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Sumter 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.
 
Trinity College of Florida
Taylor College  
ATA Career Education  
Beacon College  
Warner University  
Webber International University  
Florida Polytechnic University  
Rasmussen University-Florida  
Florida Southern College  
Lake-Sumter State College  
College of Central Florida  
Polk State College  
Pasco-Hernando State College  
Saint Leo University  
Southeastern 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
74
50

4,802
5,598

10,400
53
12
2
24
0
1
4
3
2

9,167
41
51
9
0

1,233

26

27,520
28,320
30,148
31,732


52,152
52,152
52,152

50,052
50,052
50,052

41,132
41,132
41,132

138
936
364
40
20
0

376
0
0
4
31
102
29
18
88
5
64
1
72
10
0
800
72
11

5,208
5,023

10,231
25
19
1
14
0
0
2
32
8

7,603
2
47
51
0

2,628

20

24,640
25,550
27,050
28,360


49,748
49,748
49,748

47,416
47,416
47,416

34,024
34,024
34,024

187
1,287
1,031
68
0
0

260
0
0
7
43
138
52
35
24
3
111
45
56
5
1
780
NA
NA

3,698
5,751

9,449
52
6
3
25
0
0
4
8
1

9,449
24
57
19
0

0

22

3,155
3,155
3,155
3,155


NA
NA
NA

18,440
18,440
27,317

9,193
9,193
18,070

1,251
189
0
0
0
0

194
0
1
16
11
32
24
43
78
0
4
12
100
28
0
543
NA
NA

2,683
5,280

7,963
42
17
3
30
0
0
4
2
1

7,963
21
51
28
0

0

20

3,366
3,366
3,366
3,366


NA
NA
NA

17,401
17,401
26,307

12,221
12,221
21,127

1,296
377
0
0
0
0

237
0
0
12
133
32
17
20
34
0
7
0
117
15
0
624
NA
NA

2,454
3,293

5,747
58
10
3
20
0
0
4
2
2

5,747
17
57
26
0

0

16

2,710
2,710
2,710
2,710


NA
NA
NA

20,422
20,422
28,229

9,163
9,163
16,970

880
206
0
0
0
0

179
0
0
7
30
36
28
23
70
0
34
1
89
20
1
518
NA
NA

1,705
3,359

5,064
50
11
4
27
0
1
3
3
1

5,064
25
54
21
0

0

25

3,292
3,292
3,292
3,292


NA
NA
NA

20,626
20,626
30,610

9,394
9,394
19,378

747
81
0
0
0
0

104
0
0
9
18
62
33
24
38
0
1
0
28
7
1
325
59
10

2,909
285

3,194
66
7
3
15
0
0
4
1
4

2,626
0
95
5
0

568

10

38,980
38,980
40,500
42,360


60,800
60,800
60,800

60,800
60,800
60,800

47,000
47,000
47,000

0
600
167
11
40
0

227
0
13
5
65
33
25
22
75
7
96
2
61
14
9
654
NA
NA

1,393
1,641

3,034
32
25
3
22
0
0
2
14
0

3,034
0
33
66
0

0

9

12,054
11,707
11,291
15,117


NA
NA
NA

30,910
30,910
30,910

20,974
20,974
20,974

1,777
1,054
0
0
0
0

212
0
0
0
58
36
0
0
0
0
0
0
17
0
0
323
56
28

1,497
121

1,618
55
6
6
25
0
0
5
1
2

1,569
1
95
5
0

49

17

4,940
4,940
4,940
4,940


23,080
23,080
39,145

23,080
23,080
39,145

10,140
10,140
26,205

0
214
36
0
0
0

89
1
0
1
23
50
29
31
4
0
13
2
23
1
0
267
78
18

863
67

930
42
31
1
11
0
1
1
3
10

879
1
95
4
0

51

18

28,268
29,534
30,798
32,150


52,008
52,008
52,008

49,904
49,904
49,904

38,570
38,570
38,570

7
138
17
0
0
0

45
0
0
1
0
12
10
0
38
8
1
6
11
0
0
132
48
33

730
161

891
42
26
1
21
0
1
4
0
4

798
5
85
10
0

93

13

24,200
26,744
28,044
28,160


42,970
42,970
42,970

45,230
45,230
45,230

33,430
33,430
33,430

18
133
31
0
0
0

56
0
0
1
2
11
7
3
46
5
8
0
13
7
0
159
60
35

490
37

527
68
13
4
9
0
0
5
0
1

527
0
93
7
0

0

12

43,250
45,070
47,110
49,230


71,142
71,142
71,142

69,642
69,642
69,642

52,774
52,774
52,774

23
93
0
0
0
0

38
0
0
3
31
38
0
6
17
0
9
1
16
0
5
164
NA
NA

226
0

226
33
40
0
12
0
0
4
10
0

226
0
25
75
0

0

17

12,959
13,480
13,480
14,895


NA
NA
NA

33,811
33,811
33,811

25,176
25,176
25,176

11
0
0
0
0
0

15
0
0
1
3
1
2
1
0
0
0
2
3
0
0
28
NA
NA

216
0

216
33
48
0
10
0
0
2
6
0

216
0
22
77
0

0

24

12,039
12,117
13,263
13,263


NA
NA
NA

36,432
36,432
36,432

26,160
26,160
26,160

81
NA
NA
NA
NA
NA

17
0
0
0
5
4
3
1
0
0
0
3
2
0
0
35
96
41

153
36

189
48
22
1
18
1
0
5
5
1

189
19
54
26
1

0

12

16,300
16,300
16,300
16,300


27,750
27,750
27,750

26,525
26,525
26,525

20,150
20,150
20,150

3
43
0
0
0
0

13
0
0
1
5
6
2
1
4
0
0
0
2
6
0
40


Sources: STI: PopStats and STI: Colossus