Economic Impact of the University of Rochester Grew Again in 2019, CGR Study Finds

By: CGR
 
ROCHESTER, N.Y. - Sept. 9, 2021 - PRLog -- The University of Rochester (UR) and its affiliates directly employed nearly 32,500 people in 2019, retaining UR's position as the largest private employer in Upstate New York, a CGR analysis has found.

UR has engaged CGR every other year since 2006 to independently assess the economic and fiscal impact of the University and its affiliates. CGR's analysis for 2019 also found that:
  • UR and its affiliates were the seventh largest private employer in New York State.
  • UR directly employed about 1,700 more people in 2019 than 2017, a 5% increase.
  • In 2019, UR paid $2.2 billion in direct wages to its employees and was responsible for an estimated $4.7 billion in total income in New York State.
  • As a result of spending by the University, its affiliates, visitors and students, UR sustained nearly 68,000 jobs overall in the New York State economy in 2019, up from about 64,000 in 2017.
  • UR generated an estimated $300 million in tax revenue for state and local governments in 2019, including all sales, personal income and property taxes.
  • Intellectual property created by UR resulted in 82 patents and 122 invention disclosures in 2019.
  • Between 2009 and 2019, UR has been responsible for 33 local start-ups.

To learn more about CGR's economic and fiscal impact work, contact Chief Economist Kent Gardner at (585) 466-4273 or kgardner@cgr.org.

About CGR

Founded in 1915, CGR is an independent, nonprofit research and consulting organization delivering expertise in government and education, economics and public finance, health and human services, and nonprofits and communities. Our mission is to drive positive community change through the highest quality research, analysis, data insights and collaboration. To learn more, visit www.cgr.org.

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Tags:Economic Impact
Industry:Non-profit
Location:Rochester - New York - United States
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