Princeton and the Economy

Princeton University is committed to ensuring the success of the greater Princeton community and the State of New Jersey. Princeton contributes significantly to the overall economic growth of New Jersey, the quality of life in the region, and provides opportunities for research and discussion on policy issues facing the State and the region.

Economic Impact Reports

Cover of Economic Impact of Princeton University summary brochure featuring prosperity, achievement, discovery, progress, opportunity, exploration and engagementEducation, Innovation, Opportunity: The Economic Impact of Princeton University, 2016

This report, prepared by Appleseed Inc for Princeton University, concluded that Princeton University has a substantial impact on the New Jersey economy, generating an annual total of $1.58 billion in economic output as an employer, research and innovation leader, sponsor of construction projects, purchaser of goods and services, and financial and civic contributor to local communities. That total supports an estimated 13,450 jobs with $970.7 million in earnings.

 

 

 

 

 

 

Partners for Prosperity: NJ and Higher Education (pdf), 2012

This report, prepared for the New Jersey President’s Council, highlights the multiple ways in which New Jersey’s colleges and universities are contributing to the state’s economic vitality as they educate nearly 600,000 students each year. It is based primarily on data collected from the member institutions of the Council – a 53-member board, created in 1994 by the New Jersey state legislature that represents county, state, independent and proprietary colleges and universities.

AICUNJ Report 2010Education, Innovation, and Service: The Economic Impact of New Jersey’s Independent Colleges and Universities on the State of New Jersey (pdf), 2010

New Jersey's 14 independent colleges and universities, which contribute $4.9 billion to New Jersey's economy, were identified as a key sector to lead the State out of its financial woes and steer the next round of economic growth according to an independent report prepared by Appleseed and released by the Association of Independent Colleges and Universities in New Jersey (AICUNJ.)

 

 

 

 

 

2008 Economic Impact ReportEducation and Innovation, Enterprise and Engagement: The Impact of Princeton University (pdf), 2008

Princeton University engaged the services of Appleseed, an independent based consulting firm with extensive experience in economic and community impact analysis, to prepare a report on the economic impact of Princeton University on its neighboring communities, Mercer County and the state of New Jersey. It is the first time the University commissioned a comprehensive study to assess its direct and indirect financial impacts across the state.

 

 

 

Princeton Economic Impact Report 2007State, County, and Local Economic Impact of Princeton University (pdf), 2007

In 2006–07, Princeton participated in a regional economic impact study with the four other colleges and universities in Mercer County.  The Roper Group, in association with A. Ilan Consulting and assisted by T. J. Spitznas & Associates, provided an analysis of the economic impact of Mercer County Community College, Princeton University, Rider University, The College of New Jersey, and Thomas Edison State College. This  analysis is excerpted from the Roper study and augmented by other statistics compiled by Princeton.

 

 

 

Mercer County Higher Ed Report 2007The State and County Economic Impacts of Higher Education in Mercer County (pdf), 2007

The five Mercer County higher education institutions participating in the study (the institutions) are major contributors to the economies of Mercer County and the State of New Jersey. The operations of these institutions, including Mercer County Community College (MCCC), Princeton University (PU), Rider University (RU), The College of New Jersey (TCNJ), and Thomas Edison State College (TESC) directly generate hundreds of millions of dollars in wages and thousands of jobs in Mercer County and New Jersey each year. Most of this impact occurs within Mercer County. The five academic institutions also play a critical supportive role in the daily life of their local communities and serve as significant partners in the economic development of Mercer County.