NYSUNY 2020 Impact
Job Creation and Economic Growth
The University’s overall NYSUNY 2020 initiative will create 735 new permanent jobs, along with 1,587 new construction jobs, significantly building the University’s academic and research enterprise and growing the greater Capital Region economy. Already, seven corporations and private spin‐off companies have expressed interest in co‐locating, collaborating and contracting with researchers at the R&D center, further adding to job growth projections.
Private and Federal Research Funding
Under UAlbany’s NYSUNY 2020 initiative, faculty and researcher hires across the University-wide strategic initiatives will add $117 million in cumulative research expenditures to an already substantial portfolio. By year five, 187 new faculty researchers alone will generate more than $43 million annually in additional research expenditures. With a significant investment in new researchers and support staff, NYSUNY 2020 will be the cornerstone to one of the largest hubs for innovation and R&D in the nation.
In addition to the job creation and research expenditure projections, UAlbany will enroll more than 1,350 new undergraduate and graduate students, increasing access and preparing more students to become members of a highly educated, globally competitive workforce. All students at the University will benefit from the increased number of faculty and staff, expanded course and research offerings, and a reduced student‐faculty ratio. The University’s enrollment growth plan also ensures affordability through $5.2 million in enacted TAP eligibility aid, as well as $2.5 million in increased student aid.
Overall, our NYSUNY 2020 initiative will generate over $1.8 billion in economic impact throughout the greater Capital Region - a return of over 50 times the investment of the NYSUNY 2020 Challenge Grant.
The University’s economic impact was derived by using the widely accepted Regional Industrial Multiplier System (RIMS II) from the Federal Bureau of Economic Analysis.