6 Executive summary During the analysis year, SUNY WCC spent $94.4 million on payroll and benefits for 1,264 full-time and part-time employees, and spent another $24.1 million on goods and services to carry out its day-to-day operations. This initial round of spending creates more spending across other businesses throughout the county economy, resulting in the commonly referred to multiplier effects. This analysis estimates the net economic impact of SUNYWCC that directly accounts for the fact that state and local dollars spent on SUNY WCC could have been spent elsewhere in the county if not directed towards SUNY WCC and would have created impacts regardless. We account for this by estimating the impacts that would have been created from the alternative spending and subtracting the alternative impacts from the spending impacts of SUNY WCC. This analysis shows that in fiscal year (FY) 2021-22, operations and student spending of SUNYWCC, together with the enhanced productivity of its alumni, generated $585.6 million in added income for the Westchester County economy. The additional income of $585.6 million created by SUNY WCC is equal to approximately 0.6% of the total gross regional product (GRP) of Westchester County. For perspective, this impact from the college is as large as nearly a third of the entire Transportation & Warehousing industry in the county. The impact of $585.6 million is equivalent to supporting 5,837 jobs. These economic impacts break down as follows: The additional income of $585.6 million created by SUNY WCC is equal to approximately 0.6% of the total gross regional product of Westchester County. Economic impact analysis WES TCHES T ER COUNTY, NEW YORK
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