$408 Million Dollar Annual Economic Impact Due to Union College of Union County, NJ
Cranford, NJ – Lightcast, a firm that provides labor market analytics, has released a study on the annual economic impact of Union College of Union County, NJ on the County. The results revealed a positive impact on the regional economy in large part through the College’s ability to enhance graduates’ careers with increased job opportunities and higher incomes.
Among the most noteworthy impacts of the College on the Community include the following:
- Union College produced a total economic impact of $408.6 million in added income in Union County last year.
- The College produced increased earnings from alumni of nearly $347 million last year.
- Residents of the County who complete an associate degree earn an average of $48,900 per year – which is approximately $11,000 more than a high school graduate in Union County earns.
- One out of every 71 jobs in Union County is supported by the College and its students.
“This economic impact study affirms that an investment in the College benefits all of Union County. As a result of graduating from the College, our community reaps the benefits of a more educated and skilled workforce. This also helps increase the economic standing of individual families and our County as a whole because those who can better provide for themselves result in decreased need for government-supported social services. Our community is fortunate to have access to an affordable, high-quality education at the College. The data shows their education here leads to increased lifetime earnings and improved quality of life,” said the College’s Board of Trustees Chairman Victor M. Richel.
Union College of Union County, New Jersey is a public, comprehensive community college that provides quality, affordable, accessible educational programs to the greater Union County region. It is the first of New Jersey’s 18 two-year colleges, serving both career-minded and transfer-oriented students since 1933. The College offers a wide variety of academic and extracurricular activities. Union provides many experiential learning opportunities such as access to a Bloomberg Business Center, Innovation Center, and Student Research hub. Additionally, students at Union attend one of the top 25 community colleges in the country for 2023 as designated by the Aspen Institute College Excellence Program. To learn more, visit www.ucc.edu. You can read more about Union’s Economic Impact Study findings at https://www.ucc.edu/administration/institutional-research/.