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.
- 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.
- 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.
- 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.
- 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.
- 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.
|
Pima Medical Institute-Denver |
Denver Seminary |
|
Denver College of Nursing |
|
Naropa University |
|
Rocky Vista University |
|
Rocky Mountain College of Art and Design |
|
Regis University |
|
Red Rocks Community College |
|
Colorado School of Mines |
|
Community College of Denver |
|
Colorado Christian University |
|
Auguste Escoffier School of Culinary Arts-Boulder |
|
Community College of Aurora |
|
Colorado State University Global |
|
University of Denver |
|
Arapahoe Community College |
|
Metropolitan State University of Denver |
|
Front Range Community College |
|
University of Colorado Denver/Anschutz Medical Campus |
|
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 |
78
14
12,338
11,071
23,409
49
5
9
21
0
0
5
2
8
14,027
21
60
19
0
9,382
16
9,401
9,384
9,562
10,017
32,823
32,823
51,015
32,582
32,582
50,774
17,903
17,903
36,095
0
2,559
2,365
188
527
0
5,548
914
182
41
379
1,516
642
2,248
124
1,830
189
0
441
123
40
14,217 |
NA
NA
4,437
16,659
21,096
58
2
4
26
0
1
4
4
2
21,096
41
38
21
0
0
22
4,032
4,032
4,126
4,740
NA
NA
NA
28,765
28,765
40,999
13,915
13,915
26,149
1,920
17
0
0
0
0
497
0
0
6
103
61
87
35
69
0
34
3
91
11
2
999 |
99
17
9,985
7,608
17,593
44
7
4
36
0
1
5
1
1
16,430
17
53
29
0
1,163
14
8,693
10,021
10,260
10,780
NA
NA
NA
33,039
33,039
51,762
18,189
18,189
36,912
0
2,689
411
0
0
0
870
0
0
0
74
49
122
47
96
5
0
0
497
1
0
1,761 |
NA
NA
2,524
11,454
13,978
64
3
4
16
0
0
5
6
1
13,978
49
33
18
0
0
25
4,027
4,027
4,080
4,308
NA
NA
NA
27,613
27,613
39,847
12,763
12,763
24,997
847
33
0
0
0
0
253
0
0
3
78
59
38
18
0
0
22
0
38
8
1
518 |
71
11
8,554
4,833
13,387
64
5
4
13
0
0
5
2
6
6,415
0
91
8
0
6,972
10
53,775
54,819
56,439
59,340
80,536
80,536
80,536
80,536
80,536
80,536
63,487
63,487
63,487
0
1,278
2,830
128
307
0
1,017
20
0
45
101
395
521
160
213
18
163
0
178
40
3
2,874 |
93
82
2,048
7,459
9,507
56
9
5
17
0
0
2
10
1
6,568
0
16
83
0
2,939
25
8,400
8,400
8,400
8,400
NA
NA
NA
23,401
23,401
23,401
10,201
10,201
10,201
0
1,718
1,333
0
0
0
191
0
0
2
104
35
7
9
0
0
0
0
15
0
0
363 |
NA
NA
1,350
7,334
8,684
26
16
6
33
0
0
5
3
9
8,684
59
25
16
0
0
13
3,940
3,947
4,030
4,030
NA
NA
NA
26,595
26,595
38,245
11,745
11,745
23,395
629
NA
NA
NA
NA
NA
109
0
0
3
68
52
13
10
0
0
8
0
22
5
0
290 |
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 |
NA
NA
2,513
5,741
8,254
64
12
2
13
0
1
3
3
0
6,730
19
33
48
1
1,524
15
34,750
35,436
37,432
39,266
54,242
54,242
54,242
52,980
52,980
52,980
41,880
41,880
41,880
212
737
398
0
4
0
289
0
0
3
33
72
38
34
161
3
20
0
48
6
0
707 |
NA
NA
1,889
5,826
7,715
31
11
5
42
0
1
4
2
4
7,715
29
40
31
0
0
21
4,788
4,745
4,586
4,902
NA
NA
NA
27,403
27,403
39,637
12,653
12,653
24,887
713
8
0
0
0
0
178
0
0
0
74
46
32
8
36
0
1
0
5
0
0
380 |
60
25
6,893
706
7,599
65
1
6
12
0
0
6
2
8
5,839
1
95
3
0
1,760
17
19,100
19,538
20,040
21,186
42,006
42,006
65,196
40,641
40,641
63,831
25,791
25,791
48,981
0
1,211
525
136
0
0
382
138
0
12
82
155
211
64
32
4
104
0
105
53
3
1,345 |
NA
NA
2,000
5,382
7,382
62
2
3
22
0
1
4
4
2
7,286
35
38
27
0
96
26
4,379
4,379
4,471
4,707
NA
NA
NA
27,272
27,272
39,512
12,422
12,422
24,662
569
5
31
