The College of the Holy Cross engaged ESI to analyze the economic and social impact of the College in the City of Worcester, the State of Massachusetts and nationally. As a Jesuit, Catholic liberal arts college, Holy Cross sought to better understand how its footprint and local volunteer efforts helped drive economic growth in Worcester.
ESI found that the College’s total annual economic impact is $313 million within the City of Worcester – supporting 1,560 jobs. At the state-level, the College’s impact is $866 million. Included in this economic impact is the University’s operations and capital investments; additional spending by students, visitors, and event attendees; and increased household income earned by graduates. At the national level, the College supports an impact greater than $2 billion.
Holy Cross is committed to being an active part of the local Worcester community that it calls home – calling students to serve and volunteer at scale. An analysis of available volunteer data showed that Holy Cross supports approximately 50,000 volunteer hours over the course of an academic year, with many of those hours served within local Worcester schools.
For many Holy Cross alumni, this call to service continues after graduation. The College’s graduates go on to be leaders across a variety of industries critical to the success of the broader economy, and many go on to take positions within civically oriented positions in public education, public health, and public service.