Farmingdale State College's Economic Impact on Long Island and Beyond, 2009 - 2017
Farmingdale State College is critical to the regional economy, providing the education and hands-on training for the future workforce, and developing the academic curriculum that prepares students to meet industry needs. The college also conducts research in many timely areas - from sustainable energy to cutting-edge law enforcement techniques - producing results that create jobs and economic prosperity.
One of the end results of all this is the significant effect the College has on the regional economy. Farmingdale's total impact on the Long Island regional economy from 2009 – 2017 was $2.51 billion, says the Long Island Association in its new research report,* "Solving the Brain Drain: The Regional Impact of Farmingdale State College."
In its exhaustive study of the College's economic impact on the region, the LIA investigated areas such as State's return on money invested in the College; number of jobs created; the impact of Farmingdale's emphasis on "Applied Learning" – education that offers real-world experience; and the dramatic growth in enrollment during the nine-year time period covered by the report.
Among the highlights of the study:
• Farmingdale State College's total impact on the Long Island regional economy from 2009-2017 was $2.51 billion.
• Farmingdale returned five times in economic output for every dollar New York State invested in the College during this period.
• Farmingdale created nearly 20,000 jobs in a broad range of local industries.
• Farmingdale directly influences the workforce needs of local businesses through its emphases on the applied sciences and technology.
• Farmingdale's four schools – Arts and Sciences, Engineering Technology, Health Sciences, and Business – enroll more than 9,600 undergraduate and graduate students. (Farmingdale ranks 12th nationally in percentage of enrollment growth over the past 10 years, according to an analysis conducted by The Chronicle of Higher Education.)
Partnerships with industry leaders such as Tesla, National Grid, Henry Schein, and D3LLC have propelled Farmingdale into a leading role in economic development. Farmingdale State students are engaged in a variety of internships, clinical, and guided research activities. In addition, Farmingdale students are largely recruited from the Long Island region and tend to stay, live, and gain employment on Long Island.
To view the full study, please visit: Impact Report
*The report was prepared by John A. Rizzo, PhD, Chief Economist of the Long Island Association. It is one of a series of special research reports by the Long Island Association, focusing on issues of regional significance.