GLASSBORO, N.J. (KYW Newsradio) — A report from Philadelphia-based Econsult Solutions finds Rowan University in Gloucester County is an economic powerhouse, with a $2.9 billion impact on the state, regional and local economies. The leader of the study says that’s because Rowan had an aggressive growth plan, and sticking to it through hard times has paid off.
For the past decade or so, Rowan has been on a steady climb — increasing enrollment, securing key partnerships for research and academic growth, and providing thousands of local jobs, both directly and indirectly, says Econsult Solutions President Lee Huang, who led the economic study.
“Rowan has put its foot on the gas and said ‘look we have the opportunity to be impactful for the students that we serve, the community that we’re in and the state economy that we are a major anchor for,” Huang said.
He says the university’s president, Ali Houshmand, and other school leaders had an aggressive growth plan and they continued pushing ahead, even through the pandemic and economic challenges.
“These are the kind of big bets that anchor institutions should make and that Rowan has taken the risk to make, and I think that risk has paid off significantly for its stature as well as for the positive benefit of the immediate community that it’s in.”
Huang says the university’s growth projections, into some challenging economic headwinds, is a continuation of the bold planning needed to set new standards.
“And I really tip my hat to President Houshmand and his team for putting that out there,” he said.
The study shows, for every dollar Rowan has contributed, it has generated $12 in economic activity for New Jersey.