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Colleges a Boon for Region's Economy

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Colleges a Boon for Region's Economy E1 Colleges a boon for region’s economy By Bill O’Boyle [email protected] WILKES-BARRE — Wico Van Genderen, presi- University, said she ran a dent/CEO of the Greater Wilkes-Barre Chamber of high-level model of eco- Commerce, said there is a “collegiate energy” in nomic impact based on the Luzerne County that now extends from downtown number of employees at Wilkes-Barre to the Back Mountain and beyond. Wilkes, Kings, Misericordia, “The alignment of business and academics makes LCCC, and PSU/WB. She for a great local economic ecosystem,” Van Genderen said since it is based only said. “Wilkes, Kings, Misericordia, Penn State/Wil- on current employment and kes-Barre, and Luzerne County Community College doesn’t include student and have all expanded their programs and their facilities, visitor spending, it is a very resulting in more students and deeper specializa- conservative estimate of the tions.” economic impact in Luzerne Van Genderen said Wilkes and Kings have seen County. the largest increases in incoming undergraduate “Luzerne County has a and graduate students, resulting in new downtown number of higher education investments and a regional “college-town” vibe. institutions which contrib- Strong academic capital provides a great ecosys- ute so much to the region,” tem for STEM-based innovation, research, entrepre- Ooms said. “First, they sup- neurial creativity and business activity — not just in port economic development higher education, but in critical specialty trades as activities since they have Aimee Dilger | Times Leader well, Van Genderen said. the capacity to provide a Teri Ooms, executive director of The Institute for Public Policy and Economic Development at “With high demand for graduates of LCCC’s weld- trained and skilled work- Wilkes University, speaks at the recent Lackawanna and Luzerne Regional Indicators Forum at ing, automotive and additive manufacturing pro- force. Workforce is the pri- Mohegan Sun Pocono. grams, there’s now a waiting list to enroll at LCCC’s mary driver determining if a important role is providing the area with a workforce Technology Center,” he said. “Add academic capital, business will locate in a region.” that is well-equipped to handle their jobs. business innovation, and community leadership and Ooms said from the community college programs “There’s nothing more important than an appropri- you have a strong synergy in which the whole is to the professional degree programs, higher educa- ately educated workforce,” Durkin said. “Education is greater than the sum of its parts.” tion creates the workforce pipeline in Luzerne and an absolute necessity.” Van Genderen said by connecting the academic Lackawanna counties. According to a study done by the Association of capital of the colleges and universities to the growing “Equally important and mostly overlooked, higher Independent Colleges & Universities of Pennsylva- and diverse businesses and to the community’s social education is an economic driver in and of itself,” nia, private colleges and universities play a major role sector, you create “a fertile Petrie dish” producing Ooms said. “The institutions are criticized for being in the state’s economy: sustainable economic momentum. nonprofits, i.e. exempt from property taxes, but their • $5.67 billion — Salaries and wages paid to Teri Ooms, executive director of the Institute for economic impact supports our communities in so employees, making private colleges and universities Public Policy & Economic Development at Wilkes many different ways.” the fourth largest industry employer in PA. Ooms said the colleges and universities are major • $9.6 billion — Institutional expenditures. employers with family-sustaining jobs. She said • $1.8 billion — Student and visitor spending employees reinvest their earnings in the region ($1.7 billion in student spending, $155 million in through purchasing local goods and services. And the visitor spending). schools themselves buy local goods and services. • $1.1 billion — Value of federal funds received for “Further, there is impact of student spending and research and development projects. additional spending when their families and friends • $945 million — Construction and renovation come to visit,” Ooms said. “Finally, their capital proj- projects. ects create short-term economic boosts through con- • $167 million — State payroll taxes. struction. All in all, their collective annual economic • $136 million — Municipal taxes (wages and impact — not including student and visitor spending local services taxes). — is about $421 million annually, and they employ • $17.9 billion — Total economic impact of private about 2,000 individuals.” college and universities in Pennsylvania. According to Bob Durkin, president and CEO of Another study done by the Association of Inde- the Greater Scranton Chamber of Commerce, the pendent Colleges and Universities of Pennsylvania local educational facilities play an important part in — The Economic Impact of Independent Higher the economy of not just the Scranton area, but that of Education in Pennsylvania — revealed that the nearly Lackawanna and Luzerne counties. 