Grove City College’s impact on the state and local economy tops $176 million, according to a new study by the Association of Independent Colleges and Universities of Pennsylvania (AICUP.)
The study looked at the College’s direct, indirect, and induced impact as measured by spending by the College on operations, student and visitor spending, the increase in demand for goods and services in industries that supply the College, and household spending by employees and others whose livelihoods are tied to the College.
All that results in an annual infusion of $176,255,822 in the state’s economy tied to Grove City College, according to the study conducted by Parker Strategy Group, a nationally recognized research firm specializing in economic impact analysis.
“Grove City College is a prime example of how higher education plays an integral role in the economy and future of rural communities,” said Jake Rickert, associate executive director of Penn-Northwest Development Corp., Mercer County’s lead economic development agency.
The study found that the College “supports and sustains” 808 jobs in the state, which includes direct employment by the College as well as indirect and induced jobs created by suppliers, vendors, and contractors, as well as service, retail, and medical sectors, resulting in $13.6 million in tax revenues annually local and state governments.
As one of the county’s largest employers, Rickert said Grove City College supports hundreds of local jobs, drives business for area vendors, and generates millions in tax revenue that benefits schools and municipalities. The College also attracts students from across the country, which he said brings “fresh talent and new perspectives” to the region.
“This combination strengthens our local job market and helps us retain young professionals in the region, something rural communities, especially in Pennsylvania, are striving to do. Grove City College is an economic driver and a pipeline for the next generation of leaders,” Rickert said.
Beth Black, executive director of the Grove City Area Chamber of Commerce, said the College is an integral part of the community for many reasons.
“As a large employer, they create a substantial economic impact by providing jobs to many of our friends and neighbors, while also bringing students, families, and alumni into our area who in turn have a positive impact on our businesses by shopping, dining, staying in hotels, and enjoying our various amenities,” she said. “Beyond all of this, Grove City College is a good neighbor that supports local organizations, events, and businesses throughout the year financially, with volunteers and interns, as well as equipping graduates to be desirable employees.”
“At Grove City College, we want to be more than just an academically excellent school. We strive to be a great place to work and a good neighbor,” College President Bradley J. Lingo ’00 said in response to the report’s findings.
Statewide, private colleges and universities are responsible for $29 billion in economic impact – which accounts for about 7% of the state’s economy when affiliated teaching hospitals are included – and $1.5 billion in tax revenue, according to The Economic Impact of AICUP Schools.
Regionally, Grove City College and other private colleges and universities in northwest Pennsylvania contribute $1.2 billion in economic impact, support more than 8,000 jobs, and help generate $61,093,278 state and local tax revenue, according to AICUP.