Lehigh's Role in Advancing the Lehigh Valley: Collective Growth and Economical Progression
Lehigh University's Economic Impact on the Lehigh Valley Revealed in New Report
Lehigh University has released its Community and Economic Impact Report for fiscal year 2024, shedding light on the significant economic contributions the institution makes to the Lehigh Valley. The report, developed in partnership with Lightcast, a leading labor market analytics firm, quantifies the full scope of Lehigh's impact on the region for the first time in over a decade.
The work aims to ground Lehigh's aspirations in measurable outcomes, and the findings speak powerfully to the role Lehigh University plays in advancing the Lehigh Valley's vitality. In fiscal year 2024, Lehigh University, an R1 research institution, added $1.4 billion to the regional economy.
This economic impact is not limited to the university's direct activities. In FY24, Lehigh supported more than 14,000 jobs[3][5]. The university contributed $376.7 million in income to the region, supporting 6,235 jobs directly through its activities as a major employer and purchaser of goods and services.
Lehigh's economic impact extends beyond direct employment. The university's spending in the community stimulates local economic growth. In FY24, nearly $800 million was generated through start-ups, spin-offs, and manufacturers connected to university programs and Lehigh's wholly owned subsidiaries, such as the Manufacturers Resource Center and Ben Franklin Technology Partners of Northeastern Pennsylvania.
President of Lehigh University, Joseph J. Helble '82, thanked the community for their contributions to Lehigh's impact, including scholarship, service, research, teaching, and community connection. He reaffirmed Lehigh's position as an anchor institution in the region, stating that the university's work supports the goals of Lehigh's "Inspiring the Future Makers" strategy and its "Enhance the Shared Bethlehem Experience" initiative.
The Community and Economic Impact Report provides access to the Executive Summary and Full Report, which can be found on Lehigh's Community and Economic Impact website. The report underscores the university's commitment to its community and its role in shaping a stronger, more innovative, and more inclusive Lehigh Valley.
[1] Lehigh University Community and Economic Impact Report, 2023-24. [2] Lightcast. (n.d.). Retrieved from https://www.lightcast.com/ [3] Lehigh University. (n.d.). Retrieved from https://www.lehigh.edu/ [4] Manufacturers Resource Center. (n.d.). Retrieved from https://www.mrcpa.org/ [5] Ben Franklin Technology Partners of Northeastern Pennsylvania. (n.d.). Retrieved from https://www.benfranklin.org/
- The Community and Economic Impact Report for Lehigh University reveals that its research contributes significantly to the region's economy, generating $1.4 billion in fiscal year 2024.
- In addition to employment and income, Lehigh's technology-driven innovation stimulates local economic growth, resulting in nearly $800 million through start-ups, spin-offs, and manufacturers connected to university programs.
- The university's efforts in education and self-development extend beyond the campus, as they foster business growth and finance opportunities within the Lehigh Valley.
