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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.

   
This report is based on the findings of a 2005 study, “The Economic and Fiscal Impacts of Drexel
University,”by Econsult Corporation, Philadelphia, Pa.
   
Economic Impact
 

$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

 
 
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.

 

Relative Impact
 

8.9% of total economic impact of 94 private universities in Pennsylvania

  Drexel packs a disproportionate punch among private universities in Pennsylvania.
 
   
   
Employment Impact
  18,183 full- and part-time Pennsylvania jobs
  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.
   
 
  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.
   
   
Productivity Impact
  $173 million increase in wages of Drexel alumni due to increased productivity
  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.
   
   
Qualitative Impact
  Civic engagement contributions
  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.
   
 
  • 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


Modified: Monday, March 27, 2006
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