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Teller 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.
 
Colorado Academy of Veterinary Technology
Apex College of Veterinary Technology  
Colorado School of Trades  
Pima Medical Institute-Colorado Springs  
Nazarene Bible College  
Intellitec College-Colorado Springs  
Rocky Vista University  
Rocky Mountain College of Art and Design  
Colorado College  
United States Air Force Academy  
Red Rocks Community College  
Colorado School of Mines  
Colorado Christian University  
University of Colorado Colorado Springs  
Pikes Peak State College  
Colorado Technical University-Colorado Springs  
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

17,989
10,863

28,852
28
21
1
0
0
1
3
45
0

26,114
0
12
87
1

2,738

29

12,573
12,581
12,696
12,760


NA
NA
NA

24,360
24,360
24,360

14,819
14,819
14,819

2,323
3,025
1,275
0
118
0

460
0
0
5
105
83
53
7
2
0
8
371
22
0
0
1,116
NA
NA

4,332
8,056

12,388
53
7
4
24
0
1
7
2
1

12,388
18
45
36
0

0

21

3,967
3,981
4,055
4,302


NA
NA
NA

24,418
24,418
36,650

12,241
12,241
24,473

1,576
56
0
0
0
0

331
0
0
2
24
54
24
21
2
0
39
0
125
11
4
637
97
14

7,848
3,365

11,213
61
5
4
19
0
0
7
2
2

9,398
5
73
22
0

1,815

15

8,580
8,766
9,129
9,712


28,190
28,190
38,970

29,412
29,412
40,192

15,912
15,912
26,692

0
1,943
571
26
7
0

578
29
9
10
201
90
144
62
51
33
87
0
53
28
8
1,383
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
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
14
79

4,124
0

4,124
63
6
7
12
1
0
8
1
1

4,124
78
22
0
0

0

7

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
949
0
0
0
0

224
10
0
25
45
28
22
47
125
26
0
1
36
3
0
592
20
34

2,110
63

2,173
68
3
5
11
0
0
7
1
5

2,145
0
100
0
0

28

9

60,864
62,070
65,028
67,932


87,128
87,128
87,128

87,128
87,128
87,128

70,670
70,670
70,670

0
545
19
0
0
0

244
0
0
25
73
95
40
39
77
7
60
1
122
36
8
827
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
NA
NA

816
0

816
52
19
3
23
0
1
0
2
0

816
0
27
73
0

0

22

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

119
NA
NA
NA
NA
NA

24
0
0
1
3
7
10
1
1
0
0
5
2
0
0
54
NA
NA

14
570

584
76
8
2
8
0
1
4
0
0

584
0
8
86
6

0

6

10,320
10,320
10,002
10,002


NA
NA
NA

23,913
23,913
23,913

14,463
14,463
14,463

5
46
0
0
0
0

36
0
0
0
0
9
0
3
0
0
0
4
4
0
0
56
NA
NA

339
0

339
42
10
2
27
0
1
17
1
0

339
0
52
48
0

0

25

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

41
NA
NA
NA
NA
NA

15
0
0
0
6
2
0
0
0
0
0
0
4
0
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

22
8

30
67
0
3
20
0
3
3
3
0

30
0
55
45
0

0

4

13,750
13,750
13,850
13,850


NA
NA
NA

25,950
25,950
25,950

15,950
15,950
15,950

12
NA
NA
NA
NA
NA

7
0
0
0
0
1
1
0
0
0
0
0
0
0
0
9
NA
NA

11
14

25
68
8
0
12
0
8
0
4
0

25
0
32
68
0

0

2

17,354
18,082
18,606
19,721


NA
NA
NA

34,571
34,571
34,571

25,071
25,071
25,071

16
NA
NA
NA
NA
NA

7
0
0
0
0
2
1
0
0
0
0
0
0
0
0
10


Sources: STI: PopStats and STI: Colossus