Two arts-rich public K-5 schools in
Manhattan
Free Afterschool
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Caribbean L 40 ife, Feb. 28-Mar. 5, 2020
HIGHER ED TODAY
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When I was president of
Queens College and Hostos Community
College, I used to go off
campus for an occasional work
breakfast or lunch. I was always
amazed how hard it was to find a
quiet table.
The delis and ethnic restaurants
were teaming with college
folks—faculty, staff, visitors and
students, a small yet vivid reminder
of CUNY’s vital role as a
wellspring of economic activity
in neighborhoods across the city.
CUNY colleges have always
been a sound investment, for the
students who are able to get a topnotch
education and for the local
businesses that benefit from the
many services our campuses
procure: from computers to furniture,
construction services,
cleaning materials and even food
for the cafeterias.
Now, two economic impact
studies released this month go
further, spelling out CUNY’s
unparalleled ability to create a
positive financial impact, both
locally and on the broader regional
economy, while generating
a tremendous return on investment
for students, taxpayers
and society.
The City College of New York,
the oldest among the 25 colleges
that make up CUNY, added
$1.9 billion of value to the New
York region in fiscal year 2017-
18 through the cumulative economic
effect of its operations,
research, construction and student
and alumni activities—the
equivalent of generating 16,760
jobs, according to one of the studies
from the labor analytics firm
Emsi.
In the second study, released
this week and covering the same
time period, Emsi determined
that Queens College generated
$1.8 billion in economic benefit,
supporting the equivalent of
16,862 jobs.
Other CUNY schools will
likely be assessed for their economic
impact in the future, but
we can already conclude that
CUNY’s 25 colleges together add
billions to the local economy, a
staggering impact that well transcends
that of each campus and
its surroundings. We are also
proud of our robust business
partnerships with hundreds of
Minority and Women-Owned
Businesses.
Breaking down the total contributions
of CCNY and QC, the
studies highlighted the impact
of the schools’ proud alumni,
whose employment value generated
a combined $3 billion in
value. Further, the schools’ combined
operations spending added
approximately $564 million to
the local economy. And for every
dollar of public money spent educating
students at CCNY and QC,
taxpayers see a return of $3 to
nearly $5 over the course of the
students’ working lives.
These studies confirm the indispensable
value of the nation’s
premier urban university. CUNY
is both the American Dream Machine,
propelling students from
humble means to the middle
class, and one of the region’s key
drivers of economic activity.
I’m always pleased when parents
and students come seeking
my advice on how they can benefit
from CUNY’s academic programs;
I’m also pleased when I
meet New York entrepreneurs
and small business owners who
want to do business with CUNY.
It is a little-acknowledged role of
the University, but one of great
importance to the economic vitality
of our City and State.
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Charter schools are free public schools open to
all children, regardless of special learning needs
or English proficiency.
Apply online by April 1!
CharterNYC.org
/www.manhaancharterschool.org
/www.manha
/CharterNYC.org
