The 2,750 students that attend Colgate University make up a significant portion of the population of Hamilton, NY, which has a local population of approximately 3,500. When summertime comes, most of these students leave town and take their spending power with them. To add to this, village residents come and go on vacations during the summer season. It seems likely that downtown Hamilton stores and restaurants would be adversely affected by Colgate’s summer break.
Ellis, Alden, "Summer Sales in Hamilton, NY" (2013). Upstate Institute Student Research. Paper 1.