According to a recent report by the Commission on Independent Colleges and Universities in New York (CICU), Mount Saint Mary College is a massive economic engine for the local community, with a total positive impact of nearly $120 million.
This total includes spending on research and development, construction, technology, salaries, and other operating expenses, plus the impact of spending by students and visitors in the community, notes CICU.
The December 2024 report, using data from the 2022-23 fiscal year, places the institutional impact at $101.5 million.
Visitors and students added an additional $18.4 million to the region’s economy. This spending includes discretionary expenditures by students, combined with money spent by campus visitors while attending parents’ weekends, conferences, sporting events, and other campus activities.
From faculty and administrators to support service professionals, the Mount provided approximately 500 jobs on campus in the 2022-23 year. Employees from the Mount, and others whose employment is dependent upon it, contributed an estimated $2.6 million in state personal income tax revenue and state and local sales tax revenue that year.
The full report can be read here: www.cicu.org/economic-impact
Mount graduates go on to create positive economic impacts of their own: According to the college’s survey results, 91 percent of recent alumni are employed or attending grad school within six months of graduation. In addition, the average salary of these grads is more than $80,000. This highly qualified pool of Mount job candidates means more professionals with a love of the Hudson Valley, and more professionals who choose to stay local.