City College of New York's Economic Impact Nears $4 Billion

The City College of New York (CCNY) generated a significant economic impact of nearly $4 billion in the New York region during fiscal year 2023-24, according to a recent study by labor analytics firm Lightcast. The report places the total economic contribution at $3.7 billion.

The study found that investments in CCNY and its operations generated $3.4 billion in gross regional product. Furthermore, the institution plays a vital role in workforce development, with its alumni earning an estimated $2.9 billion annually, many of whom continue their careers within the New York area.

Lightcast's analysis indicates that CCNY's activities support a total of 39,664 jobs in the region, representing 3.7% of the total workforce. These jobs are created both directly through the college's own employment and indirectly through its ripple effect on the broader economy and labor market.

The findings underscore CCNY's position as a major economic driver and a crucial source of skilled talent for the New York metropolitan area, highlighting its contribution to economic growth and employment.