Stony Brook University has made a significant economic impact on Long Island, according to a recent study titled "The Impact of Stony Brook University." The report indicates that the university contributed $8.93 billion to the Long Island economy and $3.42 billion in earnings, representing over three percent of all economic activity in Nassau and Suffolk Counties. Additionally, it supports more than 55,000 jobs, accounting for eight percent of total employment in Suffolk County.
The study was conducted by John A. Rizzo, PhD, a professor of Economics and Population at Stony Brook University. This is the second such analysis by Professor Rizzo; the previous one was completed in 2019. "This study confirms that Stony Brook’s economic impacts are far-ranging," said Rizzo. He noted the university's role in enhancing student productivity through education and its broader economic benefits to businesses and workers across Long Island.
Student spending also contributes significantly to the regional economy. In 2024, students and their families spent an estimated $288.2 million on off-campus expenses such as meals and entertainment—a 21% increase from 2016—resulting in an additional $374.6 million in economic output, $100.6 million in raised earnings, and support for 2,547 jobs.
Globally, Stony Brook University's alumni have made notable contributions through their earnings over four decades using the Regional Input-Output Modeling System (RIMS II). Their annual earnings amount to $27.73 billion with a global economic output of $36.1 billion supporting approximately 245,153 jobs.
For more details on this study or related initiatives by Stony Brook University, visit their website or social media pages.