Manor College has contributed $20.4 million and 291 jobs to Pennsylvania in 2018, according to the Association of Independent Colleges and Universities of Pennsylvania (AICUP) in a report released this month. Additionally, the study calculated tax revenues, including sales, property, personal, and corporate income taxes for Manor College at $960,000 in the same year.
In “The Economic Impact of AICUP Schools: Independent, Nonprofit Colleges and Universities in Pennsylvania,” the Association, which represents more than 90 colleges and universities across the Commonwealth, calculated the contribution its member schools have made state-wise, as well as regionally and individually. The report details the overall monetary economic impact, the numbers of jobs supported and sustained, and the state and local tax revenue that can be attributed to AICUP schools. Additionally, it details the wages and salaries paid, federal research awards, and charitable giving and volunteerism impact that these schools have.
“We are delighted to be such a significant part of the Commonwealth’s and our local economy,” said Dr. Jonathan Peri, President of Manor College. “Our core mission is educating the workforce of today and the leaders of tomorrow. This kind of investment in our home community evidences our commitment.”
Overall, Pennsylvania independent colleges and universities contribute $24 billion to the economy, while sustaining nearly 200,000 jobs.
In the press release detailing its findings, Tom Foley, President of AICUP noted, “AICUP schools graduate 75,000+ students a year. They educate more than half of all college students in the state; graduate more than 50% of the minority students seeking a 4-year degree in Pennsylvania; and serve more than 40% of all the students who qualify for PHEAA and Pell need-based grants. These AICUP schools truly serve publicly, though they are largely funded privately.”
The study was conducted by Parker Philips, Inc, a nationally recognized consulting firm specializing in economic impact analysis.