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TOTAL
ECONOMIC IMPACT
CCSU’s annual economic impact from expenditures and student
labor during the past year totaled $554.8 million*, a
strong, clear measure of the University’s role in enhancing
the state’s economy.
DEGREES GRANTED
In 2007, CCSU granted 2,250 degrees, clearly aimed at
preparing people for careers, as well as enhancing their
collective intellectual and career growth. That number
includes 1,530 bachelor’s degrees, 38 post baccalaureate
degrees, 626 master’s degrees, 58 post-master’s degrees and
17 doctoral degrees.
EXPENDITURES
CCSU’s total annual operating expense for Fiscal Year 2007
was $196.7 million. These expenses directly support the
University’s mission—providing payroll benefits, educational
equipment, library supplies, professional resources, repair
and maintenance facilities, and other essential goods and
services—and create an estimated economic impact of $418.9
million. |
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BUILDING FOR THE FUTURE
Marked progress has been made on CCSU’s major
campus revitalization program. In recent years
several important, student-centered projects
were completed, providing updated and upgraded
facilities with state-of-the-art instructional
equipment. These facilities enable CCSU to
educate a largely state-based workforce that
will continue to produce benefits for
Connecticut well into the 21st century. Work on
these improvements has had, over the past five
years, an average annual impact of $53.9 million
on Connecticut’s construction industry, thereby
creating numerous jobs that produced millions in
wages. (The annual average is determined by
using the last five year total capital
expenditures of $126.6 million and the standard
economic multiplier of 2.13.)
ACTING RESPONSIBLY
CCSU has played a vital part in New Britain’s
educational and cultural life since its
inception in 1849. But we do not have “free
rent” in the city. The University’s land and
buildings are owned by the State of Connecticut,
which makes an annual Payment in Lieu of Taxes
(PILOT) grant to New Britain. For fiscal year
2007, that payment was $3,290,425. TOTAL
ECONOMIC IMPACT CCSU’s annual economic impact
from expenditures and student labor during the
past year totaled $554.8 million*, a strong,
clear measure of the University’s role in
enhancing the state’s economy.
DEGREES GRANTED
In 2007, CCSU granted 2,250 degrees, clearly
aimed at preparing people for careers, as well
as
enhancing their collective intellectual and
career growth. That number includes 1,530
bachelor’s degrees, 38 post-baccalaureate
degrees, 626 master’s degrees, 58 post-master’s
degrees
and 17 doctoral degrees.
EXPENDITURES
CCSU’s total annual operating expense for Fiscal
Year 2007 was $196.7 million. These expenses
directly support the University’s
mission—providing payroll benefits, educational
equipment, library supplies, professional
resources, repair and maintenance facilities,
and other essential goods and services—and
create an estimated economic impact of $418.9
million.
BUILDING FOR THE FUTURE
Marked progress has been made on CCSU’s major
campus revitalization program. In recent years
several important, student-centered projects
were completed, providing updated and upgraded
facilities with state-of-the-art instructional
equipment. These facilities enable CCSU to
educate a largely state-based workforce that
will continue to produce benefits for
Connecticut well into the 21st century. Work on
these improvements has had, over the past five
years, an average annual impact of $53.9 million
on Connecticut’s construction industry, thereby
creating numerous jobs that produced millions in
wages. (The annual average is determined by
using the last five year total capital
expenditures of $126.6 million and the standard
economic multiplier of 2.13.)
ACTING RESPONSIBLY
CCSU has played a vital part in New Britain’s
educational and cultural life since its
inception in 1849. But we do not have “free
rent” in the city. The University’s land and
buildings are owned by the State of Connecticut,
which makes an annual Payment in Lieu of Taxes
(PILOT) grant to New Britain. For fiscal year
2007, that payment was $3,290,425.
* Economic impact determined using a standard
and
customary multiplier coefficient of 2.13. |
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