The Office of Economic Development provides a link between the researcher and industry. The Office sustains institutional participation in the region's principal business organizations, works closely with State and municipal economic development agencies, fosters efforts to promote industry-university collaboration, especially in entrepreneurial ventures, and among participants in the University's incubation programs. It is also the office that manages the publications of the OVPR, such as the Monday Memo. We encourage researchers to contact this office to let us know the highlights regarding your research.
The Office is directed by Ann-Marie Scheidt.
Stony Brook University's Economic Impact
Stony Brook University is a crucial and irreplaceable asset to the Long Island economy. The University, Long Island’s largest single-site employer, provides nearly 14,000 men and women with full- or part-time jobs. As Long Island’s only public research university, Stony Brook produces the educated workforce that drives the area’s high-tech economy.
The entire report is available as a PDF.
- The total operating budget for 2007-2008 is $1.77 billion. Direct state tax support accounts for $207.2 million, or 11.7 percent of the total (not including $147.8 million in
fringe benefits, which brings the state share up to almost 20 percent).
- The average salary of employees at Stony Brook is $76,010. This compares with a regional average salary in all industries of $47,913.
- Stony Brook economic development programs bring an additional $59.4 million in economic revenue to the Long Island region (not including federal, state, and other revenue included
in the operating budget).
- Students and their families spend an additional $175.6 million in the Long Island economy not captured in the operating budget. When this is added to the $2.9 million spent by
University student government—a non-operating budget item— this translates into an additional 2,588 local jobs.
- Retired Stony Brook employees living on Long Island receive approximately $97.3 million in income from state pension payments and Social Security. This translates into an estimated
1,421 local jobs.
- In 2007-2008 Stony Brook operating expenditures (wages and salaries plus utilities, minus estimated employee expenditures for health care) are estimated to be $929.1 million. The
multiplier effect, or secondary impact, of Stony Brook operating expenditures, as determined by the Regional Input-Output Modeling System (RIMS II) developed by the Bureau of Economic
Analysis of the U.S. Department of Commerce, generates an estimated $1.73 billion in increased economic output to the regional economy and 28,989 additional jobs.
- In 2007-2008 Stony Brook employees will spend an estimated $61.7 million on health care. The multiplier effect, or secondary impact, of employee health care expenditures generates
an estimated $123.6 million in additional economic output to the regional economy and 2,308 additional jobs.
- In 2007-2008 Stony Brook expenditures on construction that do not appear in the operating budget are estimated to be $152.3 million. An estimated $91.4 million, or 60 percent, of
construction spending stays within the Long Island economy. The multiplier effect, or secondary impact, of construction spending generates an estimated $177.9 million in additional
economic output to the regional economy and 2,431 additional jobs.
- In 2007-2008 it is estimated that Stony Brook will spend $802.9 million on equipment and supplies. An estimated $200.7 million, or 25 percent, of equipment and supplies
expenditures stays within the Long Island economy. The multiplier effect, or secondary impact, of spending on equipment and supplies generates an estimated $372.7 million in additional
economic output to the regional economy and 9,113 additional jobs.
- In total, Stony Brook University’s impact on the Long Island economy amounts to $4.65 billion in increased output, or gross regional domestic product, and 59,859 jobs.
- The economic impact of Stony Brook University accounts for almost 4 percent of all economic activity in the Nassau/Suffolk counties region, and roughly 7.5 percent of total jobs in
Suffolk County.
- The regional economy receives $4.7 billion from the state’s direct investment of $207.2 million in tax dollars. This represents a 2,300 percent return, or an economic gain of $23
for every dollar the state invests.
Office of Economic Development
S5421 Frank Melville Jr. Memorial Library,
Stony Brook, NY 11794-3364
Tel: (631) 632-7006
Fax: (631) 632-5704
