Many
people driving by Central Connecticut State University might
remark about the sweeping changes to the campus landscape.
Others attending graduation might marvel at the sheer size of
the senior class. Legions of sports fans will discuss the latest
box scores of CCSU teams in the newspaper.
It
is a pretty safe bet however that few people are sitting around
having a discussion along the lines of, "Wow, that CCSU,
what an economic engine!" But they should. This university,
which has called Stanley Street in New Britain home for
generations, is much more than just "an institution of
higher learning." It is a powerful economic force - in many
ways a driving force - in the city and the region.
Why is that important to know? Because it impacts not only who
chooses to attend, but how government regards and deals with the
university, how businesses support and benefit from it and how
the social fabric of the city and region are changed for the
better by having it here. For example, the university’s total
economic impact on the state’s economy exceeds $362 million.
The state, meanwhile supports the university to the tune of $55
million annually. That $362 million is a pretty good return on
an investment of $55 million.
Who could possibly figure this out, you might fairly ask? A
professor of economics would be the perfect candidate and Armand
Zottola, Ph.D., of New Britain and a member of the faculty was
elected. Recently Zottola, with the support of Joseph Harper,
vice president of external affairs at CCSU and a former state
senator from New Britain, released a report on the economic and
social impact of the university in 2002-03.
What Zottola unearthed may not make for bedside reading, but it
is important reading.
For example, the university annual operating budget last year
was $244.67 million. The university also spent $60 million on
construction projects and over the next 10 years plans to spend
about $200 million in capital expenditures, the report states.
That’s money spent here, in New Britain and in the state.
Because the city land on which the university sits isn’t
taxable, $2.6 million goes to the city annually as payment in
lieu of taxes. There is much more. You might be interested to
learn from the report that about 7,400 full-time students are on
campus daily. It is estimated that their annual spending in the
region - not counting tuition, room and board - is about $45.5
million.
A few years ago, CCSU, at the direction of president Dr. Richard
L. Judd, began to take a more assertive position in terms of
marketing. It was an important decision on many levels. This
university has not only grown in size, but also prestige. It’s
academic offerings have gained recognition from many corners. It
is a university that has not only kept pace with -- but in so
many ways, stayed ahead of -- the times in which we live.
That’s critically important because the bulk of its students
come from the region. Ninety-two percent of the students are
from the state and the New
Britain/Berlin/Plainville/Bristol/Southington area is the core.
And when they graduate, most of those same students stay right
here. They become the business owners, the managers, the
employees, the teachers and parents who make up the next
generation.
In short, the future of central Connecticut is enrolled at CCSU
right now. That fact should make this report and how CCSU
impacts the economy and social fabric of the region important to
anyone who thinks about tomorrow.
Here’s an example: If the quality of one’s education is
directly related to the quality of one’s earning potential in
life, then it is critically important for the region’s economy
that this university provide a superior education. CCSU does
that in a state and region dotted with fine private colleges and
universities.
But not everyone can afford those private schools. The
perception that a private school, because it charges more, means
better education and earning potential than a public school
appears to be if not a fallacy, at least arguable, certainly in
Central’s case.
The National Center for Education Statistics found that
attending "a high cost, highly-selective institution does
not guarantee higher earnings." It also found that
attending "a lower cost public college or university does
not guarantee lower earnings."
Why not? Because the most important factor in the equation
between education and earnings may be "personal fit."
A student attending a school that better fits his or her major
or interest and later occupation will achieve more. Says the
NCES, the bottom line is that "students may select a less
expensive alternative that better provides or fits the direction
they are interested."
If CCSU offers courses, programs, internships and all sorts of
opportunities that a more expensive school offers, CCSU may
prove the wiser choice. If you couple that concept with the fact
that CCSU uniquely understands central Connecticut and has
unique ties and opportunities here, you can see why it is such
an important choice and such an important force in our lives.
One might fairly argue that Zottola works for CCSU and isn’t
about to come up with a report that says the university has
little or no impact on the region. But common sense shows CCSU
has a big impact. Someone simply needed to pull the figures
together and quantify what we can plainly see. He has done the
university and the region a terrific service in this
undertaking.
If you would like a copy of Dr. Zottola’s report, it is
available from the university or the New Britain Chamber of
Commerce.
William F. Millerick is president of the New Britain Chamber of
Commerce.
©The
Herald 2003. Used by permission. |
