Recent growth at Rowan University – from new academic buildings to increased housing options and added programs and faculty – did more than impact students and the campuses in Gloucester and Camden counties. They are also bolstering the economy of Glassboro, South Jersey and the state.
A recent economic impact analysis by private research firm Econsult Solutions, to update its 2015 study, pegs that impact at $1.53 billion. Rowan directly supports 4,460 jobs at the university and close to 7,000 jobs indirectly in New Jersey each year, making it a major driver of economic development in the region and the state.
Commissioned by the university, the report also indicates Rowan’s statewide economic impact has increased by 24 percent from $1.23 billion since 2015.
Rowan has undertaken $298 million in capital construction investments during the past four and a half years. Rowan students spend an additional $128 million a year throughout the state, in addition to tuition, fees, and room and board. Alumni living and working in New Jersey earn about an additional $197 million annually due to the education and credentials they received from Rowan.
“We have long been committed to provide not only an accessible and affordable education to our students but also to help the region’s economy grow,” Rowan President Ali Houshmand said. “These findings underscore the critical role higher education plays in the State’s economy.”