Making an Impact
Fairleigh Dickinson University has a long tradition of inspiring students and transforming lives. While we provide a rich landscape of global learning opportunities, we are extensively proud of our New Jersey roots. The growth and prosperity of our institution and our host towns are inextricably linked, and FDU is committed to enhancing the health and welfare of vibrant communities.
The University injects millions of dollars into the economy of our host towns through direct spending and indirect expenditures based on the University’s operation. In Hackensack and Teaneck, our Metropolitan Campus community generates nearly $20 million in economic activity each year. In Florham Park and Madison, the Florham Campus community has a $14.5-million annual impact on the local economy.
In this brief report, you can see the extent of our economic impact on our communities. But our impact is not limited to dollars and cents. Fairleigh Dickinson University offers our local towns great educational benefits and many community services.
In addition, FDU directly supports many community efforts. FDU made significant voluntary contributions to the police, fire, and emergency service units in Florham Park, Hackensack, Madison, and Teaneck. Our acclaimed Henry P. Becton School of Nursing and Allied Health has partnerships with both Holy Name Medical Center in Teaneck and Hackensack University Medical Center. Academic scholarships have been created for high school graduates from each of our four host towns. Many students, faculty, and staff are engaged in community-wide initiatives and volunteer on behalf of community-wide causes.
Fairleigh Dickinson University is part of the fabric of our host communities. We are pleased that our activities generate positive economic benefits for our region, and we promise to continue to provide as many educational and social benefits as possible for the towns we call home.
Annual Economic Impact of Metropolitan Campus for Teaneck and Hackensack
Annual economic impact refers to measurable contributions to the cash flow of the local economy that are attributable to the institution. In the case of higher-education institutions, the measurable contributions come from spending by the institution, the employees and the students.
During fiscal year 2009, the Metropolitan Campus spent $3,595,192 in Teaneck and Hackensack for various goods and services.
Out of 647 full-time employees, 74 lived locally in Teaneck and Hackensack. Out of 531 part-time employees, 50 lived locally. Together, they earned a net income of $3,119,188.
Total local expenditures by employees amounted to $2,582,033.
Direct local expenses ascribed to students were $13,161,000.
Total direct expenditures by the college, the employees and the students amounted to $19,338,225.
Spending creates jobs. And the spending of $19,338,225 would yield an additional 193 jobs in the local area.
Annual Economic Impact of Florham Campus for Madison and Florham Park
Annual economic impact refers to measurable contributions to the cash flow of the local economy that are attributable to the institution. In the case of higher-education institutions, the measurable contributions come from spending by the institution, the employees, and the students.
During fiscal year 2009, the Florham Campus spent $4,913,903 in Madison and Florham Park for various goods and services.
Out of 332 full-time employees, 34 lived locally in Madison and Florham Park. Out of 270 part-time employees, 22 lived locally. Together, they earned a net income of $1,191,133.
Total local expenditures by employees amounted to $1,066,497.
Direct local expenses ascribed to students were $8,602,900.
Total direct expenditures by the college, the employees and the students amounted to $14,583,300.
Spending creates jobs. And the spending of $14,583,300 would yield an additional 146 jobs in the local area.
The data was compiled and prepared by FDU’s Office of Institutional Research and Assessment
John Caffrey and Herbert H. Isaacs, 1971, Estimating the Impact of a College or University on the Local Economy, Washington, D.C.: American Council on Higher Education. College Outcomes Evaluation Program (COEP), 1990, Handbook for Calculating Short-Term Economic Impact at New Jersey’s Institutions of Higher Education, Trenton, New Jersey Department of Higher Education.