Econsult Solutions, Inc. (ESI) was retained by Rowan University in Glassboro, N.J. to perform a study that determined the economic impact of the university to the state of New Jersey.
The study, entitled “The Rise of Rowan University as a Regional and Statewide Economic Engine,” used established input-output economic models that considered Rowan’s $440 million operating budget the university’s main economic driver.
ESI’s study determined that Rowan has an annual statewide $1.23 billion economic impact that supports roughly 9,200 jobs statewide and generates $19 million in state taxes.
The study also found that Rowan’s budget creates a ripple effect of $900 million, more than twice the $440 million face amount, supports 6,400 jobs and generates $11 million in state tax revenue.