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.
|
University of Fort Lauderdale |
South Florida Bible College and Theological Seminary |
|
Arizona College of Nursing-Fort Lauderdale |
|
South University-West Palm Beach |
|
Southern Technical College |
|
Academy for Nursing and Health Occupations |
|
Galen Health Institutes-Miami Campus |
|
Southeastern College-West Palm Beach |
|
Cambridge College of Healthcare & Technology |
|
Ave Maria University |
|
Everglades University |
|
Lynn University |
|
Palm Beach Atlantic University |
|
Florida SouthWestern State College |
|
Florida Gulf Coast University |
|
Keiser University-Ft Lauderdale |
|
Nova Southeastern University |
|
Palm Beach State College |
|
Broward College |
|
Florida Atlantic 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
|
73
22
20,948
9,842
30,790
40
17
4
27
0
0
4
1
7
24,614
6
80
14
0
6,176
23
4,879
4,879
4,879
4,879
24,845
24,845
37,290
28,619
28,619
41,064
13,779
13,779
26,224
415
5,640
1,628
125
107
0
999
104
36
18
236
660
519
178
99
18
194
0
180
2
5
3,248 |
NA
NA
9,462
19,678
29,140
12
30
4
35
0
0
4
3
12
29,140
13
58
29
0
0
30
2,830
2,830
2,830
2,830
NA
NA
NA
40,334
40,334
46,456
13,984
13,984
20,106
4,945
599
0
0
0
0
572
0
0
23
311
168
64
113
33
0
69
3
218
45
0
1,619 |
NA
NA
7,411
16,958
24,369
27
28
3
34
0
0
3
2
2
24,369
12
60
28
0
0
29
2,444
3,050
3,050
3,050
NA
NA
NA
25,730
25,730
33,590
12,905
12,905
20,765
3,270
499
0
0
0
0
550
0
0
17
221
62
50
75
161
1
43
0
180
61
5
1,426 |
73
16
15,668
5,209
20,877
30
17
10
32
0
0
3
4
5
7,219
1
91
8
0
13,658
17
33,430
34,570
35,700
37,080
59,676
59,676
59,676
65,137
65,137
65,137
47,119
47,119
47,119
0
1,496
2,646
422
1,297
0
1,153
45
0
53
333
461
566
326
139
122
225
4
561
54
0
4,042 |
97
60
13,236
6,866
20,102
21
19
2
28
0
1
2
25
2
17,634
0
39
60
0
2,468
14
21,008
22,000
23,248
24,136
50,586
50,586
50,586
47,432
47,432
47,432
31,904
31,904
31,904
3,238
1,726
700
99
21
0
1,463
0
0
36
0
242
335
33
78
0
14
0
894
0
0
3,095 |
77
23
12,353
3,814
16,167
58
6
2
24
0
0
3
4
2
14,227
2
89
9
0
1,940
21
6,118
6,118
6,118
6,118
23,732
23,732
42,776
23,732
23,732
42,776
12,818
12,818
31,862
398
2,910
491
5
67
0
643
0
0
27
101
275
92
115
131
19
34
3
165
33
1
1,639 |
NA
NA
5,394
8,466
13,860
34
13
2
37
0
0
2
9
3
13,860
19
60
21
0
0
28
3,401
3,401
3,401
3,401
19,989
19,989
29,567
22,700
22,700
32,278
9,945
9,945
19,523
2,043
297
0
0
0
0
302
0
0
6
117
64
57
46
43
24
45
0
70
4
0
778 |
88
10
2,842
1,033
3,875
49
10
2
18
0
0
7
4
9
3,094
22
72
6
0
781
13
33,476
34,134
35,900
37,990
58,236
58,236
58,236
57,933
57,933
57,933
46,304
46,304
46,304
0
428
180
5
83
0
256
0
0
3
18
88
17
19
73
4
28
1
57
0
2
566 |
74
13
2,984
517
3,501
47
10
2
18
0
0
3
4
15
2,823
0
90
10
0
678
16
39,350
40,400
41,550
42,950
69,838
69,838
69,838
67,816
67,816
67,816
56,088
56,088
56,088
9
552
312
19
0
0
211
0
0
7
67
50
42
29
74
8
80
1
72
12
4
657 |
86
56
2,685
48
2,733
44
19
2
13
0
1
2
17
0
2,369
0
23
77
0
364
17
18,320
18,920
20,000
20,768
NA
NA
NA
41,960
41,960
41,960
28,536
28,536
28,536
0
296
146
0
0
0
173
0
0
3
0
45
29
0
0
0
0
0
134
0
0
384 |
45
29
1,268
67
1,335
