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Northeast College economic impact more than $48M, per report

Northeast College of Health Sciences has released its 2020-2021 financial report, showing the institution’s total economic impact exceeded $48 million.

The report, published by The Commission on Independent Colleges & Universities in New York (CICU), outlines Northeast College’s significant contributions to the local economy through institutional and student spending.

The economic impact includes spending on research and development, construction, technology, employee salaries, and other operating expenses, totaling $41.3 million. Additionally, student and visitor spending totaled $6.9 million. The institution supports a total of 500 jobs, including 200 on-campus positions.

Northeast College is one of 12 independent colleges and universities in the Finger Lakes region. Collectively, these institutions enroll 40,000 students and award more than 11,000 degrees in the area each year. These institutions have a total economic impact of $6.2 billion on the region.

According to ongoing studies by CICU, New York State is the leading destination for first-time students leaving their home state to attend private, not-for-profit colleges, such as Northeast. The report also shows that private, not-for-profit colleges and universities in New York account for 77% of research and development spending in the state, or $5.5 billion of $7.1 billion. Additionally, 68% of students of color who attend college in New York State receive their master’s and doctorate degrees from these institutions.

Northeast College has articulation agreements with several CICU partnering colleges, including St. John Fisher College, Houghton University, and Manhattan College. The College is committed to academic excellence and advancing student and educational opportunities in New York State.