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A new independent study measures the economic impacts created by Brooklyn College on the regional economy and the benefits the college generates in return for the investments made by students and taxpayers.
"It’s fitting that one of Brooklyn’s premier institutions of higher education is one of the greatest economic drivers of our economy. With so many young New Yorkers, particularly students of color and children of immigrants, attending Brooklyn College, we must continue to invest in institutions like these that play such a critical role in advancing economic and social mobility."
Brooklyn Borough President
For students, the benefits of a Brooklyn College degree translate into an additional $41,500 in annual earnings compared to a high school diploma, amounting to $1.7 million over a lifetime.
For every dollar of public money invested in Brooklyn College, taxpayers receive $3.70 in return, which is the equivalent of $749.6 million over the course of graduates’ working lives.
The social benefits of Brooklyn College total $6.9 billion, and include $4.4 billion in added student income, $2 billion in added business income, $295.4 million in added income from college activities, and $252 million in social savings related to health, the justice system, and income assistance, which correlate with college education.
A new economic impact analysis finds that Brooklyn College contributes $2.6 billion annually to New York City’s economy, supports more than 20,000 jobs, and increases the future earnings of its graduates up to $1.7 million over a lifetime compared to those with only a high school diploma. This study measures the economic impacts created by Brooklyn College on the regional economy and the benefits the college generates in return for the investments made by students and taxpayers.
Increase in earnings per year
Income added to NYC
Jobs supported in NYC
“Our world-class faculty and staff not only equip students with the tools needed for personal success but empower them to contribute significantly to the regional economy. We are proud to be one of the leading institutions for social mobility and to be a beacon for young people looking to receive an unparalleled, affordable education.” —Michelle J. Anderson, Brooklyn College President
Data and assumptions used in the study are based on several sources, including the FY 2021-22 academic and financial reports from Brooklyn College, industry and employment data from the U.S. Bureau of Labor Statistics and U.S. Census Bureau, outputs of Lightcast’s Multi-Regional Social Accounting Matrix model, and a variety of studies and surveys relating education to social behavior. The study applies a conservative methodology and follows standard practice using only the most recognized indicators of economic impact and investment effectiveness. For a full description of the data and approach used in the study, please consult the full report.
A new study looking at the 2021-22 fiscal year finds that Brookyn College adds $2.6 billion in added income to New York City region and 20,533 jobs.
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