The Economic and Societal Influence of Lehigh: Advancing the Lehigh Valley jointly
Lehigh University's Community and Economic Impact Report for FY24 Highlights Significant Contributions
Lehigh University, a renowned R1 research institution, has made a substantial impact on the regional economy, contributing $1.4 billion in FY24, as per the latest Community and Economic Impact Report.
The report, which can be accessed on the official report website, outlines the university's economic contribution in various key areas. These include spending by the university, students, and visitors, job creation, partnerships with local businesses, government, and community organizations, contributions to workforce development, community service and outreach programs, innovation and research, and more.
The report, developed in partnership with Lightcast, a leading labor market analytics firm, emphasises the importance of Lehigh University's role as an anchor institution in the region. It reaffirms the university's position by highlighting the impact of start-ups, spin-offs, and manufacturers connected to Lehigh's university programs. These entities, including the wholly owned subsidiaries Manufacturers Resource Center and Ben Franklin Technology Partners of Northeastern Pennsylvania, generated nearly $800 million in FY24.
The report also quantifies the full scope of Lehigh's impact on the Lehigh Valley for the first time in more than a decade. It supports the goals of Lehigh University's "Inspiring the Future Makers" strategy and its "Enhance the Shared Bethlehem Experience" initiative.
President of Lehigh University, Joseph J. Helble '82, expresses gratitude for the community's contributions to Lehigh's impact. He acknowledges the university's scholarship, service, research, teaching, and community connection as key contributors to a stronger, more innovative, and more inclusive community.
The report is presented in an Executive Summary and a Full Report, both of which are available on the Community and Economic Impact website. For precise impact figures, programs, and qualitative outcomes specific to Lehigh University and the Lehigh Valley for FY24, it is recommended to check Lehigh University’s official website or contact their Office of Community and Economic Engagement.
In essence, Lehigh University's report underscores its significant role in the regional economy, job creation, innovation, and community development. It serves as a testament to the university's commitment to its mission and its impact on the Lehigh Valley.
- Lehigh University's significant contributions to the Lehigh Valley in FY24, as indicated by the Community and Economic Impact Report, extend to sectors such as technology, research, education-and-self-development, and business, through spending by the university, partnerships with local businesses, and workforce development programs.
- The report, developed in partnership with Lightcast, reveals that Lehigh University's role as an anchor institution in the region is pivotal in driving innovation and finance, as evidenced by the nearly $800 million generated by start-ups, spin-offs, and manufacturers connected to Lehigh's university programs.
- In the realm of research and community development, Lehigh University's strategic initiatives, such as "Inspiring the Future Makers" and "Enhance the Shared Bethlehem Experience," are augmented by partnerships within the industry, ultimately leading to a more inclusive and innovative community.
