The Fiscal Policy Institute today released a new economic impact report, “SUNY: The Economic Engine of New York,” that reveals the key role SUNY plays in sustaining the economies of counties across New York State. The report examines the economic impact of the SUNY system in terms of the number of jobs created (directly and indirectly), the wage share of those jobs, and the regional location of those jobs.
SUNY is responsible for a significant portion of jobs in key upstate counties, including:
- Cortland County: 24% of all jobs (Cortland)
- Otsego County: 15% of all jobs (Oneonta)
- Broome County: 12% of all jobs (Binghamton)
- Onondaga County: 11% of all jobs (Syracuse)
- Suffolk County: 9% of all jobs (Long Island)
- Erie County: 7% of all jobs (Buffalo)
SUNY is responsible for a significant portion of wages in key upstate counties, including:
- Cortland County: 29% of all wages (Cortland)
- Otsego County: 19% of all wages (Oneonta)
- Broome County: 14% of all wages (Binghamton)
- Onondaga County: 12% of all wages (Syracuse)
- Suffolk County: 9% of all wages (LI)
- Erie County: 8% of all wages (Buffalo)
“In addition to providing high-quality, affordable education, the SUNY system is a critical economic engine for New York — generating hundreds of thousands of jobs and billions in wages across the state. In the face of widespread SUNY operating deficits, the State should take immediate steps to shore up long-term SUNY funding and provide the revenue needed to keep these institutions running,” said Fiscal Policy Institute Director Nathan Gusdorf. “Conversely, continuing to underfund these institutions will threaten one of New York’s strongest job creators, as well as blunt an effective policy tool for advancing economic opportunity.”
