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Study: Iona College Pumps $284.4 Million Into Region's Economy

January 25, 2019

 

You don’t need an economics degree to know that Iona College is a big-time contributor to the regional economy. A new study by the Albany-based Commission on Independent Colleges and Universities says that Iona pumped $284.4 million to the economy in 2017, a $26 million increase from the previous year. The study also said Iona was responsible for the creation of 1,930 (930 are directly employed by the College).  

 

Iona's New Rochelle campus has undergone recent improvements that include new residence halls, and a business school. 

 

The Commission's study looked at New York State’s more than 100-plus private, not-for-profit colleges and universities and found that Iona's presence translated into significant community investment:

  • $104.3 million direct spending;

  • $36.5 million in student and visitor spending;

  • $16.9 million in construction spending; and

  • contributed $7.8 million in local income and sales taxes.

It’s clearly an exciting time for Iona – its creating jobs while simultaneously training the future workforce.

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