Binghamton University generated $1.79 billion for the New York state economy in the 2024-2025 fiscal year, according to a new report from the Binghamton University Office of Institutional Research .
The total includes an increase of $140 million, or an 8% increase over the 2023-2024 fiscal year. For every dollar of state funding, the report states, Binghamton University generates $6.09 in economic activity. Additionally, the University supports 12,603 jobs statewide through employment, capital projects, and student/visitor spending.
Additionally, the report notes that the University contributed $1.69 billion to the Binghamton regional economy in 2025, up $200 million – a 13% increase over the previous year.
"As a leading public research institution, Binghamton University has a responsibility to contribute to the economic vitality of our region, state, and nation," said President Anne D'Alleva. "Beyond our role as a major employer, we prepare exceptionally talented graduates to become leaders across a wide range of fields, and we partner with industry to advance research and translate innovation into real-world applications. This work is central to Binghamton's mission, and I'm pleased to see our economic impact continuing to grow across multiple dimensions."
Released annually, the Office of Institutional Research's report examines the University's economic footprint in three areas: direct economic effects, indirect economic effects, and induced effects (visitor expenditures, effects on property values, establishment of new companies in the region, etc.)
"Binghamton University plays a pivotal role in our region and state, contributing directly to the workforce and industries of all types," said Donald E. Hall, provost and executive vice president for academic affairs. "Seeing the effects the University, students, faculty, staff, and visitors have on our area is an encouraging sign and underlines the importance of our work."
Powering the regional economy
The report notes that the University increased its expenditures to $1.15 billion in 2024-2025 (a 9.5% increase), generating $1.3 billion for the New York state economy. The largest portion of this total is employee wages, salaries, and benefits at $519 million. This total is up $44 million (9.2%) from the 2023-2024 fiscal year, which aligns with hiring trends at the University.
Binghamton University is in the midst of a major expansion of the local workforce. The University increased its employee count by 6% in 2024-2025, to 5,930. When factoring in that total with the ripple effect of jobs at businesses the University works with, and where University employees spend their income, Binghamton helped support 8,530 jobs (up 17.3%) in the region and 8,823 jobs across the state (up 14.4%). Employment generated by the University's operational spending has added more than $687 million to New York state's economy.
Likewise, Binghamton's $58 million (16% increase) capital investment into bolstering facilities and infrastructure during the 2024-2025 fiscal year supported 388 jobs statewide and added nearly $91 million to the state economy.
Among employees directly working with and teaching students, 1,235 faculty members were employed at the University during the Fall 2025 semester, of whom 80% hold the highest degree available in their field. The report notes that the University has increased its faculty roster by 14% over the past five years.
"The University is one of the primary employers in the area, significantly contributing to the local economy through annual expenditures on operations, employee compensation, procurement of goods and services, capital investments, and auxiliary spending generated by students and visitors," the report states.
As much as the University directly contributes to the region's financial well-being, so do the people currently attending Binghamton.
Investing in people
Steady growth has occurred over the last five years in the number of students learning at Binghamton University and benefiting the local economy, rising from 18,055 in Fall 2021 to 18,652 in Fall 2025.
"Overall growth in student population suggests effective recruitment and retention strategies," the report states. "The increasing percentage of students from outside local communities shows expanded geographic reach, possibly due to marketing, online programs, or reputation growth."
The report indicates Binghamton University students spent $309 million in the regional economy in 2024-2025, an $11 million increase over 2023-2024. Of that total, student spending created 3,253 jobs and contributed $338 million to the state. The Office of Institutional Research noted that only personal spending was considered for on-campus undergraduates, because food and housing are included in their fees, whereas spending on housing, food, transportation, and personal items was evaluated for off-campus students.
In addition to students who spend most of the year living on campus and in the area, visitors to campus – including family members, acquaintances of current students, prospective students, campus event attendees, and sports fans – are all contributing to the economy. University data shows that around 220,000 visitor instances (new and returning visitors) took place in the 2024-2025 fiscal year. This influx of people results in spending at local restaurants, hotels, entertainment experiences, and more.
Spending from those visits jumped 33% from the previous year to $12 million. This spending, the report says, generated $18.4 million (up nearly 44%) for the regional economy.
This year, nearly 4,600 Binghamton University students will walk across the stage at Commencement ceremonies and officially become Binghamton University graduates, and the vast majority of them will enter the workforce. These ceremonies alone draw over 25,000 guests to the region.
Beyond the classroom
Those graduates will join the network of 162,814 Binghamton University alumni throughout the United States. Of that total, the report notes that 102,985 live in New York state. Over the last decade, about 13% of out-of-state students stayed in New York state after graduation, showing that many people who come to New York end up continuing to contribute to the NYS economy after their time at Binghamton University is complete.
Most students who graduate use the skills and tools they picked up at Binghamton to become gainfully employed, pay taxes, and aid the success of the state economy. Of the 102,985 alumni still in New York state, the report estimates that 85% are working and earning, totaling almost $6.1 billion in annual income.
The impact of the University and its students extends far beyond the dollar total they help generate. The connections built among students, faculty, staff, and the wider community pay large dividends for all involved through service-learning experiences and volunteer programs, showcasing dedication to active civic participation. University data reveal 9,186 students participated in community service activities in 2024-2025, and 6,628 were involved in community service, clinical placements, and field experiences during that same span. The total estimated value of these activities amounted to $33.8 million.
"Binghamton University provides long-term economic value by enhancing the University's economic, societal, and cultural impact through engagement from the local to the global level," the report states. "We see the evidence of these impacts through Binghamton students' community service and service-learning activities, through its entrepreneurship and innovation activities, and the increased earning capacity of Binghamton alumni through the premier education that Binghamton University offers."
Koffman Incubator jumpstarts business success
The Binghamton University Office of Entrepreneurship and Innovation Partnerships oversees the operations of the Koffman Southern Tier Incubator, established in 2017. The incubator is a Binghamton University-powered startup hub that provides workspace, mentorship, and resources to help early-stage companies grow their business and accelerate innovation. Students are also offered firsthand entrepreneurial experience through this venture.
The Incubator has generated $817 million of economic impact for the region since its founding. The 65 member companies of the Incubator employ 805 full-time employees, and are credited with creating 199 new jobs in 2025. These member companies cover a wide array of sectors, including clean energy, healthcare, biotechnology, software development, and advanced materials.
Read the full report by clicking here.
About Binghamton University
Binghamton University offers students a broad, interdisciplinary education with an international perspective and one of the most vibrant research programs in the nation. The campus, recognized as an R1 institution for very high research activity by the Carnegie Classification of Institutions of Higher Education, recorded $87.3 million in research expenditures in 2024-25, its best year ever.
