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The Drexel Effect
The Economic Impact of Drexel University
Drexel University professors
educate future professionals,
entrepreneurs, artists and
leaders whose skills contribute
to regional economic growth.
Drexel researchers create
valuable knowledge that makes
the economy more productive
and competitive. And Drexel’s
impact extends beyond the
classroom and lab into tangible
economic gains for Greater
Philadelphia and Pennsylvania.
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This report is based on the findings of a 2005 study,
“The Economic and Fiscal Impacts of Drexel
University,”by Econsult Corporation, Philadelphia, Pa. |
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| Economic Impact |
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$1.6 billion contribution to Pennsylvania’s economy
Drexel boosts major industries across Pennsylvania, and much of its economic impact is generated by money that flows into the state from outside, making Drexel one of the region’s most important exporters.
$90,000 economic impact per student
$300,000 economic impact per employee |
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Building the economy:
$396.3 million
The University’s construction program has
generated a $396.3 million impact on
Pennsylvania’s economy in the past five
years, an average of more than $79 million per
year. Investment in higher education capital
infrastructure pays dividends to the state and
the region over an extended period of time. |
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| Relative Impact |
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8.9% of total economic impact of
94 private universities in Pennsylvania
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Drexel packs a disproportionate punch among private universities in Pennsylvania. |
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| Employment Impact |
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18,183 full- and part-time
Pennsylvania jobs |
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Drexel’s expenditures in a wide range of
activities create an employment impact that
extends far beyond the 5,600 people working
directly for the University. Directly or
indirectly, Drexel is responsible for jobs in
nearly every sector of the economy. |
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Co-op jobs:
$30.3 million
Co-operative education places nearly every Drexel undergraduate in full-time, careerrelated
employment for up to three 6-month periods. This means Drexel students are also
valued workers, earning (and paying taxes on) $30.3 million annually in Pennsylvania. |
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| Productivity Impact |
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$173 million increase in wages of Drexel alumni
due to increased productivity |
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Drexel alumni are recognized by employers
as highly skilled and productive. As a result,
they earn higher wages that create increased
economic activity for the region and the state. |
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| Qualitative Impact |
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Civic engagement contributions |
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The benefits Drexel creates for the region
and state include many thousands of hours
of community service performed by students
and employees each year, making
Philadelphia and Pennsylvania better
places to live. |
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- Drexel’s Cultural Passport helps more than 20 local cultural organizations reach new audiences,
offering each Drexel freshman one free admission or performance at each institution.
- The Eleventh Street Family Health Services Center of Drexel University serves four Philadelphia
public housing developments, treating underserved populations and reducing the burden on hospitals.
- Under the Drexel/School District of Philadelphia Partnership, Drexel students, faculty and staff
provide technological, academic and volunteer support to eight West Philadelphia public schools
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