This economic impact analysis, completed by Tripp Umbach & Associates Inc., measures the effect of both direct and indirect business volume and government revenue impacts for the 24 Penn State campuses. The methodology employed in the calculation of these impacts is derived from the standard set of impact research tools developed by the American Council on Education (ACE) for the measurement of college and university economic impact. (more)
An economic impact study released Nov. 30, 2004, positions Penn State as the single largest contributor to the state's economy -- an engine of 24 campuses generating $6.14 billion annually in direct net economic impact to the commonwealth. The University also influences an additional $6.9 billion indirectly each year through business services, research commercialization and the activities of alumni -- for a total of more than $13 billion in annual economic impact in Pennsylvania. Based on the study's findings, Penn State is driving approximately 2 percent of the state's overall business volume -- or $1 out of every $50 in the Pennsylvania economy. (more)
Tourism, Pennsylvania's second largest industry, receives an annual boost from Penn State in the form of tourists and tourist dollars spent, according to an economic impact study released Nov. 30. Penn State visitors who attend conferences, sporting, cultural and alumni events at the University's 24 campus locations currently generate more annual economic impact than the combined impact of all of the state's airport hubs, professional sports teams, and arts and cultural organizations. Stated another way, more than $1 out of every $17 tourism dollars generated annually in Pennsylvania is attributable to Penn State. Spending by out-of-state visitors alone totaled more than $632 million last year. Surpassed only by agriculture with its estimated annual impact of $23 billion, Penn State attracts nearly 875,000 visitors and generates $1.36 billion for the state's economy. (more)
Penn State, which ranks nationally as one of the 10 largest public research institutions, annually expends more than $600 million dollars in Pennsylvania to support research activities. A majority of these funds are attracted from out of state, principally from the U.S. government, from business and industry, and from foundations. (more)
A new economic impact study released this week positions Penn State as the single largest contributor to the state's economy -- an engine of 24 campuses generating $6.14 billion annually in direct net economic impact to the commonwealth. Penn State Milton S. Hershey Medical Center is a major cog in that engine, with a total impact of more than $778 million alone at the 748-student campus. In addition, the campus contributes significantly to Penn State's total business volume impact of nearly $816 million in surrounding Cumberland, Dauphin, Lancaster, Lebanon, Perry and York Counties. Overall, the University also influences an additional $6.9 billion indirectly each year through business services, research commercialization and the activities of alumni -- for a total of more than $13 billion in annual economic impact in Pennsylvania. (more)
A new economic impact study released this week positions Penn State as the single largest contributor to the state's economy -- an engine of 24 campuses generating $6.14 billion annually in direct net economic impact to the commonwealth. Penn State Abington is a major cog in that engine, with a total impact of nearly $146 million alone at the 3,143-student campus. In addition, the campus contributes significantly to Penn State's total business volume impact of nearly $197 million in surrounding Bucks, Montgomery and Philadelphia Counties. Overall, the University also influences an additional $6.9 billion indirectly each year through business services, research commercialization and the activities of alumni -- for a total of more than $13 billion in annual economic impact in Pennsylvania. (more)
A new economic impact study released this week positions Penn State as the single largest contributor to the state's economy -- an engine of 24 campuses generating $6.14 billion annually in direct net economic impact to the commonwealth. Penn State Altoona is a major cog in that engine, with a total impact of more than $181 million alone at the 3,766-student campus. In addition, the campus contributes significantly to Penn State's total business volume impact of nearly $218 million in surrounding Bedford, Blair, Cambria, Huntington and Somerset Counties. Overall, the University also influences an additional $6.9 billion indirectly each year through business services, research commercialization and the activities of alumni -- for a total of more than $13 billion in annual economic impact in Pennsylvania. (more)
A new economic impact study released this week positions Penn State as the single largest contributor to the state's economy -- an engine of 24 campuses generating $6.14 billion annually in direct net economic impact to the commonwealth. Penn State Beaver is a major cog in that engine, with a total impact of nearly $48 million alone at the 666-student campus. In addition, the campus contributes significantly to Penn State's total business volume impact of more than $169 million in surrounding Allegheny, Beaver and Washington Counties. Overall, the University also influences an additional $6.9 billion indirectly each year through business services, research commercialization and the activities of alumni -- for a total of more than $13 billion in annual economic impact in Pennsylvania. (more)
A new economic impact study released this week positions Penn State as the single largest contributor to the state's economy -- an engine of 24 campuses generating $6.14 billion annually in direct net economic impact to the commonwealth. Penn State Berks is a major cog in that engine, with a total impact of nearly $116 million alone at the 2,416-student campus. In addition, the campus contributes significantly to Penn State's total business volume impact of nearly $177 million in surrounding Berks and Lebanon Counties. Overall, the University also influences an additional $6.9 billion indirectly each year through business services, research commercialization and the activities of alumni -- for a total of more than $13 billion in annual economic impact in Pennsylvania. (more)
A new economic impact study released this week positions Penn State as the single largest contributor to the state's economy -- an engine of 24 campuses generating $6.14 billion annually in direct net economic impact to the commonwealth. Penn State Delaware County is a major cog in that engine, with a total impact of nearly $86 million alone at the 1,636-student campus. In addition, the campus contributes significantly to Penn State's total business volume impact of nearly $148 million in surrounding Chester and Delaware Counties. Overall, the University also influences an additional $6.9 billion indirectly each year through business services, research commercialization and the activities of alumni -- for a total of more than $13 billion in annual economic impact in Pennsylvania. (more)
