UNITED STATES: Universities lead economic transition in New York state

The higher education sector in New York has led all other industries in job growth over the past decade, and officials say colleges and universities are playing a primary role in the transition from a labour-based to a knowledge-based economy.

Nanotechnology, biomedical science, analytics and renewable energy development have pushed aside manufacturing and agriculture as burgeoning industries in New York. As the state continues to struggle with population losses and a high unemployment rate, colleges are emerging as economic drivers.

From 2000-10, private higher education institutions in New York grew by 38%, or nearly 69,800 employees, while private sector jobs in the state decreased by 1.1%, or 134,600 workers.

The State University of New York, a public system, grew by nearly 20%, or 14,304 employees, during the same period. Now, universities are partnering with corporations or creating businesses to market products and services they develop, according to officials.