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Home » Valentine's Day » The Commission on Independent Colleges & Universities in New York releases news about the economic impact of Northeast College of Health Sciences

The Commission on Independent Colleges & Universities in New York releases news about the economic impact of Northeast College of Health Sciences

Northeast College Impacts Local Economy, Provides Access to High-Quality Education:

The economic impact of Northeast College of Health Sciences (formerly New York Chiropractic College) on the local and state economy has been valued at nearly $65 million, according to a recently released report by The Commission on Independent Colleges & Universities in New York (CICU). Using data compiled from fiscal year 2019, the figure includes direct spending, construction spending, labor, and the spending contributed to the area’s economy by students and visitors. The CICU study, conducted by the Center for Governmental Research, estimated that Northeast College’s total direct spending was $27.4 million and that students and visitors to the College spent over $8 million locally.

Dedicated and Integral to New York State:

According to CICU immediate-past president Mary Beth Labate, New York State has the largest independent (e.g., private, not-for-profit) sector of higher education in the nation and these campuses play an integral part in New York’s economy. In 2019, New York’s private colleges and universities contributed an estimated $97.6 billion to the state’s economy, increasing by 10 percent from 2017.

Northeast College President Dr. Michael Mestan said that the College community is dedicated to the Finger Lakes region, consciously creating strong economic and professional partnerships for growth. “While much of our faculty and staff are rooted here in Central New York, we also bring students to our region from all over the country, as well as Canada and Puerto Rico,” Dr. Mestan stated. “As we prepare them to become future healthcare leaders, they truly embrace our locale as their own, supporting local businesses and volunteering for community service with regional organizations such as Habit for Humanity of Seneca Falls.”

Providing High-Quality Education:

Further studies by CICU confirm that New York’s private colleges and universities support students by making world-class higher education affordable and accessible. Forty percent of the state’s 1.2 million students, including nearly 300,000 native New Yorkers, are educated on independent campuses. Private colleges in New York also award 55 percent of the state’s degrees in health professions every year.

Northeast College provides further pathways to its in-demand healthcare programs by creating important partnerships with other higher education institutions in the region. This past year Northeast College has created articulation agreements with New York State colleges including St. John Fisher College, Nazareth College and SUNY Cortland.

Impact of the COVID-19 Pandemic:

The COVID-19 pandemic has been very costly to New York’s private colleges. It is estimated that from March 2020 through June 2021, not-for-profit higher education organizations experienced $3.9 billion in pandemic-related losses and costs. This includes tuition losses, refunds for room and board, new pandemic-related expenses like PPE and testing, and lost auxiliary revenue.

While navigating the challenges of the global pandemic, Northeast College has continued to contribute to the regional economy while successfully allowing students to continue their studies and stay on track. The College’s Spring 2021 incoming D.C. cohort was the strongest spring cohort since 2018. With the ending of most of New York State’s COVID-related restrictions in June 2021, Northeast College moved to resume fully normal operations, with Dr. Mestan reminding the College community to “remain vigilant and take lessons learned about health and community with us into a stronger, safer future.”