Economic impact report details TCNJ’s contributions to the state and county

A recent report states that The College of New Jersey and its four sister institutions in Mercer County have directly generated “hundreds of millions of dollars in wages and thousands of jobs” in the county and state.

TCNJ, along with Rider University, Princeton University, Mercer County Community College, and Thomas Edison State College, contributed over $1.2 billion in direct spending to the state’s economy during Fiscal Year (FY) 2005. Nearly $2 billion in total spending was generated in the state as a result of those initial institutional expenditures, the report states.

As a group, the five schools rank as one of Mercer’s leading employers, accounting for 5.7 percent of all non-governmental jobs in the county. In FY 2005 the group generated almost 13,000 jobs—more than 7,700 of them right here in Mercer County.

The report points out that most of the institutions’ funding comes from tuition, professional fees, private donations, and grants—not taxpayer money. “On average, only 6.5 cents of every dollar spent by the five institutions was provided by the State of New Jersey in Fiscal Year 2005….[However, for] each dollar in financial support by the state… the five Mercer institutions generated $24 in total spending (economic activity) and $10 in wages throughout the state’s economy,” the report states.

Also highlighted were the community outreach efforts that benefit the area, but can’t be quantified by dollars and cents. For instance, TCNJ’s Small Business Development Center works with area businesses to foster economic development in the area. The College also houses a Municipal Land Use Center that assists towns and governments agencies with issues like physical development, traffic, and waterway management.

Through its service-learning requirement, TCNJ contributes roughly 20,000 hours of community service per year. The College’s Bonner Center for Civic and Community Engagement also conducts training and programming for local non-profits.

In addition, the report mentioned the cultural programming events the College offers to area residents, such as the ongoing Religion, Culture, and Identity events currently underway.

The report was completed by The Roper Group, in association with A. Ilan Consulting, with assitance by T. J Spitznas & Associates.