Colleges Place Impact on State at $18.3 Billion
By Jan Murphy, Patriot
News, March 9, 2005
This article reports that a new economic impact study by the Association
of Independent Colleges & Universities of Pennsylvania shows Pennsylvania's
94 private colleges and universities pump $18.3 billion annually into
the state's economy.
Excerpts:
...The private colleges' [AICUP] study showed they employ more than 71,000
people statewide. Their wages and salaries total more than $4 billion
a year, ranking them fourth among the state's private employment sectors
behind hospitals, management firms, and doctor's offices, but ahead of
law offices, banks, and car dealers.
...The combined economic impact of private institutions is triple that
of Penn State University's $6.1 billion annual economic contribution.
(View the AICUP economic impact study on AICUP's
website.)
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