32 Chapter 2: Economic impacts on the Westchester County economy The total economic impact of SUNYWCC on Westchester County can be generalized into two broad types of impacts. First, on an annual basis, SUNY WCC generates a flow of spending that has a significant impact on the county economy. The impacts of this spending are captured by the operations and student spending impacts. While not insignificant, these impacts do not capture the true purpose of SUNY WCC. The basic mission of SUNY WCC is to foster human capital. Every year, a new cohort of former SUNY WCC students adds to the stock of human capital in the county, and a portion of alumni continues to add to the county economy. Table 2.7 displays the grand total impacts of SUNY WCC on the Westchester County economy in FY 2021-22. For context, the percentages of SUNY WCC compared to the total labor income, total non-labor income, combined total income, sales, and jobs in Westchester County, as presented in Table 1.3 and Figure 1.3, are included. The total added value of SUNY WCC is $585.6 million, equivalent to 0.6% of the GRP of Westchester County. By comparison, this contribution that the college provides on its own is as large as nearly a third of the entire Transportation & Warehousing industry in the county. SUNY WCC’s total impact supported 5,837 jobs in FY 2021-22. Total SUNY WCC impact Table 2.7: Total SUNY WCC impact, FY 2021-22 Labor income (thousands) Non-labor income (thousands) Total income (thousands) Sales (thousands) Jobs supported Operations spending $103,508 $6,062 $109,570 $139,047 1,363 Student spending $5,358 $4,618 $9,976 $36,601 108 Alumni $320,052 $146,007 $466,059 $949,086 4,367 Total impact $428,918 $156,687 $585,605 $1,124,734 5,837 % of the Westchester County economy 0.7% 0.4% 0.6% 0.6% 0.9% Source: Lightcast impact model.
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