4 | LEHIGH ALUMNI BULLETIN | FROM THE NEST Lehigh has always valued its relationship with its neighbors and the role it plays in the Lehigh Valley community. But exactly how much and what type of impact has the university made? Thanks to a partnership with Lightcast, a labor market analytics company, Lehigh has an answer. Together, they worked to conduct an economic impact and investment analysis of the past fiscal year (July 1, 2023 through June 30, 2024), compiling the findings in the Community and Economic Impact Report 2023-2024. Lehigh’s measured comprehensive economic impact for the year totaled $1.4 billion, which includes added student income, business income and income from university activities, which is equivalent to roughly 3.1% of the total gross regional product of the Lehigh Valley. The study also evaluates the return on investment to stakeholders, including social savings related to health, the justice system and income assistance in Pennsylvania. With $581.2 million in costs for the fiscal year, every dollar invested in Lehigh receives a cumulative value of $2.50 in benefits. “Lehigh’s success is intrinsically tied to the success of our community,” Tracey King, associate vice president of external affairs, said. “This report, the first formal analysis in more than a decade, provides compelling, third-party evidence of Lehigh’s significant impact on the region. It reaffirms our dedication to enhancing the shared Bethlehem experience through academics, research, entrepreneurship, volunteerism and collaborative initiatives.” Fueling the Valley’s Future One part of the report that helps set Lehigh apart from other higher education institutions is the university’s focus on entrepreneurship and innovation. Through startup and spin-off companies and manufacturers connected to Lehigh programs, the university’s impact on the local economy in added income is $796.9 million, the equivalent of supporting 5,467 jobs. “A powerful driver of talent, innovation and entrepreneurship, Lehigh University is an asset that creates economic advantages setting the Lehigh Valley apart,” Don Cunningham, president and CEO of the Lehigh Valley Economic Development Corporation (LVEDC), said. The university’s investment in research was also distinctive among higher education institutions. Lehigh was designated an R1 research university by the Carnegie Classification of Institutions of Higher Education earlier this year, placing it among the nation’s leading research universities. Research activities bolster the economy through COMMUNITY Lehigh’s Economic Impact The university invested in a Community and Economic Impact Report for fiscal year 2024, which showed a comprehensive impact of $1.4 billion on the Lehigh Valley. BY THE NUMBERS $48.1M spent on research activities, which impacts the regional economy through employment, purchasing and knowledge creation including inventions, patents and licenses Amount Lehigh added to the total economy in the Lehigh Valley in the fiscal year 2024 $1.4B in the Lehigh Valley is supported by the activities of Lehigh and its students, totaling 14,374 1 OUT OF 31 JOBS CHRISTA NEU
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