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Private Colleges in New York Have $40 Billion Impact

By Mark Scott

Albany, NY – New York's more than 100 independent colleges and universities generate more than $40 billion in economic activity.

The report on economic activity was put together by the Commission on Independent Colleges and Universities. It found that statewide, private colleges employee 131,000 people and teach 426,000 students.

In some communities, their very survival is entirely dependent on the colleges located within their borders.

Commission President Abe Lackman says the impact of private colleges in Western New York tops $1.1 billion.

Despite forecasts of a severe budget deficit, Lackman says now is not the time to cut back on tuition assistance and other programs benefiting private college students.

"Today's and tomorrow's jobs are based on knowledge," Lackman said. "We must avoid sending mixed messages to the industries and companies that recently have stepped forward to invest in higher education in New York State.

"The state cannot afford signaling confusion about its commitment to a knowledge-based economy."