2018 Local Economic Snapshot




$986M Payroll
$221M Student spending
$75M Visitor spending
$178M Purchasing in Tompkins County and adjacent counties (by location of vendor).
$53M Construction spending in Tompkins County and adjacent counties (by location of prime contractor).
$7.93M Local contributions to governments, Ithaca City School District, non-profit organizations, and public transit support.
$3.6M Property taxes generated (school taxes $2.3 million, municipal taxes $1.3 million). Taxes paid on Cornell-related properties rank third in Tompkins County.
$3.5M Municipal fees (water, sewer, storm water $2.5 million; other $1 million). Cornell operates its own water system for most of the campus and serves as a backup to municipal water systems.
$334M External federal, state and corporate research funding spent locally.
$750K Cornell United Way’s share of countywide campaign (40%), and Cornell goal ($750,000).
$22M Venture capital raised in 2018 by the companies of Rev: Ithaca Startup Works, founded by Cornell (with Ithaca College and Tompkins Cortland Community College). Rev companies created 81 new local jobs in 2018.
$13.9M Venture capital and investments raised by Cornell’s McGovern Family Center for Venture Development’s Ithaca-based clients in 2018. These companies have created 17 new local jobs in 2018.

NOTE: Numbers for students, employees, and payroll are for Cornell’s Ithaca Campus only. Download PDF version