290,000 students enrolled at independent colleges “All the colleges and universities have an impact and universities in Pennsylvania spend $1 billion on Lackawanna and Luzerne counties,” Durkin said. Sean McKeag | Times Leader annually, or $2.7 million a day at local Pennsylvania “And it’s very positive.” Wico Van Genderen, president and CEO of the Greater Wilkes-Barre businesses. The total economic impact of this spend- Durkin said the educational institutions’ most Chamber of Commerce. ing is $1.7 billion. E2 2 Sunday, December 31, 2017 PRESIDENTIAL FILES Times Leader Index of College Presidents Page 3 KING’S COLLEGE - Rev. John Ryan Page 4 LUZERNE COUNTY COMMUNITY COLLEGE - Thomas P. Leary Page 5 MISERICORDIA UNIVERSITY - Thomas Botzman Page 6 PENN STATE HAZLETON - Dr. Gary Lawler Page 7 PENN STATE WILKES-BARRE - Vernon Dale Jones Page 8 SCHOOL OF PRACTICAL NURSING AND HEALTH CARE - Mary Beth Pacuska Page 9 WILKES UNIVERSITY - Dr. Patrick F. Leahy Page 10 CLARKS SUMMIT UNIVERSITY - Jim Lytle Page 11 GEISINGER COMMONWEALTH SCHOOL OF MEDICINE - Steven J. Scheinman, MD Page 12 JOHNSON COLLEGE - Dr. Ann L. Pipinski Page 13 KEYSTONE COLLEGE - Dr. David L. Coppola Page 14 LACKAWANNA COLLEGE - Mark Volk Page 15 MARYWOOD UNIVERSITY - Sister Mary Persico Page 16 PENN STATE WORTHINGTON - Dr. Marwan A. Wafa Page 19 UNIVERSITY OF SCRANTON - Rev. Herbert Keller, S.J. 3 tips to fi nding the right graduate program Graduate school allows college graduates the Current students and recent graduates can provide While many people enroll in graduate programs chance to intensify their studies as they pursue a unique perspective that prospective grad students to improve their earning potential, some students advanced degrees. Many professions require won’t get from brochures or online research, no mat- may not enjoy that benefi t. The cost of grad school advanced degrees, but students may enroll in gradu- ter how exhaustive that research might be. Encour- varies depending on the school and the program, but ate school for various reasons, including their own age students and recent grads to be candid, asking prospective grad students may want to change their intellectual curiosity and the chance to improve their them about their experiences as grad students and, plans if the cost of obtaining an advanced degree earning potential. for recent grads, how they fared in the job market will greatly affect their fi nancial freedom for years to Choosing a graduate program is an important deci- after earning their degrees. Don’t discount the latter, come. Students worried about their post-grad school sion that can impact students’ career prospects and as grad school is an investment of time, energy and earning potential may want to choose less expensive fi nancial futures. According to Peterson’s Real Guide money, and that should lead to professional fulfi ll- programs so they can still pursue their degrees with- to Colleges and Universities, the average annual ment upon graduating. out mortgaging their fi nancial futures. tuition for a graduate program at a public univer- Graduate school requires a substantial investment sity is $30,000, while graduate students at private of time, energy and money. Prospective grad students universities can expect to pay nearly $40,000 each 3. Be realistic about your should do everything possible to ensure they invest year. Such fi gures illustrate just how important it is in the grad school that best suits their particular for prospective graduate students to fi nd the right fi nances. needs. schools for them. 1. Conduct exhaustive research. Because the cost of graduate school is so substantial, students should be extra diligent when researching potential grad schools. Gather as much information about each school as possible, even con- tacting department heads and/or profes- sors to learn if a given program is best for you. Graduate programs tend to be spe- cialized, so make sure each school you’re considering offers exactly what you’re seeking. For example, graduate programs in history may specialize in a particular period of history. As a result, students who want to pursue graduate degrees in history must fi nd the program that allows them to study the period that most inter- ests them. Finding such programs requires extensive research, so students must afford themselves ample time. 2. Speak to current students and recent graduates.
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