Think Economic Impact
In today’s knowledge-based economy, no city, region, state or country can succeed without strong and vibrant educational institutions like Binghamton University, which serves as a dynamo powering the vitality of the entire region and the state at large.
As a full participant in public and private partnerships and alliances, the University delivers solutions that create jobs and sustain them. Investments in Binghamton University deliver powerful and productive returns to the community and the state.
The economic bottom line: $673 million to the region. $859 million to the state. Every dollar the state invests in Binghamton is returned six-fold to New York's Southern Tier - eight-fold to the state.
2,471 jobs retained or created last year. Faculty and students at the University’s Thomas J. Watson School of Engineering and Applied Science helped 150 small and mid-sized firms across 18 New York counties add or retain almost 2,500 jobs since 1995. Those jobs translate into $75 million in wages, plus a much greater ripple effect — stronger towns, proud families, thriving industries.
Binghamton University opened its Downtown Center in fall 2007, drawing hundreds of students, faculty, staff and visitors downtown every day, helping to revitalize the area. The center houses the newly created College of Community and Public Affairs (CCPA), whose mission to assist the people and governments in our region is a model for the next generation of civic engagement. Faculty, staff and students affiliated with its programs in human development, public administration and social work are close to the agencies and organizations with which they collaborate. It is estimated that the building created 840 jobs during its construction, for an economic impact of $57 million.
Since its first event in January 2004, the University's Events Center has been attracting people and events, making a $20 million annual impact on the regional economy.
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Since 1978, Binghamton University's New York State Trade Adjustment Assistance Center (NYS TAAC) has helped over 1,200 New York firms recover from the effects of foreign competition and has provided more than $53 million in assistance.
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Our Center of Excellence in Small Scale Systems Integration and Packaging is making the region a vital nerve center in the technology race, generating an estimated annual impact of $100 million with partners including Endicott Interconnect, IBM, Lockheed Martin, General Electric, Corning, BAE Systems and Cornell University.
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Since its inception in 1984, Binghamton University's Small Business Development Center has assisted over 9,260 clients and helped to raise more than $98 million in private and public funding for their businesses, helping to create or save over 6,800 jobs across the Southern Tier of New York.
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Plans are under way to develop a law school at Binghamton University. Our goal is to become one of the best public law schools in the nation, building on our academic strengths and fulfilling the need for high-quality, affordable legal education in New York state. Within five years, the estimated annual economic impact will be $26.4 million on the Southern Tier and $33.7 million on New York state.
