A study released by the CCIC reveals independent colleges are vital to the state’s economy
New England Council member, Connecticut Conference of Independent Colleges (CCIC), recently released a complete study looking at the economic impact of its fourteen non-profit independent colleges and universities. Colleges and universities under the CCIC have 50% of all undergraduate college students and 68% of all graduate students at 4-year and above public and private institutions in Connecticut, enrolling 85,000 students statewide.
The study found that CCIC member institutions generate $19.3 billion annually for the Connecticut economy, directly supporting the region’s workforce and local industries, and strengthening economic activity in the state. Approximately $11.8 billion of that total stems from university purchases, direct spending from employees, students, and visitors, and capital expenditures.
“The non-profit independent higher education sector is a key driver in Connecticut’s economy,” said Jennifer Widness, President of the CCIC. “Collectively, our member institutions are economic engines in this state, serving as magnets attracting students and their families, alumni and tourists that all spend money locally yet use minimal municipal services.”
The New England Council commends the CCIC’s continued efforts to advance higher education and economic growth in Connecticut.
Read more in CCIC’s press release.