Economic Impact

As a contributor and beneficiary to a vibrant Wallingford, Choate Rosemary Hall promotes economic growth in Wallingford through its direct expenditures, and through the spending of visitors attracted to the area when they visit campus.

Our faculty, staff, students, and visitors support local businesses and prioritize purchases from local vendors. In addition, Choate encourages its students and employees to volunteer in the community, helping businesses and organizations grow. 

To better understand Choate’s impact on Wallingford through financial aid, employment, operations spending, student spending, and volunteerism, take a closer look at how the School contributes to the local economy.

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Financial Aid

During the current academic year, 28 Wallingford residents (excluding Choate faculty children) attend Choate. The School underwrites their attendance with $472,000 in financial aid.  

Employment 

In 2022, Choate employed 545 full-time and part-time employees, making it the 5^th largest employer in Wallingford. The School paid nearly $36 million in salaries to employees. Given that 58% of Choate faculty and staff live in town, much of this payroll was spent locally on everyday expenses like groceries, entertainment, dining out, and other household needs.

As the 5^th largest employer in Wallingford, Choate Rosemary Hall is an integral part of the economic health of the town, contributing significantly to its growth and stability.  

Operations Spending

Choate’s day-to-day operations spending added $39.8 million in income to the town during the 2022 fiscal year. This figure represents the School’s payroll, the multiplier effects generated by the local spending of the School and its employees, and a downward adjustment to account for day students from Wallingford who would have contributed to the local economy whether they attended Choate or not. The $39.8 million in added income is equivalent to supporting 502 jobs in the town. 

Student Spending

During an average year, 75% of students attending Choate are boarding students, and these students relocate to Wallingford to attend Choate. Most boarding students would not have come to the Town if the School did not exist. While living at school, and attending classes, boarding students spend money on food, entertainment, and other living and personal expenses throughout the year. This spending generated $1.2 million in added income for the town economy in 2022. It is estimated that this spending supported 13 jobs in Wallingford. 

Summing the tax revenues from the spending of the School and its visitors and students, the added tax revenues that occurred in Wallingford in 2022 were equal to $1.2 million. 

Visitor Spending

Tens of thousands of visitors from outside of Wallingford are attracted to Choate annually to attend graduation, go on admission tours, participate in reunions, and attend other events sponsored or hosted by the School. While in Wallingford, visitors spent money on lodging, food, transportation, entertainment, and other personal expenses. The off-campus expenditures of the School’s out-of-town visitors generated an estimated net impact of $2 million in added income for the town economy in 2022. This $2 million in added income is equivalent to supporting 37 jobs in Wallingford.

Volunteerism

Choate encourages its students and employees to volunteer in Wallingford, where they can work with businesses and organizations to help meet their goals. The work of these student and employee volunteers allows businesses and organizations to grow, increasing their output and impacting the economy at large. Using the value per volunteer hour for Connecticut,  the contribution of Choate student and employee volunteers is equivalent to more than $450,000 in earnings. In terms of actual impact to the Wallingford economy, Choate student and employee volunteers generated an impact of more than $560,000 in added income for the town in 2022, equivalent to supporting 12 jobs. 

Total Impact

Choate’s operations spending impact, visitor spending impact, student spending impact, and volunteerism impact added $43.6 million in income, equivalent to approximately 0.8% of the total gross regional product (GRP) of Wallingford to the town’s economy during the 2022 fiscal year. 

Using the jobs-to-sales ratios specific to each industry in the town, the School’s total impact can be translated to supporting 564 town jobs—beyond those directly hired by the School—in industries beyond education. And, one out of every 56 jobs in Wallingford is supported by the activities of Choate and its constituents. If the School did not exist, these impacts would not have been generated in Wallingford. 

One out of every 56 jobs in Wallingford—beyond the Choate campus—is supported by the activities of Choate and its students. 

For more information, read our Economic Impact Analysis.