August 22, 2025
The annual economic impact of Saint Vincent College on the Pennsylvania economy is estimated to be $144.6 million and 1,128 jobs, according to a recent study released by the Association of Independent Colleges and Universities of Pennsylvania (AICUP).
The study conducted by Parker Strategy Group, a Philadelphia-based consulting firm, used fiscal year 2023 data for its economic impact analysis. The examination considers direct spending on operations, wages and benefits, capital projects by the College, and the estimated increase in demand for goods and services in industry sectors that supply or support SVC, according to the AICUP.
Student and visitor spending is also factored into the study, AICUP officials added, in addition to the “induced effect of increased household income.”
As a result of this annual economic impact, the study deduced that the College supports and sustains 1,128 jobs in the Commonwealth of Pennsylvania, including direct employment by SVC in addition to indirect and induced jobs created by supply and equipment vendors and contractors. The employment numbers also factor in jobs created at businesses, including hotels, restaurants, gas stations, health care facilities and retail stores, frequented by SVC faculty, staff, visitors and students.
Additionally, Saint Vincent generates approximately $11.5 million in tax revenues annually for state and local governments.
“Saint Vincent College is proud to serve as an economic driver in our region. This report highlights the real impact our students, alumni, faculty and staff have, both in our local community and across our Commonwealth,” said Father Paul Taylor, O.S.B., C’87, S’91, president of Saint Vincent College. “Through strong partnerships and a shared commitment to service, we continue to invest in the future of our community.”
The AICUP—comprised of 85 independent nonprofit schools—represents the largest sector of higher education in Pennsylvania. Combined, the schools created and sustained over 200,000 jobs in the Commonwealth and boasted an annual economic contribution exceeding $29 billion. That figure increases to $65 billion—or 6.6% of Pennsylvania’s economy—when including affiliated teaching hospitals.
The report also shows AICUP schools educate 53% of all students in Pennsylvania seeking a four-year degree and educate roughly 279,000 students annually. AICUP schools enroll 45% of all teacher certification candidates, according to the report, and award nearly 70% of the nursing degrees in the state.
“These schools lead the state and do the heavy lifting for Pennsylvania by creating jobs and attracting talent in the state,” said Tom Foley, former state secretary of labor and industry who also serves as AICUP’s president. “The fact is, AICUP schools are the lifeblood that keeps dozens of towns in Pennsylvania thriving.”
In fact, for every $1 in state funding spent on AICUP member schools, there is a $158 return on investment. Additionally, each year, AICUP schools generate $1.5 billion in state and local taxes.
One out of every 33 jobs in the Commonwealth is created, sustained or supported by an AICUP school. Those member schools and owned teaching hospitals collectively support 393,590 jobs across the Commonwealth—equivalent to 6.1% of the state’s civilian labor force.
The 28-page report is now available at
www.aicup.org.
About AICUPThe Association of Independent Colleges and Universities of Pennsylvania is the only statewide organization that exclusively serves the interests of independent, nonprofit higher education within the Commonwealth and exists to complement and support the work of campus leaders. AICUP was established in October 1995 through the affiliation of three existing educational organizations.
