New York Chiropractic College Impacts Local Economy
The economic impact of New York Chiropractic College (NYCC) on the local economy and the state has been valued at more than $67 million, according to a recently released report by the Commission on Independent Colleges and Universities in New York (CICU). Using data compiled throughout 2016 and 2017, the CICU calculated the College's economic influence on the region by analyzing direct spending, construction spending, labor, and the spending contributed to the area's economy by students and visitors.
The CICU points out that private, not-for-profit colleges and universities like NYCC are an important driver of economic growth in New York, generating over $88 billion in economic impact each year. NYCC's estimated total direct spending was $27.5 million, and students and visitors to NYCC spent over $9 million locally. In the Finger Lakes region as a whole, nine colleges generate a total of $6 billion in economic impact annually and support over 38,000 jobs. Statewide, colleges and universities support more than 415,600 jobs. As the CICU explains, "The findings of [our] study underscore the vital role that private, not-for-profit colleges and universities play as economic and research engines and job creators throughout the state."
NYCC President Dr. Michael Mestan believes that the CICU data is one important measure of the impact NYCC has on the state and local economy. "We are an institution very much grounded in our locale, committed to the economic wellbeing of the region in which we live," he says. "At the same time, our strength comes from the exchanges we initiate and foster, bringing students into the Finger Lakes region from places as far away as France and Hong Kong, and sending our graduates, with their research, scholarship, and skills, out into the world."