Cornell University’s Investment in Local Education Fuels Economic Growth
Cornell’s investment in local education anchors a broader economic story
Cornell Chronicle
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Cornell University in Ithaca, New York, has invested $9.5 million in need-based scholarships for local students, fostering educational pathways in STEM fields. This commitment, alongside its economic contributions, positions Cornell as a vital economic engine for Tompkins County, supporting over 11,000 jobs and contributing significantly to local services and infrastructure.
- 01Cornell University provided $9.5 million in scholarships and grants to Tompkins County students in fiscal year 2025.
- 02The university's total payroll amounts to $1.36 billion, making it the largest employer in Tompkins County.
- 03Cornell's local spending includes $452 million by students on living expenses and $206 million on goods and services from local vendors.
- 04The Upward Bound program at Cornell supports 130 students from rural districts with precollege preparation.
- 05Cornell's entrepreneurial initiatives raised $34 million in capital, creating 132 new local jobs in the past year.
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Cornell University, located in Ithaca, New York, plays a crucial role in the local economy and education system. In its recent Local Economic Snapshot, Cornell reported directing $9.5 million in need-based scholarships and grants to students from Tompkins County, highlighting its commitment to fostering educational opportunities, particularly in STEM fields through programs like the Science and Technology Entry Program (STEP). Beyond educational investments, Cornell is the largest employer in the region, supporting over 11,000 full-time jobs with a payroll of $1.36 billion. The university's students contribute significantly to the local economy, spending $452 million on housing and services. Furthermore, Cornell's local purchasing amounted to $206 million, while its construction spending reached $115 million. Community support initiatives include the Upward Bound program, which assists 130 students from rural districts. Overall, Cornell's comprehensive contributions underscore its vital role in both educational and economic landscapes, fostering long-term growth and development in Tompkins County.
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Cornell's educational and economic investments significantly enhance opportunities for local students and stimulate the regional economy.
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