VOLUME 33, NUMBER 23 |
THURSDAY,
April 4, 2002 |
Study sets UB's
impact at $1.28 billion
University leverages state's investment by more
than 4 times to benefit local economy
By ARTHUR
PAGE
News Services Director
The university
leverages state funding by more than four times to the benefit of Western
New York, with an annual economic impact on the region of more than $1.25
billion, according to a new economic impact study prepared by UB based
on methods used nationally to evaluate the economic impact of universities.
The total
impact on New York State, the study notes, is $31 million higher, or a
total of $1,283,378,119.
Those figures
are in addition to the $288.6 million in state support for UB operations.
The study
notes that SUNY's flagship institution is a magnet annually attracting
$171.2 million in out-of-state revenuesincluding $118.7 million
in federal funds for research. Much of that amount, it adds, would "be
lost to other states if UB did not exist."
In terms
of research expenditures, UB annually expends $187.7 million in funds
from federal and state agencies, foundations, industrial research partners
and institutional resources, according to data for the 19992000
fiscal year.
In addition
to its direct economic impact, UBwhich ranks in the top third of
the nation's 154 major public research universitiesis "a vital economic
engine for both the Western New York region and upstate New York" that
provides several long-term benefits to New York State's economy, the report
emphasizes.
"The university
offers an excellent education at an affordable price, producing highly
educated citizens and future leaders, many of whom remain in New York
State to form the backbone of its professional workforce," it adds.
"UB also
fosters the development of new technology, products and businesses; encourages
public-service programs throughout Western New York and New York State,
and supports a wide range of research projects that benefit people around
the world."
The university,
which offers the widest range of academic programs of any college or university
in New York or New England, has emerged as a key player as the Buffalo-Niagara
region positions itself for economic revitalization in the high-tech,
knowledge-intensive, global economy.
UB is the
lead academic partner in the Buffalo Center of Excellence in Bioinformatics,
which is expected to create thousands of jobs and become a mainstay of
the upstate New York economy over the next five years. The report notes
that UB is credited in large part for the region ranking fourth among
America's top 50 metropolitan areas in degrees granted in science and
engineering and 14th in the nation in academic research-and-development
funding.
The report
was prepared by the office of Provost Elizabeth D. Capaldi.
President
William R. Greiner said the university is "pleased and proud to present
this report, which outlines the considerable contributions that UB makes
to the economic vitality of the Buffalo-Niagara region and to our great
state.
"Each year,"
he added, "UB generates over a billion dollars in economic activity in
Western New York alone. That's an impressive figure, but as this report
makes clear, the depth and breadth of our overall economic impact on the
region and state is even more significant.
"With the
enormous intellectual capital and technological know-how we bring to the
table, as well as our ability to create and to nurture regional, national
and international partnerships, UB is leading the way to an economic transformation
for Western New York and New York State. Every day at UB we are generating
research and refining technologies that will support economies of the
21st century," Greiner said. "This is a crucial part of our mission as
the state's largest and most comprehensive public research university,
and one we take very seriously, as this report demonstrates."
Looking
to the next five years, Capaldi noted that expanding UB's graduate programs
and increasing sponsored-research dollarsboth to be accomplished
through the hiring of hundreds of new faculty memberswill increase
greatly UB's impact on the regional and state economy.
"Research
is a major engine of economic development," Capaldi added. "Each $1 of
research funding produces $3 in economic impact to the community; each
$1 million of research and development spending produces just over 29
jobs.
"UB's intellectual
property," she said, "holds great promise as the foundation for Western
New York's 'New Economy'a knowledge-intensive, global economy built
upon the brilliant ideas and inventions of university researchers."
Highlights
of the report include:
- UB, which in the 2000-01
fiscal year received 33.2 percent of its total revenues from New York
State, "would rank second after National Fuel Gas when its total revenues
are compared to the revenues of the top public companies in Western
New York. This ranking places UB ahead of such companies as M&T Bank,
Columbus McKinnon Corp., Gibraltar Steel Corporation and Moog."
- UB is one of Western
New York's largest employers, ranking fifth in full-time employees behind
the State of New York, the federal government, Erie County and the Buffalo
Public Schools. For 200001, UB recorded 5,421 full-time faculty,
professional staff, librarians and classified service staff and 7,255
part-time faculty, staff and student employees. In addition, the university
was responsible for an estimated 5,610 jobs created as the result of
its research and development efforts.
- Expenditures by UB
in fiscal year 2000-01 totaled nearly $900 million and included $54
million in capital improvements and construction projects.
- Of the $231.6 million
spent by UB in 2000-01 for direct purchases, an estimated 73 percent,
or approximately $170 million, were made within New York State.
- In addition to $168.9
million in revenue to the university in the form of tuition and fees,
campus housing and board contracts, and purchases at campus bookstores,
UB undergraduate and graduate students in 2000-01 spent an estimated
$164.9 million off campus for housing, food, transportation, clothing,
health services, books and supplies.
- The total impact on
the Western New York economy generated by visitors to UB is estimated
at $12.1 million annually.
- Sixty-three percent
of UB's 166,765 living alumni remain in New York State. In Erie County
alone, UB graduates account for 81.9 percent of attorneys, 92.6 percent
of dentists, 67.5 percent of pharmacists and 28 percent of physicians.
- Since 199697,
there have been 340 invention disclosures by UB faculty and staff; 102
U.S. patents have been awarded and 201 license agreements have been
entered with businesses throughout the United States. UB has entered
19 licenses with companies in New York, including licenses to three
new business enterprises started with UB inventions.
- UB faculty, staff and
students volunteer and serve on a multitude of public service, educational,
cultural and community programs and projects that directly contribute
to the quality of life in Western New York and New York State. UB's
annual State Employees Federated Appeal (SEFA), the fund-raising campaign
to benefit the United Way of Buffalo and Erie County, raises approximately
$750,000 per yearthe most from any employee group in Western New
York.
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