A report on the economic impact of Montclair State
University shows that the institution contributes significantly to the strength
of New Jersey’s economy. The report,
prepared by the University using the widely accepted Ryan/New Jersey model of
short-term economic impact calculation, finds that the amount of activity the
institution generates in New Jersey’s economy is more than four times the
amount of state funding it receives.
Other facts contained in the report were:
• 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.
Also highlighted in the report was how Montclair State graduates are more likely to work in New Jersey after college. About 90 percent of the students who earned degrees from Montclair between 1990 and 2006 work in New Jersey. By contrast, New Jersey as a whole 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, go out-of-state.
The complete Economic Impact Report can be viewed online at: http://www.montclair.edu/economicimpact.pdf