Higher education is an important industry in the Hudson Valley. Of the approximately 100,000 students in the mid-Hudson region’s colleges and universities, about half are enrolled in the SUNY system and the other half in independent, non-profit institutions of higher learning. Institutional payroll at all these schools is more than a billion dollars a year, and more than 20,000 people have jobs in them. That’s about half as many people in the region as work in manufacturing.
The value of enhanced educational attainment in yielding economic benefits is well recognized, as are the benefits of a highly educated workforce to social productivity. As management guru Peter Drucker famously put it in 1999 in an early use of the term knowledge worker, “The most valuable assets of a 20th-century company were its production equipment. The most valuable asset of a 21st-century institution, whether business or non-business, will be its knowledge workers and their productivity.”
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