President’s Report documents FSU’s economic impact

By Sophia Harris Editor-in-Chief Framingham State University contributed an estimated $284.4 million to the Massachusetts economy in the most recent fiscal year, according to President Nancy Niemi in her annual President’s Report April 18. “This kind of impact may surprise people,” said Niemi. “We’re a school, but we’re also a community institution, employer, and collaborator. Our presence ripples throughout the region in many ways.” In a statement to The Gatepost, Massachusetts Commissioner of Higher Education Noe Ortega said, “Framingham State’s economic impact report shows that the University is not only a great place to learn, but it’s central to the City of Framingham and the larger MetroWest community.” He added, “By preparing students for the careers of tomorrow, connecting with regional employers, and drawing on the talents of residents, Framingham State is a great example of how Massachusetts’ public institutions of higher education bring value as engines of economic opportunity.” Ortega said he is grateful for Niemi’s “leadership in ensuring that students make meaningful connections on and off campus that will allow them to grow as learners and professionals.” FSU’s $284.4 million economic footprint is driven by a combination of operational expenditures, payroll, employment, and student presence. Total operations expenditures reached $132 million, covering everything from salaries and benefits to utilities, travel, consulting, and other fixed costs associated with running the University. Vice President for Finance, Technology, and Administration Robert Totino explained that these costs encapsulate the full operational picture. “It’s what it takes to run a university,” Totino said. “Salaries and benefits are just part of it. We’re talking about things like honorariums, travel, utilities, and infrastructure consulting. It’s a holistic number.” Payroll alone accounted for $71.2 million, directly supporting over 990 employees - 530 full-time and 460 part-time staff. “When we talk about economic impact, it’s about more than direct spending,” Niemi said. “These employees live, shop, and raise families in this region, which creates additional economic ripple effects.” FSU is also home to 4,002 students. Though their economic impact can be harder to quantify, their presence supports local businesses and housing markets, while graduates go on to bolster the state’s workforce. In the past academic year, 834 bachelor’s and master’s degrees were awarded. One notable discrepancy in the report was a drop in the number of degrees conferred from 1,042 the previous year to 834 in AY24. Niemi addressed this by pointing to enrollment trends. “Our enrollment is actually going up now,” she said. “But we’re still seeing smaller classes from previous years graduating. It’s a pipeline issue - we’re letting those smaller cohorts finish while newer, larger ones are just entering.” This shift is reflected in student demographics and will likely balance in the coming years as newer cohorts progress through their academic programs. A native of New York, Student Trustee Jeremy McDonald said the University played a pivotal role in bringing him to Massachusetts. “Framingham State was the reason I came to Massachusetts and discovered all the great things about Framingham, MetroWest, and Massachusetts’ central role. Its impact isn’t just in the facts and figures, which are truly significant, but also in showcasing everything this area has to offer.” He added, “I think that Framingham State is a key contributor to the MetroWest region, which is a significant portion of the Massachusetts economy. Framingham State also draws upon students from beyond its local area to the larger MetroWest area and beyond, even to me, who is from out of state. My friends are from across the country as well.” FSU’s endowments stand at $48.6 million for the University and $16.8 million for its foundation, reflecting solid growth from the prior year’s figures of $44 million and $16 million, respectively, according to Totino. These funds are essential for scholarships, faculty positions, and long-term sustainability. Totino said it is important to understand the difference between an endowment and fundraising. “Endowments are built from donations that are invested. You keep the principal intact - what we call the corpus - and spend a portion of the earnings on designated priorities, like scholarships or professorships,” he said. The University raised $2.86 million in fiscal year 2024 through its foundation. Some of those funds contributed directly to the endowment, while others were earmarked for immediate needs. “These dollars are critical,” Totino said. “They represent donors’ trust in our mission.” Niemi underscored the unique role regional public universities such as FSU play in their communities. “We’re often called ‘anchors of place,’ and that’s accurate,” she said. “We are here to serve our community, both immediate and regional.” This commitment goes beyond economics. The University supports cultural and social development through partnerships with local nonprofits and employers, such as Framingham Public Schools and the MetroWest YMCA. FSU faculty often donate time and expertise to these groups, further embedding the University in the fabric of the region. “There’s a cultural economy, too,” Niemi said. “People visit the campus for museum exhibits or art classes. These experiences matter, even if they don’t show up in budget spreadsheets.” She also pointed to examples from around the country where the loss of a local college devastated entire towns. “Wells College in upstate New York is one example. When it closed, the town practically shut down,” she said. “That’s not to suggest we’re in that position, but it highlights just how vital institutions like ours are.” As FSU continues to grow enrollment and strengthen its financial stewardship, its economic and social influence will remain a cornerstone of the MetroWest region, according to Niemi. With an eye on affordability, accessibility, and regional service, the University is poised to deepen its impact even further. “We take our responsibility seriously,” Niemi said. “We’re not just educating students - we’re helping shape the economic and cultural landscape of this entire region.” Senior Julie Hadley said, “This is a testament to not only the success of the students and staff of FSU, but also our profound effects on the Framingham community!” She added, “Our economic impact helps to support the Massachusetts workforce through job creation and higher earning power.” Hadley said FSU’s fundraising and tax revenue also contribute to many programs that support local communities. “It’s great to be a part of a community with such positive influences on our economy, community, and sustainability,” she said. Freshman Alessandra Acety said a lot of students who graduate from Framingham State leave with their “foot already in the door” for jobs in Massachusetts. She said it makes her “feel a lot more comfortable to graduate and go out into the world,” knowing that FSU invests so much in its students. Freshman Leah Dean said the University has a lot of local jobs always on display for students to choose from. As a fashion design & retailing major, Dean said there is never a lack of local opportunities and jobs to choose from. Junior Parker Yan said he was surprised by the amount of money Framingham State contributes to the Massachusetts economy, adding, “It is a very impressive amount.” SGA Treasurer Khoa Bùi said this is a “reminder that the value of our University extends well beyond the classroom. We’re not just educating students - we’re also actively strengthening the local and state economy.” Bùi added the University “generates economic impact in multiple ways - through job creation, student and faculty spending, partnerships with local businesses, and events that draw people to the area. “It’s a source of pride for students like me, knowing that we’re part of a community that contributes so meaningfully to the broader public good. It motivates us to be responsible stewards of student resources and to continue advocating for programs and initiatives that both enhance student life and support the economic vitality of the region,” he said.