Stockton's Economic Impact is $442 Million, Report Shows

has an economic impact of $442 million, according to the school’s first Economic Impact study in seven years, the school reported on Thursday, July 12.

The Economic Impact Report, Fiscal Year 2011 shows that the college invested nearly $33 million in capital improvements, both in and out of the state. This includes the Housing V project, which provides environmentally friendly student housing, as well as the new In state investments totaled $31,875,437.91.

The college also purchased $21 million in a variety of goods and services, both in and out of state. This ranges from $82,831 in office supplies to $4.5 million in utility expenses.  In-state expenses totaled $12,327,380.82.

The findings of the report were announced one day after the college announced a 3 percent for the 2012-13 academic year. State funding to the school remained flat for the year, and decisions about management salaries, including that of Stockton President Herman J. Saatkamp, will take place this fall.

The report released on Thursday, focuses on direct spending, which includes the already mentioned purchases, wages and expenditures by Stockton students; volunteer services; alumni earnings contribution to the economy; and job creation.

Stockton doubled its economic impact since its 2005 report, according to the school.

“In addition to its role as an educational hub and cultural driver of the region, Stockton is a strong economic engine,” Saatkamp said.  “We knew this prior to the start of this study. The results, however, show a much larger impact than we anticipated.”

The report shows Stockton created 4,577 jobs since the last report.

Wages and benefits from the college totaled $80,815,557 to 2,403 employees, including: 1,039 full-time employees; 57 part-time employees; 286 adjunct employees; 379 temporary employees and 642 student workers.

These statistics are according to data from Stockton’s BANNER financial data management system and collected by the school’s Office of Human Resources, according to Stockton.

Just over 61 percent of the school’s full and part time employees come from Atlantic County, with a total of 1,185 residents working for the school. Atlantic County is also the home of the highest number of Stockton alumnus, with 9,004 Stockton graduates residing in the county that serves as the home for the school.

A total of 96 percent of the employees hail from the 19 counties in New Jersey, with 87 employees coming from out of state, and a total of 256 employees coming from the northern and central region of the state.

Stockton employs 269 employees from Ocean County, 171 from Camden County, 142 from Cape May County, 110 from Burlington County, 97 from Gloucester County, 75 from Cumberland County, and 11 from Salem County.

Stockton is the fourth highest employer in the region. AtlantiCare is the leader with 5,200 employees, followed by the Naval Air and Engineering Station in Ocean County with 3,300 employees and the Showboat Hotel and Casino with 2,453 employees. Stockton employs about 800 more people than RCM Technologies in Camden County (1,600) and almost 1,000 more than Shore Memorial Hospital, which employs 1,500 people.

“Stockton’s economic impact on the region means a great deal to the growth, vitality and quality of life to southern New Jersey and the entire state,” Saatkamp said.  “Conversely, the growth, vitality and quality of life of the region nurtures Stockton’s growth This report quantifies and places the College’s contributions in a relatable context.”

The report shows that students spend an estimated total of  $43,454,326.53, with an estimated $25,267,335.24 of that total being spent off campus.

This includes $3,100 in transportation, 1,861.24 in personal pursuits and $1,600 in books and supplies. Each of the 3,851 students who spend their money in the community is estimated to spend $6,561.24.

Students are estimated to spend a total of $18,186,991.29 “on-campus,” with an estimated $7,475.13 being spent by each of the 2,433 students. This includes $2,975.13 in personal and miscellaneous pursuits, $2,900 in transportation and $1,600 in books and supplies.

Stockton has expanded its on campus recreation over the past few years, including adding a to the campus and opening a on campus in September.

When Stockton graduates move out of state, 1,379 of them have moved to Pennsylvania, according to the report. Florida is home to 1,224 Stockton graduates, with New York (597), California (561), Maryland (437) and Virginia (432) comprising the top six out-of-state homes to Stockton alums.

After Atlantic County, the top six counties that house Stockton graduates are: Ocean County (5,820); Camden County (2,360); Monmouth County (2,206); Burlington County (2,185); and Cape May County (2,037).

To read the full report, click here.