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Report says SUNY is $4B part of LI economy

Students enter LaValle Stadium on the campus of

Students enter LaValle Stadium on the campus of Stony Brook University for a graduation ceremony. (May 25, 2011) Photo Credit: Newsday / Thomas A. Ferrara

The State University of New York has a nearly $4 billion annual impact on Long Island's economy, a new SUNY report says.

In the report, made public Wednesday, says Long Island derives about one-fifth of the SUNY system's total state economic impact, "based on the spending of its colleges and universities, students, employees and campus visitors."

"On Long Island, the economic impact of SUNY institutions is a minimum of $3.9 billion," the report says.

The statewide study was prepared by the Rockefeller Institute and the University at Buffalo Regional Institute. It found that the 64-campus SUNY system "is positioned to be the critical force in building an innovation economy for New York."

The study includes Nassau and Suffolk community colleges, along with the Old Westbury, Stony Brook and Farmingdale campuses.

"Its economic impact equates to $5 for every $1 of state support. It has a diverse array of economic development activities already in place across its 64 campuses — and a growing potential to do more," the study concludes.

Photo: May 25 graduation ceremony at Stony Brook University. 

 

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