Stockton Economic Impact Study Shows College Provides More Than $442 Million Total Economic Benefit
Galloway, NJ – The Richard Stockton College of New Jersey’s first Economic Impact study in seven years reveals a total economic impact of more than $442 million, based on the most recently available figures from the 2011 fiscal year.
“In addition to its role as an educational hub and cultural driver of the region, Stockton is a strong economic engine,” President Herman J. Saatkamp said. “We knew this prior to the start of this study. The results, however, show a much larger impact than we anticipated.”
Stockton, with a current enrollment of more than 8,000 undergraduate and graduate students, generates operating revenues in excess of $100 million annually.
The report, Economic Impact Report, Fiscal Year 2011 (click on title for online access), examined four areas of importance: direct spending (defined as purchases, wages and expenditures by Stockton students); volunteer services; alumni earnings contribution to the economy; and job creation.
The report revealed that Stockton, which recently celebrated its 40th Anniversary of Teaching, had nearly doubled its economic impact since a 2005 report.
“Stockton’s economic impact on the region means a great deal to the growth, vitality and quality of life to southern New Jersey and the entire state,” Dr. Saatkamp said. “Conversely, the growth, vitality and quality of life of the region nurtures Stockton’s growth.This report quantifies and places the College’s contributions in a relatable context.”
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