The New Jersey Association of State Colleges and Universities, an organization that supports the missions and well-being of seven senior public institutions of higher education in the state, said the member institutions annually produce some $6.1 billion in economic activity in New Jersey, generating an estimated $220 million in tax revenue for the state each year.
The data was released in a recent comprehensive economic impact study highlighting member institutions’ contributions to the state of New Jersey.
Among the report’s key findings was this: For every $1 million in state funds invested, the colleges and universities produce $16 million in economic activity. They also support roughly 36,000 jobs and $2 billion in labor income in the state. (Read the executive summary here.)
NJASCU’s seven member institutions include Kean University, New Jersey City University, Ramapo College of New Jersey,…
