SUNY at Fredonia has an annual economic impact of more than $330 million in the state and more than $204 million in Chautauqua, Erie and Cattaraugus counties alone, according to a new study conducted by the University at Buffalo’s Regional Institute.
In the “local” region of Fredonia, Dunkirk and Sheridan, the economic impact was more than $157 million.
The study used data from the college’s 2012-13 fiscal year and based its findings on how much the college earned in revenue from state aid, grants, tuition and other sources; how much it spends on goods and services, wages and salaries, academic programs and other items; and how much of that money is further circulated and reinvested in the community.
The college had revenues of $140 million in 2012-13 that supported spending of $215.4 million by the college, its employees, students and visitors, according to the study commissioned by Fredonia’s Division of Engagement and Economic Development. Fredonia had 1,780 faculty and staff, 5,214 students, 87,755 visitors, 421 faculty retirees and 42,736 alumni in 2012-13.
Regional Institute staff will present their findings at 11 a.m. May 22 in the Fredonia Technology Incubator, 214 Central Ave., Dunkirk.