Economic Report Confirms Rensselaer’s Role as a “Major Regional Enterprise”

Rensselaer is a major and growing regional enterprise that is pumping nearly half a billion dollars into the state economy annually, according to an independent analysis released by Rensselaer President Shirley Ann Jackson Aug. 5.

Gary Gold

“Rensselaer is on the move,” said Jackson. “Our campus, our community, and our state are benefiting from the great progress we are making here at Rensselaer.”

Rensselaer’s operations pumped $467 million into New York’s economy, supported more than 3,250 jobs statewide, and helped boost a wide range of activities including construction, academic research, consumer spending, entrepreneurship, and neighborhood renewal initiatives, according to the analysis by Appleseed Inc. In the Capital Region alone, the Institute poured $428 million into local businesses and financial systems, and employed more than 3,100 residents.

“Rensselaer’s investment is paying off for the Capital Region as well as the Institute,” Jackson said. “As we move forward to realize further the promise of The Rensselaer Plan, we can be confident that our work is not only changing the world, it is changing the Capital Region.”

Rensselaer’s operations pumped $467 million into New York’s economy, supported more than 3,250 jobs statewide, and helped boost a wide range of activities including construction, academic research, consumer spending, entrepreneurship, and neighborhood renewal initiatives, according to the analysis by Appleseed Inc.

The Capital Region benefits from Rensselaer’s direct spending on payroll, purchasing, and construction, from the secondary benefit of Rensselaer employees spending their salaries on housing, food, and other living expenses, and from the added benefit of companies in the region from which Rensselaer buys goods and services who spend money locally to pay their own employees and suppliers, according to Appleseed.