Economic Impact

Binghamton University positively impacts the local economy (Broome and Tioga counties) and the New York state economy in terms of economic output, jobs and human capital. University spending on wages and salaries, goods and services, and construction has a direct economic impact, while spending by students and campus visitors indirectly impacts the economy.

Let's look at some highlights from fiscal year 2012-2013, but for more information, visit our Economic Impact page, part of our Advocacy website

Highlights

  • The University's direct and associated expenditures totaled $650 million from July 1, 2012, to June 30, 2013. These expenditures resulted in an overall economic impact of approximately $1 billion on Broome and Tioga counties and $1.34 billion on New York state during FY2013.
  • Revenue of approximately $139 million was generated from New York state appropriations (not including tuition revenue) during the 2012-13 academic year.
  • Based on the University's economic impact, for every $1 the state invested in the University, the University returned $9.
  • Binghamton University's economic impact accounted for an estimated 12% of the GDP of Broome and Tioga counties between July 1, 2012, and June 30, 2013.
  • The University employed nearly 5,000 faculty, staff and student workers in FY2013. Binghamton University's expenditures supported an additional 6,000 full- and part-time jobs in Broome and Tioga counties and another 225 full- and part-time jobs elsewhere in New York state.
  • More than 61,000 Binghamton alumni live throughout New York state, generating millions of dollars in income and sales tax each year. 

$1.34 billion

How much economic activity the University generates for the state, including $1 billion for the region.

 

$9 for every $1 

Every dollar invested in Binghamton University is returned nine-fold to the state.

 

11,000 

How many jobs throughout New York the presence of Binghamton University directly and indirectly supported in 2013.

Last Updated: 6/25/14