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Economic Impact

RIT contributes significantly to the town, county and state economy. We provide direct employment for over 4,000 people. RIT serves as a cornerstone for investment, and fuels the local economy though our operations and activities. In 2013, RIT’s total economic impact exceeded $1,332,000,000.  Examples of RIT’s economic contributions to the community include:

  • $526,510,000 in total direct institutional spending
  • $46,420,000 in construction spending
  • $1,180,540,000  institutional, construction and spillover impact
  • $539,410,000 in labor compensation
  • $151,640,000 in student and visitor impact
  • $30,738,000 in NYS Personal Income Tax Revenue
  • $8,444,000 State & Local Sales Tax Revenue
  • 9,350 direct & spillover jobs

Additional information may be found in the downloadable “RIT Economic Impact Study” report by the Center for Governmental Research.