A study by the Commission on Independent Colleges and Universities (CICU) suggests that the three private colleges in northern New York are responsible for more than half a billion dollars a year in economic activity.

Clarkson University, St. Lawrence University, and Paul Smith's College contribute an annual $563 million to the economy, including annual construction, says a CICU report based on figures from 2009 and published Wednesday.

Collectively, these three institutions are directly and indirectly responsible for an estimated 4,200 jobs and more than $208 million in payroll.

Statistics specific to St. Lawrence University show an overall economic impact of more than $275 million. Direct spending by SLU amounted to an estimated $115 million in 2009. SLU directly employed an estimated 903 people in 2009.

Clarkson University provides an economic impact of more than $225 million to the regional economy through its institutional operations and jobs related to supporting student services and commercialization of research, the report says. Direct spending by Clarkson is estimated at $94.6 miilion. Clarkson directly employed an estimated 903 people.

Clarkson University President Tony Collins said, “The North Country is a great place to learn, live and work. We are committed to the economic vitality of our region as well as delivering a world-class education that prepares students for positions of leadership in industry and global enterprises. By integrating the processes of discovery, engineering innovation and commercialization into our curriculum and external outreach efforts, we are leading the development of a powerful model for the role research universities can have in creating economic impact in their communities.”

St. Lawrence University President William L. Fox stated, "We have always known that for St. Lawrence University to thrive, our region must also thrive. We want to be a good neighbor and have a positive, lasting impact here. The results of this study show concretely many ways that St. Lawrence is contributing to the area that is our home."