The projected economic impact of Kutztown University in the commonwealth of Pennsylvania during the 2022-2023 fiscal year is detailed below, with ranks among Pennsylvania State System of Higher Education (PASSHE) institutions, tracing the flow of goods and services throughout the economy.
Total Economic Impact
Kutztown University’s total economic impact: $356,416,862 (third in PASSHE).
Economic Impact to State Appropriations Ratio
For every dollar invested by the commonwealth to the State System, an average return of approximately $8.01 in economic impact is projected. The highest return to the commonwealth was $9.44, generated by Kutztown University.
Consists of the job opportunities that are created from the direct spending of each institution, faculty and staff, students, or direct composite spending.
- Total jobs supported by KU: 4,272 (third in PASSHE).
- Composite direct spending by KU: $284,443,259 (third in PASSHE).
KU total impact of student spending: $135,068,735 (second in PASSHE).
KU total impact of faculty and staff spending: $73,781,166 (sixth in PASSHE).
The additional jobs supported by the existence of the State System universities result in increased consumption of goods and services within Pennsylvania. Further, these jobs and corresponding consumption of goods and services will provide an additional source of revenue to the commonwealth in the form of increased sales and taxes.
Estimated Consumption from KU: $214,526,348 (third in PASSHE).
Kutztown University President, Dr. Kenneth S. Hawkinson, opened the discussion by stating the importance of pursuing higher education. “We know the many benefits that result from going to college – earnings through the course of a lifetime are significantly higher, those who graduate from college are healthier and have longer lifespans, they tend to have higher satisfaction with their jobs, and more tend to be happier with their own lives.”
Panelists for the discussion included:
- Senator Judy Schwank.
- State Representative Jamie Barton.
- House Education Committee Chair Peter Schweyer.
- Chancellor of PASSHE Dr. Daniel Greenstein.
These esteemed panelists represented a wealth of knowledge and experience, ensuring a comprehensive exploration of strategies that would further strengthen higher education across the region. The theme of the breakfast discussion revolved around the pressing need to fortify the higher education system. Panelists engaged in a productive dialogue, offering their unique perspectives and expert opinions on the matter.
“We have a system that works,” said Schwank. “It is crucial to continue to offer something for students from every background and provide Pennsylvanians with an education to support their families.”
“We need to ensure that the next generation of students have opportunities to advance themselves,” said Schweyer. “They could achieve great things if we just invest in them.”
The Kutztown University Legislative Breakfast served as an exceptional platform for collaboration and positive change in the field of higher education. The event successfully contributed to this important conversation.