Office of Communications and Marketing
MONTCLAIR, NJ June 14, 2007 -- An economic impact report on Montclair State University (www.montclair.edu) shows the fast-growing institution contributes significantly to the strength of New Jersey's economy.
The report, prepared by Montclair State University, finds that for every dollar of state funding the University receives, it generates more than $4 of activity in New Jersey's economy.
View the report at http://www.montclair.edu/economicimpact.pdf
- According to the report, in fiscal year 2006:
The economic activity traceable to Montclair State was $338.2 million, almost four and a half times larger than its state appropriation of $77.3 million.
- Approximately 7,332 New Jersey jobs were attributable to Montclair State. These include jobs at the University and jobs that result from its in-state expenditures.
- Montclair State brought approximately $23 million into New Jersey from out-of-state sources.
The report also highlights several longer-term positive trends over nearly a decade of dynamic growth.
The University, the report states, has rapidly increased seats available to New Jersey students, boosting undergraduate enrollment by 21 percent and graduate enrollment by 12 percent since 2000.
Its theatrical programs, meanwhile, drew approximately 161,000 people to campus between 2000 and 2006 as the University added new, state-of-the-art performance venues at its Alexander Kasser Theater. An additional 201,000 people attended University athletic events in that period.
The report contrasts the University's economic impact and growth to declining state taxpayer support for Montclair State and for higher education in general. In 1995, state funding represented 55.2 percent of the University's operating budget.
In 2006, state funding represented 32.9 percent of the operating budget. As a result, student tuition and fees now make up a much higher percentage of revenue, from 28 percent of revenue in 1995 to 48.5 percent of revenue in 2006.
Montclair State was hardly alone, as New Jersey's appropriation for its nine state colleges and universities rose just 1.2 percent between 2000 and 2007.
"Over recent years, the University has experienced significant growth in enrollments, expansion of academic programs, and the addition of new and renovated facilities," said Montclair State President Susan A. Cole. "In short, we are running a bigger and better university than we were just a few short years ago, and these advances have enabled us to contribute even more to New Jersey."
The report also highlighted how Montclair State graduates tend to work in New Jersey after college. About 90 percent of students who earned degrees between 1990 and 2006 work in New Jersey.
New Jersey as a whole, by contrast, is the largest net exporter of students in the United States: more than 24,000 students, or about 57 percent of high school graduates who attend four-year colleges, leave the state. Many of these students never return to live or work in New Jersey.
About Montclair State University
Montclair State is New Jersey's second largest university. It offers the advantages of a large university--a comprehensive undergraduate curriculum with a global focus, a broad variety of superior graduate programs through the doctoral level, and a diverse faculty and student body--combined with a small college's attention to students.