May 30, 2007

SKIDMORE RELEASES REPORT ON ITS LOCAL AND REGIONAL IMPACT

Economic impact surpasses $342.2 million annually

Saratoga Springs, N.Y. – Skidmore College’s impact on the economy and quality of life in Saratoga Springs and surrounding communities is the focus of a new report issued by the college.  The report, officially released May 30 at an on-campus breakfast meeting of business and civic leaders, is titled “Skidmore and the Saratoga Region: Continuing a Century-long Partnership.”

To assess its economic impact on Saratoga County, Skidmore commissioned a study this past April from the Albany-based Capital District Regional Planning Commission.  Using the sophisticated RIMS II model (Regional Input-Output Modeling System II) to measure the ripple effect of the college’s $120 million operating budget, the study determined that Skidmore’s overall economic impact on the county was $342.2 million annually, with an annual employment impact of 3,327 jobs.  The model measures estimated annual impact on 20 industry groups, including construction, manufacturing, retail, health care, real estate, and accommodation/food services. 

A key component of this impact is the college’s payroll of nearly $70 million for its 875 full-time-equivalent jobs.  “Most of those dollars stay in this region, where our employees live, pay taxes, educate their children, and actively involve themselves in their communities,” states the Skidmore report.

Using a national study by Harris Interactive on spending by college students (which estimates annual discretionary spending of $3,470 per undergraduate), the report says that Skidmore’s 2,400 students spend some $8.3 million annually, much of in this region.  It also notes the economic impact of the college’s major weekends – Commencement, Alumni Reunion, and Parents Weekend – as well as spending by campus visitors throughout the year.

The report also emphasizes Skidmore’s contributions to cultural and social make-up of the region, citing its year-round roster of performances, lectures, exhibitions, family activities, and athletic events.  Most of the events are free of charge.  A key component of the college’s cultural impact its Tang Museum, which draws some 40,000 visitors annually, including local school children.

The report makes special mention of Skidmore’s planned Arthur Zankel Music Center, which is expected to enhance the music and performance scene in the region.  The center will feature a 600-seat performance space with superb acoustics.  “This facility has already enabled us to launch a partnership with Carnegie Hall and Julliard to establish an annual residency for some of the country’s finest young musicians,” said Skidmore President Philip A. Glotzbach.  “It will be a fantastic venue for our public events.”

A third component of the report focuses on Skidmore’s role in community service, noting that he college’s Office of Volunteer Services works with some 40 nonprofit organizations to coordinate civic-engagement activities for approximately 700 students each year.  Also mentioned is the student volunteer club, Benef-Action, as well as the extensive commitment made by Skidmore employees who contribute their time, support, and expertise to community endeavors. 

“Over the past several years, we have become much more intentional about identifying ways in which we can contribute to and collaborate with the local community,” said Glotzbach.  He cited Skidmore’s role in helping to launch the three-year-old Saratoga Reads program and the new Skidmore Cares project, which collected enough food and funds to stock the Saratoga County Economic Opportunity Council food pantry for three months.  “And next month, we will kickoff the inaugural SaratogaArtsFest, a community-wide celebration of the arts,” said Glotzbach

Glotzbach announced that to strengthen its partnership with surrounding communities, Skidmore has reorganized its communications program to include an office of community relations, to be headed by longtime college relations director Robert Kimmerle.

“The attributes of Saratoga Springs and the entire region are extraordinary, and Skidmore is fortunate to be part of it.  In fact, Skidmore’s location makes it the envy of many of its competitors,” said Glotzbach.  “We at Skidmore are pleased to be able to contribute to the quality of life here, whether it be through our economic impact, cultural offerings, or community service.  This is truly a reciprocal relationship.”