7 Executive summary Operations spending impact Payroll and benefits to support SUNYWCC’s day-to-day operations amounted to $94.4 million. The college’s non-pay expenditures amounted to $24.1 million. The net impact of operations spending by the college in Westchester County during the analysis year was approximately $109.6 million in added income, which is equivalent to supporting 1,363 jobs. Student spending impact Some students are residents of Westchester County who would have left the county if not for the existence of SUNYWCC. The money that these students, referred to as retained students, spent toward living expenses in Westchester County is attributable to SUNY WCC. The expenditures of retained students in the county during the analysis year added approximately $10 million in income for the Westchester County economy, which is equivalent to supporting 108 jobs. Alumni impact Over the years, students gained new skills, making them more productive workers, by studying at SUNYWCC. Today, thousands of these former students are employed in Westchester County. The accumulated impact of former students currently employed in the Westchester County workforce amounted to $466.1 million in added income for the Westchester County economy, which is equivalent to supporting 4,367 jobs. Important note When reviewing the impacts estimated in this study, it is important to note that the study reports impacts in the form of added income rather than sales. Sales includes all of the intermediary costs associated with producing goods and services, as well as money that leaks out of the region as it is spent at out-of-region businesses. Income, on the other hand, is a net measure that excludes these intermediary costs and leakages and is synonymous with gross regional product (GRP) and value added. For this reason, it is a more meaningful measure of new economic activity than sales.
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