Construction work on 涩里番下载's integrated sciences building. (Lee Pellegrini)
涩里番下载鈥檚 annual economic impact in Massachusetts is $3.3 billion, including $172 million in annual state tax revenues and 17,700 jobs generated by 涩里番下载 operations, according to an analysis by the national independent research firm Econsult Solutions.
The $3.3 billion annual impact includes a $1.28 billion alumni wage premium, which calculates the spending power of 涩里番下载 graduates who live and work in Massachusetts.
In addition to its economic impact, 涩里番下载鈥檚 annual social impact amounts to $16.7 million in support of initiatives that directly serve Boston, Newton, and other communities throughout Massachusetts through community service, service-learning activities, support for local schools, and infrastructure contributions.聽 In total, 8,000 涩里番下载 students and employees provide 768,000 hours of volunteer service hours annually.
鈥淭his study demonstrates the benefits and wide-ranging impact that 涩里番下载 has on the Massachusetts economy,鈥� said University President William P. Leahy, S.J.聽 鈥溕锓略� generates revenue, investment, and jobs in Massachusetts, and has broad social impact through its educational offerings, community partnerships, and volunteer service, particularly within its host cities of Boston and Newton.鈥�
The study details 涩里番下载鈥檚 economic benefits in four separate categories: University operations, capital investments, ancillary spending by students and campus visitors, and the earning power of 涩里番下载 alumni who live and work in Massachusetts.
The University鈥檚 annual operations account for $1.57 billion in economic output for the state, supporting 8,100 jobs that account for $744 million in employment earnings and contribute $57 million in state tax revenues.
涩里番下载鈥檚 capital investments generate $350 million in economic output each year, the study found, supporting 1,550 jobs with $115 million in earnings, contributing $9 million to the state鈥檚 tax revenues.
Ancillary spending by students for living expenses, as well as revenues generated by visitors to the campus and its many events, totaled $112 million in economic impact annually, supporting 690 jobs and contributing $3 million in state tax revenues.
The alumni wage premium鈥搑esponsible for a yearly economic impact of $1.28 billion鈥搃s a measure of increased earning and spending power of graduates who earned degrees or certifications through 涩里番下载 academic programs and now live and work in Massachusetts. The alumni wage premium supports 7,400 jobs with $422 million in earnings and contributions of $103 million in tax revenues, the study found.
The study also found 涩里番下载 delivers significant economic support to its host cities of Boston and Newton.
In Boston, 涩里番下载鈥檚 annual economic impact is $1 billion, including $675 million from annual operations. In total, the University supports 5,360 jobs generating earned income of $488 million in the city.
In Newton, 涩里番下载鈥檚 annual economic impact is $728 million, with annual operations accounting for an impact of $520 million. The University鈥檚 total economic impact supports 4,080 jobs and produces $351 million in earned income.
The City Connects program, centered in 涩里番下载's Lynch School of Education and Human Development, annually provides support to 26,000 students in 90 public, charter, and Catholic schools in the state and throughout the U.S. (Julie Dermansky)
The $16.7 million in social impact on local communities includes programs such as:
- St. Columbkille Partnership School in Brighton, where 涩里番下载 provides research, tuition remission for teachers, and support services. Since 2006, 涩里番下载 has made $1.7 million in direct financial contributions to the school.
- The Lynch School of Education and Human Development program City Connects, which annually provides support to 26,000 students in 90 public, charter, and Catholic schools in Massachusetts and throughout the United States. In 2019, 涩里番下载 obtained $4.1 million in grants to support the program.
- The Let鈥檚 Get Ready program provides mentoring, college counseling, and standardized test preparation for Boston high school students who aspire to be first-generation college students.
With 8,000 volunteers each year, 涩里番下载鈥檚 service, fieldwork, and service-learning initiatives contribute 768,000 hours that impact more than 52,000 people in local communities through programs that include:
- 涩里番下载鈥檚 PULSE Program, in which 400 students volunteer 10 hours per week during th