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Economic Impact

As one of the “eds and meds” institutions in the city, Holy Cross is a driver of economic development in Worcester. The College’s purchase of goods and services, employment of faculty and staff, capital improvements, as well as visitor and student spending, result in significant contributions to the local economy.

 

Holy Cross in the Community Report

Highlights of the College's recent contributions and commitments.

 

Of the College's 1,145 employees, 447 live in Worcester. Worcester-based employees were paid $34.7 million in salaries, wages, and benefits.

Holy Cross contributes to the economy by hiring local contractors and using local vendors whenever possible.  Holy Cross paid in excess of $28 Million
to contractors and vendors from Worcester or Worcester County.  The College is proud of its history of using union labor for major projects.

Valuing the City of Worcester's efforts to create programming that engages and educates in a safe and inclusive environment, the College made direct contributions to support specific programs in the amount of $202,958, including:

    Approximately 5,500 families of prospective and current students visit the College annually. Many of these visitors make Worcester their destination as well, staying in area hotels, visiting museums, dining at
    restaurants, and shopping at retail stores. It is estimated nearly $4 million is spent at local restaurants, shops, museums, and recreational venues in Worcester County by the College’s
    2,900 students.

    Learn more about Worcester-area scholarships