The analysis, which evaluated the college through investment and economic impact lenses, attributes the vast majority of this growth to alumni contributions. Of the $3.7 billion total, $3.3 billion stems directly from the professional activities of graduates working within the region. The remaining impact is comprised of operational, research, and student spending, alongside construction and visitor-related activity. Serving 17,741 students, the college effectively supports 23,906 jobs across the area.
City College of New York Generates $3.7 Billion Regional Economic Impact
The City College of New York injected $3.7 billion into the regional economy during the 2023-24 fiscal year, according to a new report from labor analytics firm Lightcast. This figure marks a significant climb from the $3.2 billion recorded in 2021-22, reflecting the institution's expanding footprint across ten New York counties.
Beyond direct financial output, the study highlights the college as a high-yield investment. For every dollar contributed by students, the return is $7.90; taxpayers see a return of $1.60 for every dollar invested, while society gains $9.80 in total benefits. CUNY Chancellor Félix V. Matos Rodríguez noted that these figures demonstrate the college’s essential role in workforce development and innovation. CCNY President Vincent G. Boudreau added that the data encourages the institution to further align its academic programming with the evolving demands of New York’s economy. With a payroll exceeding $281 million and nearly $148 million spent on regional facilities and services, the college remains a primary economic engine for the city and its surrounding counties.
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