Mobilizing Lehigh Valley: Joint Progress through Community and Economic Influence
Lehigh University has released its long-awaited Community and Economic Impact Report for fiscal year 2024, providing a comprehensive analysis of the university's role in advancing the Lehigh Valley's vitality.
The report, developed in partnership with leading labor market analytics firm Lightcast, highlights Lehigh University's significant contributions to the region. The university's strategies and initiatives, such as the "Inspiring the Future Makers" strategy and the "Enhance the Shared Bethlehem Experience" initiative, are shown to contribute to a stronger, more innovative, and more inclusive community.
One of the key findings of the report is that Lehigh University generated nearly $800 million through start-ups, spin-offs, and manufacturers connected to university programs in FY24. This is the first time in more than a decade that Lehigh's impact on the Lehigh Valley has been quantified.
Furthermore, the report reveals that more than 14,000 jobs were supported by Lehigh University in FY24. This employment impact extends beyond the university, with faculty, staff, and related service providers contributing to the local economy.
Lehigh University's work is focused on enhancing the vitality of the Lehigh Valley. President Joseph J. Helble '82 reaffirmed this commitment, stating, "We appreciate the contributions of our community members, including scholarship, service, research, teaching, and connection."
The university's wholly owned subsidiaries, such as the Manufacturers Resource Center and Ben Franklin Technology Partners of Northeastern Pennsylvania, also play a crucial role in the region's economic growth. As an R1 research institution, Lehigh added $1.4 billion to the regional economy in FY24.
The Community and Economic Impact report's findings are grounded in measurable outcomes, demonstrating the university's tangible impact on the Lehigh Valley. The report's Executive Summary and Full Report are available on the university's Community and Economic Impact website.
In conclusion, the Community and Economic Impact Report for fiscal year 2024 provides valuable insights into Lehigh University's role as an anchor institution in the Lehigh Valley. The university's work in research, volunteerism, partnerships, and presence contributes to a stronger, more innovative, and more inclusive community.
- The university's "Inspiring the Future Makers" strategy, as highlighted in the Community and Economic Impact Report, aims to foster technology and innovation within the Lehigh Valley, thereby promoting education-and-self-development and business growth.
- Lehigh University's wholly owned subsidiaries, such as the Manufacturers Resource Center and Ben Franklin Technology Partners of Northeastern Pennsylvania, provide finance and resources that facilitate technology-driven start-ups, spin-offs, and manufacturers on campus, reinforcing the region's economic development.
- Beyond academic education, Lehigh University's significant contributions to the Lehigh Valley extend to the finance sector, as demonstrated by the approximately $800 million in revenue generated from start-ups, spin-offs, and manufacturers connected to university programs in FY24, as revealed in the Community and Economic Impact Report.
