Dynamics of Lehigh's Community and Economic Influence: Advancing Lehigh Valley Jointly
Lehigh University, a renowned R1 research institution, has once again demonstrated its impact on the Lehigh Valley's economy, as revealed in its recently released Community and Economic Impact Report for fiscal year 2024.
The report, developed in partnership with labor market analytics firm Lightcast, quantifies Lehigh's economic impact on the region for the first time in over a decade. It underscores the university's role in advancing the Lehigh Valley's vitality, a fact that has long been recognised.
In fiscal year 2024, Lehigh University generated a total of $1.4 billion in economic activity within the Lehigh Valley, accounting for approximately 3.1% of the region's total gross regional product (GRP). This figure includes the university's direct and indirect contributions to the local economy.
The university directly employed 5,470 faculty and staff members, while indirectly supporting over 14,000 jobs across the region. Lehigh's research activities added $48.1 million in income to the region through employment and purchases of equipment, supplies, and services.
The university's initiatives, including its wholly owned subsidiaries like the Manufacturers Resource Center and Ben Franklin Technology Partners of Northeastern Pennsylvania, generated nearly $800 million through start-ups and spin-offs in FY24.
Lehigh alumni living and working in the Lehigh Valley contributed $122.5 million in added income, while visitors and out-of-region students added $12.3 million and $28.3 million respectively to the local economy.
President of Lehigh University, Joseph J. Helble '82, expressed gratitude to the community for contributing to Lehigh's impact through scholarship, service, research, teaching, and deep connection. He reaffirmed the university's position as an anchor institution in the region, contributing to a stronger, more innovative, and more inclusive community.
The report's findings support the goals of Lehigh University's Inspiring the Future Makers strategy, specifically the "Enhance the Shared Bethlehem Experience" initiative. The university's aspirations are grounded in measurable outcomes, as per the report.
The Community and Economic Impact Report is available on the university's website, providing access to the Executive Summary and Full Report. Despite not providing new data on Lehigh's economic impact, job support, or startup generation in the Lehigh Valley, the report serves as a testament to the university's ongoing commitment to the region's growth and development.
- Lehigh University's role in technological advancement, as demonstrated by its research activities and wholly owned subsidiaries, significantly contributes to the Lehigh Valley's economy and business sector.
- Education and self-development at Lehigh University, extending beyond the campus, positively impact the region's finance and industry through employment opportunities and income generation by its alumni.
- The university's efforts in research, innovation, and community engagement, as highlighted in the Community and Economic Impact Report, greatly contribute to the Lehigh Valley's overall education, vitality, and economic development.
