GREENVILLE, Pa.-- The Association of Independent Colleges and Universities of Pennsylvania has released the results of an independent study estimating Thiel College’s annual economic impact on Mercer County, the region and the state of Pennsylvania at $73.1 million and 604 jobs.
The analysis was conducted by Parker Strategy Group, a nationally recognized research firm specializing in economic impact studies. Using IMPLAN modeling and industry-standard higher-education methodologies, the study evaluated Thiel’s direct spending on operations, wages and benefits, and capital projects, as well as increased demand for goods and services among suppliers that support the College.
The report also measured student and visitor spending and the induced effects of higher household income linked to Thiel’s activity. According to the study, the College supports and sustains 604 jobs statewide, including direct employment at Thiel and indirect and induced positions with suppliers, contractors, and service providers. These include full-time and part-time jobs at businesses such as hotels, restaurants, gas stations, medical offices, and retail stores that serve Thiel faculty, staff, students and visitors.
“As this study affirms, Thiel College is a vital driver of opportunity for our region and our state,” Thiel College President Susan Traverso, Ph.D. said. “That impact is strengthened by substantial improvements underway on our campus. Thiel has invested more than $60 million in recent construction and renovation projects, highlighted by a $10 million project at the Daniel and Dorothy Spence Academic Center. Much of this work is being done by local firms and contractors. We look forward to celebrating the completion of the second phase of work with a ribbon-cutting during Homecoming on Sept. 27.”
Rod E. Wilt ’86, a member of the Thiel College Board of Trustees and executive director of Penn Northwest Development Corp., said the findings underscore Thiel’s role as an anchor institution.
“Thiel’s continued investment in facilities and academic quality supports jobs, attracts talent and strengthens the regional economy,” Wilt said. “The AICUP report quantifies what business and community leaders see every day—Thiel is an essential partner in advancing northwest Pennsylvania’s growth.”
Estimated annual tax revenues total $5.8 million for the Commonwealth of Pennsylvania and for local governments, including sales, property, personal income and corporate income taxes generated by the economic activity associated with the College.
“There’s no question that Pennsylvania’s independent, nonprofit colleges and universities serve as vital economic drivers for their communities and help fuel the economic vitality of the Commonwealth,” said Nichole Parker, managing principal of Parker Strategy Group.
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