70
3
4
16
0
1
0
4
2
1,250
1
97
3
0
85
12
23,188
24,610
26,354
28,222
46,717
46,717
46,717
48,029
48,029
48,029
38,979
38,979
38,979
0
265
18
1
0
0
88
0
0
3
9
28
9
9
43
4
13
1
9
5
0
221 |
NA
NA
649
388
1,037
20
47
2
25
0
1
5
0
0
1,037
0
35
65
0
0
25
14,908
14,908
14,908
14,908
NA
NA
NA
31,970
31,970
31,970
18,436
18,436
18,436
227
0
0
0
0
0
57
0
0
1
7
2
8
0
0
0
0
8
2
0
0
85 |
81
62
371
279
650
9
52
1
30
0
0
2
7
0
650
0
40
60
0
0
12
20,246
21,346
22,724
23,584
NA
NA
NA
39,760
39,760
39,760
30,968
30,968
30,968
195
2
0
0
0
0
75
0
0
0
0
28
17
0
0
0
0
0
67
0
0
187 |
NA
NA
378
257
635
10
47
2
24
0
0
1
14
0
635
0
22
77
0
0
12
NA
14,960
16,400
16,400
NA
NA
NA
37,109
37,109
37,109
21,449
21,449
21,449
77
0
0
0
0
0
37
0
0
0
4
5
0
1
0
0
1
0
8
0
0
56 |
NA
NA
559
0
559
8
82
1
8
0
0
1
1
0
559
1
19
80
0
0
25
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
47
NA
NA
NA
NA
NA
22
0
1
0
1
3
1
1
0
0
0
0
7
0
0
36 |
NA
NA
532
0
532
50
28
1
13
1
0
4
3
0
532
0
53
47
0
0
20
13,895
14,004
14,742
14,742
NA
NA
NA
31,428
31,428
31,428
19,629
19,629
19,629
244
1
NA
NA
NA
NA
27
0
0
1
14
1
0
0
0
0
1
0
2
0
0
46 |
NA
NA
387
81
468
26
39
6
22
0
1
2
4
1
284
0
32
68
0
184
13
17,014
17,014
17,014
18,238
NA
NA
NA
36,577
36,577
36,577
25,279
25,279
25,279
17
77
83
0
0
0
28
0
0
0
19
10
1
1
0
0
1
0
4
0
0
64 |
NA
NA
284
128
412
10
66
2
19
0
0
2
0
0
412
0
38
62
0
0
20
20,090
24,160
25,120
25,973
NA
NA
NA
48,320
48,320
48,320
33,010
33,010
33,010
0
25
0
0
0
0
26
0
0
0
7
8
0
1
2
0
0
0
3
0
0
47 |
NA
NA
168
187
355
22
17
1
21
0
0
2
5
32
273
12
18
67
2
82
18
7,140
7,140
7,380
7,380
NA
NA
NA
25,161
25,161
25,161
12,701
12,701
12,701
30
18
14
0
0
0
9
0
0
2
3
6
4
2
0
0
2
6
12
0
0
46 |
NA
NA
28
252
280
21
42
0
30
0
0
2
3
1
260
2
63
29
7
20
10
7,410
7,410
7,410
9,810
NA
NA
NA
30,610
30,610
30,610
18,210
18,210
18,210
2
7
3
0
0
0
9
0
0
0
7
4
3
0
0
0
1
0
1
0
0
25 |
Page 1 of 3
Key College |
Florida Academy of Nursing |
|
Hope College of Arts and Sciences |
|
Chancellor Institute |
|
Premiere International College |
|
Jose Maria Vargas University |
|
Ultrasound Medical Institute |
|
Florida Career College-Margate |
|
Concorde Career Institute-Miramar |
|
Saint Vincent de Paul Regional Seminary |
|
Florida Career College-Boynton Beach |
|
Hobe Sound Bible College |
|
Atlantic Institute of Oriental Medicine |
|
HCI College |
|
Florida Career College-West Palm Beach |
|
Florida Career College-Lauderdale Lakes |
|
United International College |
|
Hodges University |
|
Ave Maria School of Law |
|
City College-Hollywood |
|
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
|
100
100
269
6
275
35
37
3
23
1
0
1
0
0
275
0
11
89
0
0
15
14,876
14,876
18,615
18,615
NA
NA
NA
41,126
41,126
41,126
28,573
28,573
28,573
34
4
0
0
0
0
46
0
0
0
10
2
6
2
1
0
0
0
5
2
0
74 |
NA
NA
268
5
273
68
2
3
19
0
0
0
5
1
0
NA
NA
NA
NA
273
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
100
0
26
0
0
3
9
11
11
2
2
0
0
1
4
2
0
71 |
NA
NA
145
87
232
15
4
0
19
0
0
15
41
6
173
0
32
68
0
59
8
14,660
14,780
15,500
15,580
NA
NA
NA
33,380
33,380
33,380
21,380
21,380
21,380
62
78
60
0
0
0
55
0
0
1
13
13
0
3
0
0
0
0
7
1
0