0
0
0
154
0
0
3
62
44
66
11
14
0
29
0
33
8
1
425 |
87
11
3,310
1,321
4,631
53
6
6
24
0
1
4
4
2
2,680
0
67
32
0
1,951
9
38,558
39,610
42,220
43,980
63,408
63,408
63,408
63,468
63,468
63,468
48,618
48,618
48,618
0
658
767
0
142
0
429
0
0
2
5
76
6
30
33
5
13
39
213
16
0
867 |
NA
NA
1,107
781
1,888
56
11
4
14
0
2
4
9
0
1,888
0
57
42
0
0
12
20,725
21,615
22,607
23,720
NA
NA
NA
41,447
41,447
41,447
28,307
28,307
28,307
0
283
2
0
0
0
110
0
0
10
23
25
19
5
4
5
6
0
41
7
1
256 |
NA
NA
1,567
7
1,574
71
2
5
3
0
0
15
3
0
0
NA
NA
NA
NA
1,574
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
104
0
287
0
99
3
0
8
61
59
25
16
2
12
24
0
44
0
0
353 |
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
1,008
0
1,008
50
14
7
19
1
1
5
3
0
949
0
30
70
0
59
14
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
26
423
17
0
0
0
71
0
0
1
0
14
9
1
3
0
1
0
8
0
0
108 |
NA
NA
200
637
837
69
8
8
1
0
0
3
8
3
0
NA
NA
NA
NA
837
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
138
0
0
4
51
0
0
7
8
21
4
5
0
2
0
2
28
0
0
128 |
NA
NA
764
0
764
37
5
3
48
0
0
7
0
0
764
0
52
47
0
0
25
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
172
NA
NA
NA
NA
NA
40
0
0
0
13
3
0
0
0
0
0
0
6
2
0
64 |
Page 1 of 2
Institute of Taoist Education and Acupuncture |
Colorado Chinese Medicine University |
|
Colorado School of Trades |
|
Bel-Rea Institute of Animal Technology |
|
Iliff School of Theology |
|
Concorde Career College-Aurora |
|
Arizona College of Nursing-Aurora |
|
Platt College-Aurora |
|
Pima Medical Institute-Aurora |
|
Spartan College of Aeronautics and Technology |
|
Taft University System |
|
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
495
1
496
41
24
10
9
1
1
0
13
0
1
0
0
100
0
495
15
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
19
13
21
19
17
0
0
0
3
5
1
2
0
0
0
0
3
0
0
31 |
NA
NA
321
0
321
53
6
6
17
2
1
2
13
0
321
0
39
61
0
0
14
14,199
15,790
16,576
17,406
NA
NA
NA
38,890
38,890
38,890
29,909
29,909
29,909
143
NA
NA
NA
NA
NA
23
0
0
1
4
4
1
1
0
0
1
11
0
0
0
46 |
NA
NA
290
0
290
26
17
3
41
0
1
12
0
0
290
0
61
39
0
0
25
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
18
NA
NA
NA
NA
NA
14
0
0
0
5
2
0
0
0
0
0
0
4
0
0
25 |
36
100
215
0
215
50
9
5
30
0
0
3
2
0
215
0
27
73
0
0
10
20,590
20,590
20,590
20,590
NA
NA
NA
47,062
47,062
47,062
29,107
29,107
29,107
0
60
0
0
0
0
22
0
0
1
1
4
4
1
0
4
0
2
2
0
0
41 |
100
32
117
95
212
31
18
5
40
0
1
4
0
0
212
0
29
71
0
0
20
NA
NA
NA
23,760
NA
NA
NA
46,107
46,107
46,107
30,797
30,797
30,797
0
0
0
0
0
0
7
0
0
0
2
5
0
1
2
0
0
0
2
0
0
19 |
100
66
196
0
196
24
8
3
36
0
1
3
26
0
196
1
64
35
0
0
25
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
126
0
0
0
0
0
30
0
0
1
8
24
5
0
0
0
0
8
3
0
0
79 |
NA
NA
102
70
172
69
6
2
4
1
0
3
8
7
0
NA
NA
NA
NA
172
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
26
7
3
0
17
0
0
2
5
7
4
1
3
0
0
0
3
0
0
42 |
59
33
161
0
161
57
3
2
25
0
1
3
9
0
161
0
73
27
0
0
20
12,338
12,338
13,819
13,819
NA
NA
NA
35,743
35,743
35,743
20,893
20,893
20,893
21
NA
NA
NA
NA
NA
9
0
0
1
8
1
1
0
0
0
0
3
2
2
0
27 |
77
70
108
0
108
85
1
3
0
0
0
0
11
0
108
0
56
44
0
0
10
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
89
NA
NA
NA
NA
NA
7
0
0
0
7
3
0
0
0
0
0
2
0
0
0
19 |
NA
NA
54
30
84
67
4
8
4
0
1
4
12
1
0
NA
NA
NA
NA
84
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
18
0
0
0
23
0
0
0
0
4
2
0
0
0
0
0
3
0
0
32 |
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 |
Page 2 of 2
Sources: STI: PopStats and STI: Colossus
|