A Driving Force
Villanova recently engaged leading economic consulting firm Econsult Solutions Inc. to conduct an independent analysis of the University’s economic and social impact. The resulting report clearly demonstrates the University’s significant contributions to and impact on Radnor Township, Delaware County and the Commonwealth of Pennsylvania.
Villanova’s statewide economic impact is nearly $900 million, which supports 6,120 jobs in the state with more than $460 million in annual earnings. This impact comes from the University’s ongoing operations, including the purchase of goods and services and the employment of more than 2,700 faculty and staff; its capital investments, which have averaged $120 million annually over the past five years; and the ancillary spending of students and visitors on food, lodging, shopping and entertainment locally and regionally.
In Delaware County, Villanova’s impact totals $326 million, and in Radnor Township, home to the University for its entire 177-year history, the University’s impact is $62 million. Villanova is the township’s largest employer and one of its most significant economic engines, paying taxes and fees of approximately $11 million to the township over the past six years.
“Villanova’s operations, along with spending by students, their parents, alumni and visitors, have a tremendous positive financial impact on the community,” says Executive Vice President Kenneth G. Valosky ’82 VSB.
Villanova’s connections to the local business community are especially strong. The University is a driving force for Main Line businesses and has partnered with business and civic associations for programs like Villanova Dines Out Restaurant Week, which encouraged students and neighbors to dine out locally, and the inaugural Main Line Small Business Panel and Networking Event for small-business owners, which Villanova co-hosted.
“We hear time and time again from business owners that proximity to the Villanova is an asset to them and the community as a whole,” says Chris Todd, owner of Christopher’s restaurant in Wayne and president of the Wayne Business Association.
The University’s mission, rooted in its Augustinian Catholic values, calls students, faculty, staff and alumni to ignite change around the world, and that commitment begins close to home. Each year, for example, more than 5,000 Villanova volunteers give back at more than 100 sites throughout Greater Philadelphia, including more than 30 around the Main Line, during the St. Thomas of Villanova Day of Service.
“We at Villanova believe strongly in being a good neighbor — lending a hand to meet needs in the community, providing access to our academic and recreation facilities, and inviting our neighbors to athletic, arts and cultural events,” says Chris Kovolski ’96 CLAS, assistant vice president for Government Relations and External Affairs. “That outreach is a critical part of our mission.”
”Villanova has a tremendous positive financial impact on the community.”
Executive Vice President Kenneth G. Valosky ’82 VSB
Villanova’s statewide $887 million economic impact supports
with $461 million in annual earnings