Lehigh has always valued its relationship with its neighbors and the role it plays in the Lehigh Valley community. But exactly how much and what type of impact has the university made?
Thanks to a partnership with Lightcast, a labor market analytics company, Lehigh has an answer.
Together, they worked to conduct an economic impact and investment analysis of the last fiscal year (July 1, 2023 through June 30, 2024), compiling the findings in the Community and Economic Impact Report 2023-2024. Lehigh’s measured comprehensive economic impact for the year totaled $1.4 billion, which includes added student income, business income, income from university activities, that’s equivalent to roughly 3.1% of the total gross regional product of the Lehigh Valley. The study also evaluates the return on investment to stakeholders, including social savings related to health, the justice system and income assistance in Pennsylvania. With $581.2 million in costs for the fiscal year, every dollar invested in Lehigh receives a cumulative value of $2.50 in benefits.
“Lehigh's success is intrinsically tied to the success of our community,” Tracey King, associate vice president of external affairs, said. “This report, the first formal analysis in more than a decade, provides compelling, third party evidence of Lehigh's significant impact on the region. It reaffirms our dedication to enhancing the shared Bethlehem experience through academics, research, entrepreneurship, volunteerism and collaborative initiatives.”
One part of the report that helps set Lehigh apart from other higher education institutions is the university’s focus on entrepreneurship and innovation. Through startup and spin-off companies and manufacturers connected to Lehigh programs, the university's impact on the local economy in added income is $796.9 million, the equivalent of supporting 5,467 jobs.
“A powerful driver of talent, innovation and entrepreneurship, Lehigh University is an asset that creates economic advantages setting the Lehigh Valley apart,” Don Cunningham, president and CEO of the Lehigh Valley Economic Development Corporation (LVEDC), said.
The university’s investment in research was also distinctive among higher education institutions. Lehigh was designated an R1 research university by the Carnegie Classification of Institutions of Higher Education earlier this year, placing it among the nation’s leading research universities. Research activities bolster the economy through employment and the purchasing of equipment, supplies and services. Lehigh’s research spending impact totaled $48.1 million and led to 30 inventions, 35 patents and one license.
Visitors from outside the region, including prospective student visits and alumni returning for events, also play a pivotal role for the local economy. They add $12.3 million to the economy, supporting the equivalent of 241 jobs through spending on lodging, dining and more.
The report also measured years of Lehigh graduates remaining in the Lehigh Valley and either entering the workforce for the first time, or re-entering, with newly acquired knowledge and skill. Lehigh graduates currently employed in the regional workforce made a net impact of $122.5 million in added income in the Fiscal Year 2024. That’s equivalent to supporting 1,218 jobs.
In addition to financial data, the report outlines the many ways Lehigh partners with community organizations, businesses, local governments and nonprofits as the university seeks to contribute to the community while also addressing challenges and needs.
