A $1.1 Billion Impact on New Jersey

Montclair State University added $1.1 billion to New Jersey’s economy, supported 9,300 jobs and generated million in state tax revenues in fiscal year 2015, according to its recently released 2015 Economic Impact Report.

“The University makes a significant contribution to the business, civic and cultural life of New Jersey,” says President Susan A. Cole. “There is no question that Montclair State is a key economic driver for New Jersey.”

This trend is set to continue in the coming years. The University is making a substantial investment in New Jersey’s economic future by earmarking approximately million per year for capital initiatives during fiscal years 2017-2020.

Despite a challenging funding environment, Montclair State has worked to keep tuition as low as possible, while offering more than million in total scholarships and other financial aid to New Jersey residents.

Campus aerial photo.

“The Economic Impact Report offers measurable proof that the state would benefit, both from an economic and educational perspective, if it would increase its support for public higher education institutions,” Cole says.