Report finds Connecticut’s independent colleges pump $15.4B into the state

Connecticut”™s 15 nonprofit independent colleges and universities channeled $15.4 billion into the state during fiscal year 2019, according to a newly published study by the Connecticut Conference of Independent Colleges (CCIC).

Sacred Heart University was credited with generating $1.63 billion in total economic impact, with over $975 million in direct spending and $657 million in induced spending plus the creation of 11,866 jobs.

The University of Bridgeport was cited for bringing in $1.06 billion in total economic impact, with more than $637 million in direct spending and $429 million in induced spending plus the creation of 7,748 jobs.

“The nonprofit, independent higher education sector is a key driver in Connecticut”™s economy,” said Jennifer Widness, CCIC president.

“Collectively, our member institutions are economic engines in this state, serving as magnets attracting students and their families, alumni and tourists that all spend money locally yet use minimal municipal services. They are large employers in the communities ”“ the largest, in some instances ”“ and collectively employ nearly 30,000 people statewide.”