26 Chapter 2: Economic impacts on the Westchester County economy many of these costs are already reflected in the operations impact discussed in the previous section. We multiply the $13,900 in annual costs by the 1,370 students who were retained because of SUNY WCC and lived in-county but off campus. This provides us with an estimate of their total spending. The off-campus spending of retained students generated gross sales of $19 million, as shown in the bottom row of Table 2.3. Estimating the impacts generated by the $19 million in student spending follows a procedure similar to that of the operations impact described above. We distribute the $19 million in sales to the industry sectors of the MR-SAM model, apply RPCs to reflect in-county spending, and run the net sales figures through the MR-SAMmodel to derive multiplier effects. Table 2.4 presents the results. The initial effect is purely sales-oriented and there is no change in labor or non-labor income. The impact of retained student spending thus falls entirely under the multiplier effect. The total impact of student spending is $5.4 million in labor income and $4.6 million in non-labor income. This sums together to $10 million in total added income and is equivalent to supporting 108 jobs. These values represent the direct effects created at the businesses patronized by the students, the indirect effects created by the supply chain of those businesses, and the effects of the increased spending of the household sector throughout the county economy as a result of the direct and indirect effects. Table 2.3: Average student costs and total sales generated by retained students in Westchester County, FY 2021-22 Room and board $9,700 Personal expenses $2,377 Transportation $1,823 Total expenses per student $13,900 Number of students retained 1,370 Gross retained student off-campus sales $19,038,830 Source: Student costs and wages provided by SUNYWCC. The number of retained students who lived in the county off campus while attending is derived by Lightcast from the student origin data and in-term residence data provided by SUNY WCC. The data are based on credit students. Table 2.4: Student spending impact, FY 2021-22 Labor income (thousands) Non-labor income (thousands) Total income (thousands) Sales (thousands) Jobs supported Initial effect $0 $0 $0 $19,039 0 Multiplier effect Direct effect $3,254 $2,764 $6,019 $10,533 65 Indirect effect $975 $825 $1,800 $3,269 21 Induced effect $1,128 $1,029 $2,157 $3,759 22 Total multiplier effect $5,358 $4,618 $9,976 $17,562 108 Total impact (initial + multiplier) $5,358 $4,618 $9,976 $36,601 108 Source: Lightcast impact model.
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