in this region. 63,000 …graduated from a SUNY elsewhere in NYS and now live in this region.

35. Capital District Capital District SUNY alumni hold degrees to fill Capital District workforce needs across industries. 100%90%80%70%60%50%40%30% Art Agric. Tech. Trades Communications & Media Law & Public Service Social Services Science, Engineering & Environmental Hospitality & Service Education Health Business & Finance Computer & Mathematics

36. Questions?? http://www.newpaltz.edu/makinganimpact/ Julie Chiarito (chiaritj@newpaltz.edu) Financial Analyst, SUNY New Paltz – Institutional Research & Planning Kathryn Foster(kafoster@buffalo.edu) Director, University at Buffalo Regional Institute Carol Runge (runge@cayuga-cc.edu) Director, Institutional Research and Planning, Cayuga Community College Sharon Ana Entress (entress@buffalo.edu) Senior Policy Associate, University at Buffalo Regional Institute Web: http://regional-institute.buffalo.eduhttp://regional-institute.buffalo.edu