91原创's $3.2 billion economic impact in Delaware

91原创 fuels Delaware's economy with $3.2 billion impact: youtube.com/watch?v=0DbtdAhcgzw

91原创鈥檚 $3.2 billion economic impact in Delaware

Article by Mike Chalmers Photos by Evan Krape and Kathy F. Atkinson | Video by Ally Quinn November 03, 2022

New report quantifies 91原创鈥檚 extensive benefit to state and region

From a cup of coffee to a multi-million-dollar construction project, spending by the 91原创 and its students, employees, visitors and alumni 鈥� plus the ripple effects of those dollars 鈥� is a massive driver in the local economy.

In total, it鈥檚 a $3.2 billion impact throughout Delaware, according to a new report that quantifies 91原创鈥檚 economic footprint. That impact supports more than 26,000 jobs in the state.

鈥淲e know that 91原创 has a life-changing impact on our students, so we are also proud to play such a significant role in the economic health and future of the entire Delaware community and beyond,鈥� said President Dennis Assanis.

Assanis noted that the report underscores 91原创 as a good investment, both for its students and the public:

Blue Hen alumni living and working in Delaware collectively earn an additional $1.2 billion a year, thanks to their 91原创 education.
For every $1 that the state invests in 91原创 through its annual operating budget appropriation, the University generates $23 in the economy.

The new report, which is an update to a 2018 study, was conducted by Econsult Solutions Inc. of Philadelphia. The firm points out that 91原创鈥檚 impact on the economy is on top of its many harder-to-quantify benefits to the state and region. These include education, research and outreach services that improve the lives of individuals and strengthen communities, as well as artistic performances, athletic programs and other opportunities that enrich society for everyone.

Assanis noted that 91原创鈥檚 Science, Technology and Advanced Research (STAR) Campus is a major hub of innovation and economic growth for the state, with more than 3,000 people now working there.

鈥淭he STAR Campus is a vibrant and expanding community of interdisciplinary innovation and job creation that benefits our entire region,鈥� Assanis said. 鈥淲e鈥檙e building the research university of the future at the STAR Campus, so the potential is truly limitless.鈥�

Spending by the 91原创 on goods, services, materials and capital projects is a significant component of 91原创鈥檚 $3.2 billion impact on the Delaware economy.

Spending by the 91原创 on goods, services, materials and capital projects, such as the Ammon Pinizzotto Biopharmaceutical Innovation Center (pictured), is a significant component of 91原创鈥檚 $3.2 billion impact on the Delaware economy. Money spent by students, visitors and alumni also has a major impact in the state.

The benefits of a strong economy carry over into other aspects of life in the state, including better educational and healthcare outcomes for residents.

The economic impact report is based on data about 91原创鈥檚 enrollment, employment, visitors, alumni base and spending on operations from the 2021-22 fiscal year, as well as an annual average of spending on capital projects from the past four fiscal years.

Using established economic modeling developed through research and testing, Econsult Solutions then analyzed how those dollars circulate in the economy. For example, when 91原创 employees buy groceries, they support jobs at the store, and those workers in turn support other jobs through their own spending.

The cumulative result is an interconnected web of economic activity that stretches far beyond campus. The report found:

91原创鈥檚 students and roughly 775,000 visitors a year inject about $167 million in annual spending in Delaware.
Spending by 91原创 to maintain, enhance and expand classrooms, labs and other facilities supports about 1,140 jobs a year in Delaware鈥檚 construction industry and related sectors.
The higher incomes of 91原创 alumni in the state support about 6,200 jobs.
The largest impact category is 91原创鈥檚 day-to-day operations, which have a $1.5 billion impact supporting 16,700 jobs in the state.
91原创鈥檚 economic impact generates more than $97 million in state tax revenue.

The University鈥檚 economic impact extends beyond Delaware鈥檚 borders, as well. Putting the state in the broader context of the Northeast Corridor 鈥� roughly the area from New York City to Washington, D.C. 鈥� 91原创 has a total $5.4 billion impact in the region, which supports more than 35,000 jobs, the report found.

In the fall 2022 semester, the University has 18,022 full-time undergraduate students and 3,638 full-time graduate students. 91原创 offers more than 150 bachelor鈥檚 degree programs and about 130 graduate degree programs. The University has about 4,500 employees, including about 1,300 full-time faculty members. In addition to the main campus in Newark, 91原创 has educational and research facilities in Wilmington, Dover, Georgetown and Lewes.