Quantitative data on the nature and magnitude of the economic impact of Trenton State College (New Jersey) on the surrounding community are provided in an attempt to reduce conjecture. Data were collected for fiscal year 1977-78. In many cases the data were then applied to a model developed by John Caffrey and Herbert H. Isaacs; in other cases, surrogate models were developed. Positive economic impacts include $22.5 million in college-related local expenditures, $22.0 million in the value of business property committed to college-related business, $7.0 million in expansion of local banks' credit base from college-related deposits, $2.7 million in college-related revenues received by local government, and 2,010 local jobs attributable to the presence of the college. Negative economic impacts include $3.8 million in operating costs of local government-provided municipal and public school services, $7.3 million in the value of local governments' properties allocable to the college-related portion of their services, $26 thousand in real estate taxes foregone through the tax-exempt status of the college, and $1.2 million in local business volume unrealized because of the existence of college enterprises. On balance, it is found that the college has a substantial positive impact on the economic health of local business, government, and individuals. Appended are a bibliography, map of the area, faculty and staff questionnaire, commuting student questionnaire, and the mathematical formulas used in the study. (MSE)