ALBANY — The State University of New York generates $35.5 billion in annual economic impact for New York State, according to a new report released by the Rockefeller Institute of Government.

SUNY Chancellor John King Jr. and Rockefeller Institute President Bob Megna highlighted the findings, which draw on data from the 2023-24 academic year.

The report states that SUNY supports nearly 160,000 jobs across the state and that more than 70 percent of alumni remain employed in New York five years after graduation.

“A thriving and successful SUNY system helps ensure a strong and prosperous New York, and this report further demonstrates that fact,” King said in a statement.  The analysis found that one in four New Yorkers with a postsecondary degree earned at least one degree from a SUNY campus. More than half of New Yorkers with an associate degree graduated from a SUNY school.

For every dollar invested in its operations, SUNY generates $7.38 in economic activity, the report found. “While SUNY is known for its educational mission, its economic impact on the state is significant,” Megna said. “This report, which builds on prior analyses of the SUNY system, aims to capture and distill this impact.”

The report also points to SUNY’s growing research presence, with research and development expenditures rising from $1.1 billion in 2012 to $1.65 billion in 2022. In 2024, the system reported 249 invention disclosures, 284 patent applications and 86 patents awarded.

“This report reinforces that SUNY helps move New York State forward, and we will work with state leaders so that every New York student has access to the high-quality, affordable education they deserve and that will prepare them for life after graduation,” the SUNY Board of Trustees said in a statement.


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