Opinion: Higher Education Is Essential To Driving Economic Growth In Westchester 

By Marvin Krislov, President of BCW Member Pace University, and Marsha Gordon, BCW President & CEO

As federal and state leaders debate the efficacy of higher education, one truth remains evident: independent colleges and universities in New York State are indispensable drivers of economic and social progress. This is particularly true for the Hudson Valley and Westchester County, where these institutions contributed $4.8 billion to the region’s economy during the 2022–2023 fiscal year and employ thousands of New Yorkers. This data comes from a report by the Commission on Independent Colleges and Universities, which highlights the economic contributions of New York’s private, nonprofit colleges and universities. 

Public colleges also play a vital role in this ecosystem, and together with private institutions, they create powerful collaborations that amplify economic and educational opportunities. 

Pace University is a shining example of this impact. In the past fiscal year, Pace’s campuses generated $880.6 million in total economic activity, fueled by institutional operations such as construction, salaries and investments in cutting-edge technology. Discretionary spending by students and visitors added $130.3 million, bolstering local businesses and creating a ripple effect that strengthens the regional economy. 

Yet, higher education’s contributions go far beyond dollars. Colleges and universities like Pace are hubs for innovation and community engagement. At the Westchester campuses, students and faculty collaborate on solutions to real-world challenges — addressing food insecurity, improving access to clean water and advancing environmental sustainability. These efforts benefit the broader community while equipping students with the skills and experience to meet the demands of today’s job market.  

Pace also equips students with hands-on skills for high-demand industries through initiatives like the Cyber Range at the Seidenberg School of Computer Science and Information Systems, which trains future cybersecurity professionals in tackling real-world scenarios. Meanwhile, the College of Health Professions’ simulation labs provide immersive training environments for nursing and healthcare students. These state-of-the-art resources on the Westchester campus prepare students to excel in critical workforce sectors. 

Pace’s campuses also directly support 6,500 jobs, including 3,400 on-campus positions. Employees and contractors tied to the university contributed $19.1 million in state and local tax revenue last year. These numbers reflect real families, businesses and neighborhoods thriving thanks to the university’s presence and commitment to the community. 

Cuts to higher education funding could jeopardize this progress, impacting not only institutions but also the services and partnerships that help communities flourish. The value of higher education extends beyond individual degrees — it is an investment in the vitality and resilience of the entire region. 

As debates about higher education continue, we must not lose sight of the transformative impact these institutions have — not just in our classrooms — but also in our communities.