A newly released report confirms Penn State University’s powerful role in driving Pennsylvania’s economy, generating $15.8 billion in economic impact and supporting nearly 110,000 jobs statewide.
Representing 2% of the commonwealth’s total economy, Penn State contributes to nearly one in every 10 jobs in Pennsylvania through its operations, research, health system, and alumni network. The analysis highlights the university’s extensive economic footprint, driven by expenditures on goods, services, capital investments, and the presence of students and visitors across its campuses.
Penn State ranks as the seventh-largest employer in the state and demonstrates strong taxpayer return: for every $1 received in state appropriations, it delivers $2.27 in tax revenue back to Pennsylvania. Its overall contributions include significant gains from Penn State Health, which alone accounts for $7.3 billion in annual economic output, supports over 38,000 jobs, and produces more than $320 million in state and local tax revenue.
The university’s research enterprise adds another $2.5 billion in annual impact, driven by $1.2 billion in research expenditures during the 2022–23 fiscal year. Meanwhile, Penn State Intercollegiate Athletics adds $754.6 million in impact, supporting nearly 6,000 jobs and generating over $50 million in taxes.
The report’s findings were based on an IMPLAN input-output analysis model, which tracked how Penn State’s financial activities ripple through the broader economy. From health care and innovation to education and community engagement, the university continues to play a central role in Pennsylvania’s growth, making it one of the state’s most influential public institutions.
source: psu.edu