Lightcast study highlights university's economic contributions and return on investment

UTICA, NY – SUNY Polytechnic Institute (SUNY Poly) generated $356.8 million in economic impact and supported 2,901 jobs across the Mohawk Valley and Central New York region during fiscal year 2024–25, according to a new economic impact study conducted in partnership with Lightcast, a leading provider of labor market analytics.

Released in August 2026, the study, The Economic Value of SUNY Polytechnic Institute, examines the university's contributions to the regional economy through its operations, research activities, student spending, and the increased earnings and productivity of alumni. It also evaluates the long-term financial benefits SUNY Poly provides to students, taxpayers, and society throughout New York State.

“SUNY Poly is a powerful economic engine, driving innovation, creating opportunities, and strengthening the communities we serve,” said SUNY Poly President Dr. Winston Soboyejo. “Our students are our North Star, and their success extends far beyond graduation. These findings demonstrate the lasting value of a SUNY Poly education and our continued commitment to advancing economic growth and prosperity throughout the region.”

A Significant Contributor to the Regional Economy
The study identified several key areas contributing to SUNY Poly's overall economic impact:

•  $273.1 million in alumni impact, reflecting the increased earnings and productivity of graduates employed throughout the region, equivalent to supporting 2,119 jobs.
•  $75.6 million in operations spending impact, supporting 685 regional jobs through university payroll, purchasing, and daily operations.
•  $5.1 million in student spending impact, supporting 68 jobs through spending by students who relocated to or remained in the region to attend SUNY Poly.
• $3 million in research spending impact, supporting 28 jobs through university research activities.

The findings highlight the important role SUNY Poly graduates play in strengthening the regional workforce, with alumni contributions accounting for the largest share of the university's overall economic impact.

Strong Returns for Students, Taxpayers, and Society
Beyond its immediate economic contributions, the study found that a SUNY Poly education provides significant long-term financial benefits.

According to the analysis, the average SUNY Poly bachelor's degree graduate earns $38,100 more annually than a worker with a high school diploma or equivalent in New York. Over a working lifetime, that difference translates to approximately $1.5 million in additional earnings.

The study also found that:

•  Students receive $6.20 in higher future earnings for every $1 invested in their SUNY Poly education, representing an average annual return of 21.5 percent.
•  Taxpayers receive $1.60 in benefits for every $1 of public funding invested, through increased tax revenues and reduced demand for government-supported services.
•  Society receives $8.30 in benefits for every $1 invested, with an estimated $950.4 million in long-term statewide benefits, including increased earnings, business income, and social savings.

The results underscore the broader value of higher education as an investment in economic mobility, workforce readiness, and regional prosperity.

As SUNY Poly celebrates its 60th anniversary in 2026, the study reinforces the university's continued role in preparing a highly skilled workforce, advancing research and innovation, and supporting economic growth throughout the Mohawk Valley, Central New York, and beyond.

The study's findings are based on SUNY Poly's fiscal year 2024–25 academic and financial data, government labor market statistics, and Lightcast's economic impact modeling.

To learn more about the recent economic impact study results, visit https://sunypoly.edu/about/economic-impact.html.