The State University of New York (SUNY) is the largest comprehensive system of higher education in the United States, currently providing affordable, quality higher education to about 1.4 million students across its system of 64 college and university campuses and its entire portfolio of credit- and noncredit-bearing courses and programs, continuing education, and community outreach programs. Unquestionably, SUNY is a key driver of the economic engine of New York State. SUNY's annual economic impact in New York State was $31.0 billion in the academic year 2020-21 (AY 2020), an 8 percent growth in overall state economic impact since 2016 ($28.6B). This growth in impact has been driven largely by SUNY's expanding hospitals and research activities; indeed, research and development activities system-wide have continued to grow, reaching more than $1.4 billion in 2020, an increase of more than 22 percent from just five years prior. This report offers an update and expansion of the calculation of economic impact SUNY had on New York in 2018 made in a previous report by the Rockefeller Institute of Government.