|From The Chancellor
The City University of New York is vital to the economic health of New
York City and State. The University's total economic impact within
New York State is nearly $13 billionmore than 10 times the size of CUNY's
CUNY alumni and employees contributed more in taxes themselves than
the total amount of State and City aid the University received in 1996-97.
Of equal importance to New York's taxpayers, The City University graduates
productive citizens who stay in New York. They are the intellectual capital
that attracts visionary, expanding businesses to the State. They produce
an unparalleled return on New York's investment.
According to the most recent Standard & Poor's national survey of
business executives, CUNY ranks first in the number of baccalaureate alumni
who are now top corporate leaders. Since 1990, the University has bested
Harvard, Yale, and the University of Wisconsin in the survey. Moreover,
75% of these CUNY graduates live and work in the metropolitan area. Together,
they employ tens of thousands of workers.
CUNY is at the forefront in graduating scientists, writers, teachers,
systems analysts, scholars, government leaders, artists, and engineers,
among many other professionals. Eleven alumni have won the Nobel Prize.
|In recent years, the University has made a concerted effort to bring
its education resources to bear directly on economic development.
CUNY has been designated a New York State Center for Advanced Technology
in Ultrafast Photonics, a field that is revolutionizing the telecommunications
and imaging industries. The research has drawn the support of New York
corporations, who have become partners with the University in developing
this technology for the marketplace.
The University's research programs receive more than $212 million annually
in support from corporations, foundations and government agencies.
Through its Workforce Development Initiative and other programs, the
University is helping New York businessesboth large and smallgain a competitive
edge by educating workers to meet crucial labor force needs and providing
the expertise necessary to launch small businesses.
The University's most important contribution to the economic development
of New York City and State, however, will continue to be what it has been
for 150 years: to provide low-cost, high-quality education to the people
of New York. For every student turned away from CUNY due to inadequate
resources, New York puts at risk a stream of dollars spent in New York
and a stream of taxes paid to New York by CUNY graduates.
This document gives eloquent testimony to the crucial role the University
will play in the future of our city, state and nation.
W. Ann Reynolds