As one of the largest schools in the State University of New York system, Binghamton University plays a key role in the Binghamton area’s economic ecosystem.
In January, the school announced it would be home to the state’s new Center for AI Responsibility and Research, thanks to $55 million in state and private funding. In March, the university also announced that the National Science Foundation Upstate New York Energy Storage Engine project had entered phase two of funding, and would be receiving $45 million over the next three years.
According to the school’s latest impact report, Binghamton University had a greater impact on the local economy in 2024-25 than in previous years.
Here is everything you need to know about Binghamton University’s Economic Impact Assessment for 2024-25.
Binghamton University generates more than $1.5 billion for local economy annually
According to the report, the university generated $1.69 billion for the Binghamton regional economy in 2025 — a $200 million increase from the previous year.
Statewide, the university increased its contribution by $140 million in 2025, adding a total of $1.79 billion to the New York state economy. According to the report, the school turned each dollar of state funding into more than $6 of economic activity.
A core part of the school’s impact comes from its various colleges, including professional colleges like the Decker College of Nursing and Health Sciences. The university’s impact spans beyond campus and lecture halls, and includes research, construction projects and all university spending.
Housing and real estate also make up a large portion of the economic impact, with a combined $222 million throughout the region. Restaurants and retail shopping make up a significant portion of local impact as well, with tens of millions raised and hundreds of jobs created.
Binghamton University supports thousands of jobs locally and throughout the region
As an employer, Binghamton University supports just under 6,000 employees, having added 339 employees since 2024. Locally, the university also helps by supporting thousands of jobs — 12,238 to be exact.
Across New York State, the report found the university’s spending activity supported an additional 12,603 jobs, nearly 1,400 more jobs compared to 2024.
Employees and students alike also contribute significantly to regional economies, with students spending $309 million in 2025. Employees and those in supported industries generated $376 million in 2025.
Binghamton University alumni often choose to remain in New York
While student and visitor spending is a critical piece of the university’s contribution to both the state and local economy, a lasting impact is also created by the number of alumni who decide to remain in New York after receiving their degree.
According to the report, more than 102,000 Binghamton University alumni currently reside throughout New York — an increase of 12,855 from the previous year. Unsurprisingly, this number makes up a significant majority of the university’s total alumni, with 63% of all alumni choosing to reside within the state.
“Binghamton University students, the majority of whom come from New York State when they begin their collegiate study, stay in New York after graduation, are gainfully employed, pay taxes, and otherwise contribute to the New York economy,” the report reads.
In total, the report estimates that economic impact spurred by the university’s alumni reaches far beyond the scope of the university itself — a total economic impact of $5.36 billion in 2024-25 alone.
This article originally appeared on Binghamton Press & Sun-Bulletin: Binghamton University increases local economic impact by $200 million, report says
Reporting by Riccardo Monico, Binghamton Press & Sun Bulletin / Binghamton Press & Sun-Bulletin
USA TODAY Network via Reuters Connect
