Economic Impact

The Association of Independent Colleges and Universities of Pennsylvania (AICUP) has released the results of a study that estimates the economic impact of Geneva College on the Pennsylvania economy to be $93.2 million and 843 jobs.

The study was conducted by Parker Strategy Group, a nationally recognized research firm specializing in economic impact analysis.

In the analysis, the study considered the direct spending on operations, wages and benefits, and capital projects by Geneva College and the estimated increase in demand for goods and services in industry sectors that supply or support the College. The study also measured the effect of student and visitor spending and the induced effect of increased household income.

According to the study, a key result of this activity is that Geneva College supports and sustains 843 jobs throughout the state. This includes direct employment by the College as well as indirect and induced jobs created by supply and equipment vendors and contractors. The employment figures also include full-time and part-time jobs created throughout the state at businesses such as hotels, restaurants, gas stations, medical offices, and retail stores in support of the institution’s faculty, staff, students, and visitors.

The study also calculated tax revenues generated by this economic activity including sales tax, property tax, personal income tax, and corporate income taxes. The study concluded that Geneva College generates about $7.2 million in tax revenues annually for the Commonwealth of Pennsylvania and for local governments.

This analysis utilized the IMPLAN software to calculate the institution’s economic contribution and adheres to industry standard methodologies for the higher education sector in its research methodology. Nichole Parker, Managing Principal of Parker Strategy Group, notes, “There’s no question that Pennsylvania’s independent, nonprofit colleges and universities serve as vital economic drivers for their communities and help fuel the economic vitality of the Commonwealth.”

The Association of Independent Colleges and Universities of Pennsylvania (AICUP) is the only statewide organization that serves exclusively the interests of independent, nonprofit higher education within the Commonwealth and exists to complement and support the work of campus leaders. AICUP was established in October 1995 through the affiliation of three existing educational organizations.

Economic Indicators by Impact (FY23)

Source: Parker Strategy Group using IMPLAN with data provided by AICUP.

Technical Note: Rounding has been applied to individual data points. As a result, aggregate totals may not exactly match the sum of components.

For questions regarding this news release please contact Lindsay Courteau at 724-847-6577 or email lmcourte@geneva.edu.