Ersys Logo Ersys Name
Escambia County – Colleges/Universities 2023-2024

Picture of valves

Universities play a crucial role in shaping local economies by driving employment, fostering business growth, attracting investment, and enhancing the overall quality of life in their host communities. Their economic impact extends beyond direct spending to include long-term benefits such as workforce development, innovation, and cultural enrichment. Below, we explore the key ways in which a university influences a local economy.

  1. Direct Employment and Spending A university is often one of the largest employers in a local area, providing jobs for faculty, administrative staff, maintenance workers, and other professionals. These employees spend their salaries on housing, groceries, transportation, and entertainment, injecting money into the local economy. Additionally, universities spend significant amounts on construction, utilities, and local services, further stimulating business activity.

    Students also contribute to local spending. Many bring outside money into the community through tuition payments, federal aid, and personal expenditures on rent, food, and retail. A large student population can sustain businesses such as bookstores, coffee shops, restaurants, and housing providers.

  2. Business Development and Entrepreneurship Universities often serve as hubs for innovation and entrepreneurship. Research institutions, business incubators, and technology transfer offices help commercialize academic research, leading to startup formation and industry partnerships. For example, Stanford University's role in Silicon Valley's growth demonstrates how academic institutions can spur regional economic development.

    Local businesses benefit from university partnerships, including procurement contracts for supplies, catering, and maintenance services. Furthermore, universities attract conferences, sporting events, and cultural activities that generate tourism revenue for hotels, restaurants, and transportation services.

  3. Human Capital and Workforce Development A well-educated workforce is essential for economic competitiveness. Universities produce graduates with specialized skills that attract high-paying industries, such as technology, healthcare, and finance. Many graduates remain in the area, filling critical roles in local businesses and government.

    Universities also offer continuing education programs, professional certifications, and workforce training initiatives that help upskill local employees, making the regional labor market more adaptable to industry changes.

  4. Real Estate and Infrastructure Growth The presence of a university can drive demand for housing, both from students and faculty. This often leads to the development of new apartments, condominiums, and mixed-use commercial spaces. Over time, universities contribute to urban revitalization by investing in campus expansions, public transit improvements, and community amenities like libraries and parks.

    However, rapid growth can also lead to challenges, such as rising housing costs and gentrification, which may displace long-term residents. Local governments must balance economic expansion with policies that ensure affordable housing and equitable development.

  5. Cultural and Social Contributions Beyond economics, universities enrich local culture through arts programs, public lectures, and athletic events. These activities improve residents' quality of life, making the area more attractive to businesses and skilled workers. A vibrant university town often sees increased property values and a more diverse, engaged community.


Conclusion

The economic impact of a university on a local economy is multifaceted, encompassing job creation, business growth, talent development, and infrastructure investment. While challenges such as affordability and displacement must be managed, the long-term benefits-including innovation, increased tax revenues, and a more dynamic workforce-make universities vital engines of regional prosperity. By fostering collaboration between academia, government, and industry, communities can maximize these advantages while ensuring inclusive growth.
 
United States Sports Academy
Reid State Technical College  
Fortis Institute-Pensacola  
Lurleen B Wallace Community College  
Northwest Florida State College  
Coastal Alabama Community College  
Pensacola State College  
University of West Florida  
Columbia Southern University  
Percent admitted - total
Admissions yield - total

Full-time enrollment
Part-time enrollment

Total  enrollment
% White
% Black
% Asian
% Hispanic
% Native Hawaiian or Other Pacific Islander
% American Indian or Alaska Native
% two or more races
% Race/ethnicity unknown
% U.S. Nonresident

Undergraduate enrollment
% under 18
% 18-24
% 25-64
% over 65

Graduate enrollment

Student-to-faculty ratio

Tuition and fees, 2020-21
2021-22
2022-23
2023-24

Total price for
In-district students living on campus  2023-24
In-state students living on campus 2023-24
Out-of-state students living on campus 2023-24

In-district students living off campus (no family)  2023-24
In-state students living off campus (no family)  2023-24
Out-of-state students living off campus (no family)  2023-24

