Iona University has been reported to contribute $254.9 million annually to New York State's economy, as per the latest findings from the Commission on Independent Colleges & Universities (CICU). The report highlights that Iona supports 1,700 jobs both on campus and in the wider community.

The economic influence of Iona University is attributed to significant campus improvements and a rise in student enrollment. Since 2019, the university has increased its new student intake by over 40%, welcoming its largest freshman class in more than two decades last fall.

The biennial report, covering fiscal year 2022-23, indicates that independent colleges and universities collectively contributed $97 billion to New York’s economy.

"Having a strong institution of higher education like Iona University at the heart of our community is essential to driving economic vitality," stated Iona University President Seamus Carey, Ph.D. He added that "a thriving higher education industry is not only critical to New York’s future but is also a cornerstone of our shared success."

Iona University's economic contributions include $220.3 million in institutional spending related to salaries, construction, instruction, technology, research, and other operational costs. Additionally, there is $34.7 million in spending by students and visitors attending various events at the university.

The CICU notes that employees associated with Iona have contributed approximately $5.8 million in state personal income tax revenue and state and local sales tax revenue.

Recent capital investments have further bolstered Iona's impact on the region. The university has received recognition from multiple prestigious publications for its educational quality and social mobility efforts.

Founded in 1940 by the Edmund Rice Christian Brothers, Iona University offers a wide range of undergraduate and graduate programs across its campuses in New Rochelle and Bronxville. It continues to gain national acclaim for its academic offerings and return on investment for graduates.

For additional information about Iona University or its programs, visit www.iona.edu.