93 |
NA
NA
206
0
206
9
10
0
7
0
2
0
0
71
175
0
73
27
1
31
20
8,907
8,907
8,907
10,320
NA
NA
NA
87,620
87,620
87,620
36,420
36,420
36,420
5
11
5
0
0
0
7
0
0
0
0
2
0
0
0
0
2
2
4
0
0
17 |
NA
NA
204
0
204
1
35
0
10
0
0
0
53
0
204
0
43
57
0
0
21
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
17
NA
NA
NA
NA
NA
7
0
0
0
0
2
0
0
0
0
0
0
16
0
0
25 |
NA
NA
193
0
193
4
34
1
23
0
0
1
38
0
193
0
53
46
1
0
21
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
NA
NA
NA
NA
NA
4
0
0
0
0
3
1
0
0
0
0
0
14
0
0
22 |
NA
NA
70
99
169
14
60
1
21
1
0
3
1
0
169
0
34
66
0
0
4
17,670
18,150
18,558
20,028
NA
NA
NA
44,516
44,516
44,516
32,476
32,476
32,476
114
0
0
0
0
0
31
0
0
1
9
8
2
1
0
0
0
13
13
0
0
78 |
NA
NA
163
0
163
43
9
13
20
4
0
0
10
1
74
0
1
97
1
89
15
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
13
13
0
0
10
7
0
0
1
0
1
3
0
0
0
0
1
3
0
0
16 |
NA
NA
73
83
156
60
6
0
8
0
0
6
12
9
141
2
52
46
1
15
10
7,048
8,520
8,860
9,068
20,464
20,464
20,464
20,768
20,768
20,768
10,168
10,168
10,168
5
22
1
0
0
0
10
0
0
2
4
6
2
0
0
0
3
1
7
2
0
37 |
NA
NA
149
0
149
3
25
1
9
0
0
1
62
0
149
0
50
50
0
0
21
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
4
NA
NA
NA
NA
NA
4
0
0
0
0
2
0
0
0
0
0
0
7
0
0
13 |
NA
NA
107
33
140
44
1
7
23
1
0
1
0
24
0
NA
NA
NA
NA
140
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
31
0
0
0
17
0
1
0
0
14
2
2
0
0
14
0
5
4
0
59 |
99
52
137
0
137
1
34
1
18
0
1
1
45
0
137
0
51
49
0
0
27
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
83
NA
NA
NA
NA
NA
13
0
0
1
3
13
4
0
0
0
0
7
2
0
0
43 |
NA
NA
130
0
130
5
51
1
18
0
0
1
25
0
130
0
45
54
1
0
21
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
7
NA
NA
NA
NA
NA
4
0
0
0
0
2
0
0
0
0
0
0
12
0
0
18 |
NA
NA
110
0
110
11
66
0
21
0
0
2
0
0
110
0
28
72
0
0
10
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
53
NA
NA
NA
NA
NA
5
0
0
0
0
0
3
0
0
0
0
0
5
0
0
13 |
NA
NA
71
36
107
0
0
0
92
0
0
0
0
8
97
0
0
98
2
10
10
10,480
10,740
11,260
11,260
NA
NA
NA
24,390
24,390
24,390
16,740
16,740
16,740
3
4
3
0
0
0
9
0
0
1
1
4
0
0
0
0
0
0
1
0
0
16 |
NA
NA
106
0
106
8
57
17
17
0
0
1
0
0
106
0
8
92
0
0
15
19,289
21,125
21,125
21,125
NA
NA
NA
34,822
34,822
34,822
24,895
24,895
24,895
2
NA
NA
NA
NA
NA
7
0
0
0
1
2
1
0
0
0
0
0
1
0
0
12 |
90
100
102
0
102
23
58
0
17
1
0
2
0
0
102
0
7
93
0
0
16
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
NA
NA
NA
NA
NA
4
0
0
0
0
2
1
0
0
0
0
1
0
0
0
8 |
NA
NA
82
0
82
2
93
2
2
0
0
0
0
0
82
0
3
97
0
0
24
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
48
NA
NA
NA
NA
NA
1
0
0
0
0
2
2
2
0
0
0
0
8
0
0
15 |
NA
NA
54
0
54
6
81
2
6
0
0
0
6
0
54
0
6
93
2
0
11
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
4
0
0
0
0
10
0
0
1
3
1
1
1
0
1
1
1
1
0
0
21 |
NA
NA
18
1
19
47
26
0
16
0
0
0
0
11
19
0
32
68
0
0
6
11,085
11,085
9,285
9,285
NA
NA
NA
23,473
23,473
23,473
13,406
13,406
13,406
2
NA
NA
NA
NA
NA
4
0
0
1
0
2
2
0
0
0
0
0
1
0
0
10 |
Page 2 of 3
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
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Page 3 of 3
Sources: STI: PopStats and STI: Colossus
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