Economic Impact
As Columbia County's largest employer,
BU is also one of the region's major economic drivers, annually contributing more than $121 million to the local economy. BU's total statewide economic impact is more than $357 million and is responsible for creating more than 4,100 jobs across the state and 1,400 jobs locally.
Spending by the university and its students, visitors, faculty and staff generates more than $148 million and indirect revenues for local individuals and businesses total nearly $209 million.
BU recently funneled more than $85.8 million back into the region through a series of on-campus renovation and construction projects, most visibly on the upper campus where $45.2 million worth of construction has been done. Another $25.7 million has been invested in lower campus projects to total nearly $71 million infused into the region through BU construction projects since June 2008.
Annual impact
- $121 million funneled into Columbia County
- students account for 69.7 percent of BU's economic impact on Columbia County
- each dollar invested by the state and appropriated to BU yields a return of $11.25 in total economic impact
- total in-county economic impact represents 6.2 percent of Columbia County's nominal Gross County Product of $1.9 billion.
- 50% of BU's approximately 950 employees reside in Columbia County; 80% live in the three-county area of Columbia, Montour and Northumberland counties
- state sales tax and individual income tax paid by students, faculty and staff totals more than $3.5 million
- funding in support of economic development totals more than $9.3 million and external funding totals $10.9 million
- 66% of faculty and staff volunteer an average of 4.67 hours per month for an estimated annual value of $872,879