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Grand County – Colleges/Universities 2023-2024

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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.
 
Institute of Taoist Education and Acupuncture
IBMC College  
Naropa University  
Auguste Escoffier School of Culinary Arts-Boulder  
Colorado State University-Fort Collins  
University of Colorado Boulder  
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
83
16

34,350
7,082

41,432
64
2
6
13
0
0
6
1
8

32,105
1
93
6
0

9,327

19

12,466
12,496
13,106
16,430


37,684
37,684
63,197

36,204
36,204
61,717

20,564
20,564
46,077

0
6,965
2,176
409
179
0

1,937
962
6
81
518
1,121
497
1,472
269
107
664
0
632
200
64
8,530
90
16

25,925
7,575

33,500
68
3
3
14
0
0
5
1
5

25,834
1
89
10
0

7,666

17

12,260
12,260
12,874
12,896


32,439
32,439
53,294

31,512
31,512
52,367

16,833
16,833
37,688

0
5,201
1,606
231
148
0

1,914
1,414
209
18
581
117
758
389
290
311
525
1
548
596
55
7,726
NA
NA

8,571
0

8,571
34
38
1
10
0
2
7
9
0

8,571
0
20
79
1

0

49

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

1,117
NA
NA
NA
NA
NA

105
0
0
0
110
23
91
9
5
0
2
169
0
0
0
514
94
26

669
448

1,117
70
2
3
9
0
0
6
8
3

368
0
40
60
0

749

9

34,600
34,600
34,600
34,600


51,310
51,310
51,310

55,294
55,294
55,294

40,615
40,615
40,615

0
70
185
0
0
0

116
0
0
3
35
46
25
6
9
0
5
0
15
0
0
260
NA
NA

306
0

306
48
2
0
46
0
0
3
0
0

306
0
63
37
0

0

11

14,400
14,580
14,960
15,320


NA
NA
NA

31,280
31,280
31,280

16,800
16,800
16,800

3
NA
NA
NA
NA
NA

45
0
0
0
2
7
4
1
0
0
1
5
15
0
0
80
NA
NA

36
0

36
81
0
3
6
0
0
11
0
0

0
NA
NA
NA
NA

36

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
5
0
0
0

0
0
0
0
0
4
1
0
0
0
0
0
0
0
0
5


Sources: STI: PopStats and STI: Colossus