In-district students living off campus (w/ family)  2023-24
In-state students living off campus (w/ family)  2023-24
Out-of-state students living off campus (w/ family)  2023-24

Associate's degree
Bachelor's degree
Master's degree
Doctor's degree - research/scholarship
Doctor's degree - professional practice
Doctor's degree - other

Instructional FTE
Research FTE
Public Service FTE
Librarians, Curators, and Archivists FTE
Student/Academic Affairs and Other Education Services FTE
Management FTE
Business and Financial Operations FTE
Computer, Engineering, and Science FTE
Community Service, Legal, Arts, and Media FTE
Healthcare FTE
Service FTE
Sales and Related FTE
Office and Administrative Support FTE
Natural Resources, Construction, and Maintenance FTE
Production, Transportation, and Material Moving FTE
Total FTE staff
NA
NA

13,257
5,230

18,487
58
18
2
2
1
1
3
15
0

13,111
0
8
92
0

5,376

28

5,775
5,775
6,125
5,808


NA
NA
NA

20,804
20,804
20,804

11,872
11,872
11,872

1,258
2,579
1,736
41
0
0

341
0
0
5
130
53
7
29
58
0
4
20
72
0
0
719
57
27

7,165
7,206

14,371
58
11
3
13
0
0
5
5
4

9,661
0
72
28
0

4,710

22

6,360
6,360
6,360
6,360


23,416
23,416
36,297

25,066
25,066
37,947

10,984
10,984
23,865

539
2,174
1,441
29
0
0

435
10
0
11
47
261
205
76
36
9
67
0
131
40
5
1,333
NA
NA

3,397
5,121

8,518
61
17
3
9
0
1
7
0
1

8,518
16
49
34
0

0

23

2,364
2,367
2,365
2,348


NA
NA
NA

16,720
16,720
23,779

8,870
8,870
15,929

1,303
239
0
0
0
0

223
0
0
1
34
45
30
40
78
0
8
0
167
20
0
646
NA
NA

2,697
4,094

6,791
64
23
1
5
0
1
6
0
0

6,791
27
54
19
0

0

15

4,860
4,860
4,920
4,980


25,930
25,930
29,740

23,105
23,105
26,915

15,080
15,080
18,890

883
NA
NA
NA
NA
NA

265
0
0
2
59
37
8
7
21
0
35
0
66
2
2
504
NA
NA

2,173
2,987

5,160
64
7
3
13
0
1
7
4
1

5,160
31
41
27
0

0

22

3,133
3,191
3,246
3,246


NA
NA
NA

18,002
18,002
26,381

9,072
9,072
17,451

920
175
0
0
0
0

139
0
0
6
36
14
8
19
48
6
17
0
106
19
2
420
NA
NA

753
1,377

2,130
70
19
1
4
0
0
5
0
0

2,130
43
45
12
0

0

17

4,860
4,620
4,920
4,980


15,347
15,347
19,157

19,247
19,247
23,057

9,797
9,797
13,607

274
NA
NA
NA
NA
NA

72
0
0
4
5
11
6
2
8
0
6
0
24
0
0
138
NA
NA

593
64

657
48
37
2
6
0
0
4
2
0

657
0
33
67
0

0

17

14,244
14,974
14,754
14,767


NA
NA
NA

41,231
41,231
41,231

20,453
20,453
20,453

72
NA
NA
NA
NA
NA

36
0
0
1
0
8
3
0
7
0
0
0
3
0
0
58
NA
NA

229
347

576
27
66
1
2
0
0
4
0
0

576
27
44
30
0

0

15

4,920
7,335
4,950
6,100


NA
NA
NA

15,500
15,500
20,100

9,300
9,300
13,900

33
NA
NA
NA
NA
NA

22
0
0
0
5
4
5
1
1
0
3
0
20
2
0
63
35
69

73
199

272
39
30
1
11
0
1
1
17
1

144
0
41
59
0

128

14

16,418
16,418
16,418
18,900


NA
NA
NA

39,960
39,960
39,960

22,800
22,800
22,800

0
20
19
0
0
10

18
0
0
1
12
8
2
7
6
0
0
0
7
1
1
63


Sources: STI: PopStats and STI: Colossus