{"id":326062,"date":"2018-06-21T12:45:18","date_gmt":"2018-06-21T16:45:18","guid":{"rendered":"http:\/\/www.rochester.edu\/newscenter\/?p=326062"},"modified":"2018-06-25T09:25:32","modified_gmt":"2018-06-25T13:25:32","slug":"economic-impact-new-report-details-growth-of-university-of-rochester-326062","status":"publish","type":"post","link":"https:\/\/www.rochester.edu\/newscenter\/economic-impact-new-report-details-growth-of-university-of-rochester-326062\/","title":{"rendered":"New report details growth of Ä¢¹½´«Ã½ \u00a0"},"content":{"rendered":"

The Ä¢¹½´«Ã½ has added 9,000 employees over the last decade, making it the 5th<\/sup> largest private sector employer in New York State, and largest upstate-based employer, according to a new report by CGR<\/a>.<\/p>\n

\"\"<\/p>\n

\u201cThe role that higher education and healthcare play in communities such as Rochester has evolved over the last decade,\u201d said Richard Feldman, president of the URochester.\u00a0 \u201cMuch of the growth detailed in this report is due in great part to the public and private support the University has received to advance our scientific, education, and healthcare missions.\u00a0 Equally as important, these activities serve as the foundation for a broader responsibility to not only contribute to economic growth, but enhance cultural richness, improve the lives and health of the region\u2019s residents, and pursue partnerships that strengthen communities and overcome barriers to economic opportunity.\u201d<\/p>\n

\u201cThe Ä¢¹½´«Ã½ has long played a vital role in the Rochester economy,\u201d said Mike Silva, CGR data analyst and lead investigator on the study. \u201cIt directly employs 27,000 full-time equivalent staff, and its spending supports a substantial number of other jobs in the region. Moreover, its impact extends beyond just economics. It improves the quality of life in our region. The growth in the number of UR Medicine affiliates demonstrates its commitment to providing world class medical care. \u00a0And the number of capital projects is a testament to the University\u2019s research excellence.\u201d<\/p>\n

The new report details the employment and payroll, capital expenditures, purchasing, student and visitor spending, and tax impact of the URochester, UR Medicine, and its affiliates during 2017.\u00a0 UR Medicine affiliates include Highland Hospital, F.F. Thompson, Noyes Health, and Jones Memorial Hospital, many of which are the largest employers in their respective communities.\u00a0 Data from St. James Hospital was not included in the report as its affiliation with UR Medicine occurred after December 30, 2017.<\/p>\n

Since the last CGR report in 2016, the University has grown by 2,300 FTEs, a 9 percent increase.\u00a0 Over the last 10 years the University has increased by more than 9,000 FTEs and made capital investments of more than $2.7 billion, including major projects such as the Saunders Research Building, Golisano Children\u2019s Hospital, Wegmans Hall\/Goergen Institute for Data Science, UR Medicine\u2019s Imaging & Autism Care Center, and the NextCorps high tech business incubator in the Sibley Building.<\/p>\n

The report notes that education and healthcare have become a major component of New York\u2019s economy with 20 percent of all jobs and 15 percent of all income in state attributable to the two sectors. Six of the top 10 largest private sector employers in New York State are universities\/academic health centers or health systems. With 31,000 employees (27,000 FTEs), the Ä¢¹½´«Ã½ is tied for 5th<\/sup> largest statewide and is the largest upstate-based employer.<\/p>\n

Other highlights from the report include:<\/p>\n