University of Bridgeport Ranked Fourth Highest Tax Generator in City


   The University of Bridgeport continues to have a major economic impact on the City of Bridgeport, with UB responsible for contributing over $3.6 million dollars a year to the City in the form of PILOT and Pequot monies, according to recently published reports.

   This places the University of Bridgeport in fourth place among the City’s top tax- revenue generators. Bridgeport Energy, People’s Bank and Wisvest occupy the top three slots respectively. Four of the City’s top seven tax-revenue generators, including UB, are located in the South End.

   The PILOT program, or Payment-in-Lieu-of-Taxes, is money which municipalities receive from the state based on the assessed value of tax exempt institutions such as universities and other not-for-profits. Pequot funds are allocated by the state in a similar manner but at a much lower rate.

   The Connecticut Conference on Independent Colleges (CCIC), which released the figures on UB, will soon release an updated report detailing UB’s and other private colleges’ economic impact on Connecticut.

   The University of Bridgeport has a yearly economic impact of $63.5 million on the state according to the CCIC 1997 figures.



For further information
Contact: Chris Corcoran
Public Affairs Director
Tel 203-576-4510
Fax 203-576-4512
e-mail: bpt.univ@snet.net