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.
|
Beulah Heights University |
Gupton Jones College of Funeral Service |
|
DeVry University-Georgia |
|
Interactive College of Technology-Chamblee |
|
Luther Rice College & Seminary |
|
American InterContinental University-Atlanta |
|
Morehouse School of Medicine |
|
Agnes Scott College |
|
Oglethorpe University |
|
Atlanta Metropolitan State College |
|
Chamberlain University-Georgia |
|
Morehouse College |
|
Spelman College |
|
Clark Atlanta University |
|
Strayer University-Georgia |
|
Georgia Gwinnett College |
|
Emory University |
|
Georgia State University-Perimeter College |
|
Georgia State University |
|
Georgia Institute of Technology-Main Campus |
|
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
|
16
44
25,178
22,768
47,946
31
5
25
7
0
0
3
1
26
19,505
6
93
2
0
28,441
18
12,852
12,852
11,764
11,764
28,524
28,524
49,636
28,524
28,524
49,636
21,764
21,764
42,876
0
4,227
6,610
556
0
0
1,373
2,964
63
39
551
1,192
686
795
280
32
772
0
730
297
0
9,774 |
62
24
26,333
8,641
34,974
20
39
14
13
0
0
5
1
8
27,588
2
83
15
0
7,386
25
9,286
9,286
8,478
8,478
31,468
31,468
46,699
31,942
31,942
47,173
17,071
17,071
32,302
0
5,309
2,329
272
250
0
1,504
64
61
45
668
673
209
308
123
14
584
5
657
221
0
5,136 |
100
27
5,914
9,608
15,522
18
43
14
15
0
0
5
1
5
15,522
15
62
22
1
0
19
3,360
3,360
2,960
2,960
NA
NA
NA
26,424
26,424
32,776
11,553
11,553
17,905
2,040
NA
NA
NA
NA
NA
415
0
0
0
3
49
16
15
1
5
1
0
37
2
0
544 |
11
40
13,565
1,481
15,046
34
13
19
10
0
0
4
2
18
7,359
1
98
2
0
7,687
9
53,868
55,468
57,948
60,774
83,622
83,622
83,622
83,622
83,622
83,622
64,650
64,650
64,650
0
1,937
2,007
277
516
0
1,744
1,047
1,869
182
1,310
1,088
955
2,737
555
494
656
0
736
160
41
13,574 |
96
44
7,795
4,112
11,907
21
32
11
27
0
0
4
1
3
11,907
5
78
17
0
0
20
4,948
4,948
4,458
4,458
30,088
30,088
38,874
30,088
30,088
38,874
14,768
14,768
23,554
1
1,155
0
0
0
0
459
0
0
6
72
122
29
27
25
1
28
0
68
11
0
848 |
NA
NA
551
4,946
5,497
17
75
0
3
0
0
3
1
0
4,878
0
12
88
1
619
39
13,515
13,515
13,515
13,920
NA
NA
NA
25,158
25,158
25,158
15,720
15,720
15,720
270
514
218
0
0
0
45
0
0
1
40
38
7
0
0
0
0
25
3
0
0
159 |
65
6
3,841
294
4,135
1
60
0
1
0
0
6
31
1
3,495
3
95
2
0
640
16
21,695
24,012
24,730
26,446
43,676
43,676
43,676
43,676
43,676
43,676
31,658
31,658
31,658
0
452
145
36
0
0
247
18
0
0
5
37
62
31
57
1
70
0
157
1
0
686 |
34
20
2,532
1,101
3,633
3
74
1
0
0
1
1
20
1
3,633
2
73
25
0
0
11
25,766
28,181
28,885
30,058
51,366
51,366
51,366
51,366
51,366
51,366
35,073
35,073
35,073
0
420
0
0
0
0
231
0
0
2
26
87
43
32
18
6
59
0
126
13
4
647 |
51
24
2,374
364
2,738
0
98
0
0
0
0
1
0
0
2,738
1
86
13
0
0
13
29,468
29,468
29,468
31,725
51,623
51,623
51,623
62,824
62,824
62,824
38,099
38,099
38,099
0
398
0
0
0
0
186
0
0
0
61
59
81
24
40
0
39
0
87
0
3
580 |
96
68
484
1,104
1,588
15
64
6
10
0
1
2
2
0
1,588
0
24
76
0
0
13
19,469
19,469
19,629
19,686
NA
NA
NA
42,634
42,634
42,634
28,094
28,094
28,094
0
372
0
0
0
0
49
0
0
0
30
3
3
1
0
0
0
0
2
0
0
88 |
NA
NA
615
936
1,551
2
87
1
5
0
0
3
0
1
1,551
10
44
45
1
0
22
3,505
3,505
3,105
3,105
20,303
20,303
26,929
13,983
13,983
20,609
8,309
8,309
14,935
133
66
0
0
0
0
43
0
0
1
17
24
2
4
1
0
1
0
12
2
0
107 |
60
23
1,427
95
1,522
31
20
4
27
0
0
4
11
3
1,499
5
91
4
0
23
14
41,160
42,754
44,060
45,806
65,056
65,056
65,056
66,306
66,306
66,306
51,006
51,006
51,006
0
234
0
0
0
0
101
1
0
6
7
39
6
5
51
3
20
0
10
10
0
259 |
67
19
1,043
34
1,077
38
34
5
13
0
0
6
1
3
911
1
99
1
0
166
10
44,250
44,250
45,786
48,150
64,812
64,812
64,812
54,058
54,058
54,058
51,558
51,558
51,558
0
199
18
0
0
0
107
0
0
9
22
25
26
6
34
2
11
0
36
0
1
279 |
NA
NA
837
98
935
3
81
5
3
0
0
4
3
0
0
NA
NA
NA
NA
935
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
147
5
94
0
378
5
4
3
91
164
47
68
20
31
48
0
103
0
0
962 |
NA
NA
607
122
729
8
50
0
0
0
0
3
38
0
670
0
13
86
0
59
8
12,692
13,341
13,267
13,416
NA
NA
NA
24,661
24,661
24,661
16,401
16,401
16,401
159
144
52
0
0
0
15
0
0
0
1
2
2
1
0
0
0
6
0
0
0
27 |
34
75
106
450
556
49
42
3
3
0
0
0
2
0
214
0
13
81
6
342
10
8,448
9,088
9,808
10,538
NA
NA
NA
31,650
31,650
31,650
16,514
16,514
16,514
0
27
103
10
0
0
26
0
0
3
3
2
3
3
0
0
0
0
2
0
0
42 |
NA
NA
483
46
529
15
48
15
22
0
0
0
0
0
529
0
24
75
1
0
23
10,250
10,650
11,090
11,330
NA
NA
NA
24,630
24,630
24,630
16,630
16,630
16,630
40
NA
NA
NA
NA
NA
12
0
0
0
0
4
9
0
0
0
0
5
9
2
0
41 |
81
92
329
158
487
18
65
1
6
0
0
2
5
3
472
0
13
86
0
15
11
17,712
17,488
17,488
17,488
NA
NA
NA
40,132
40,132
40,132
25,596
25,596
25,596
78
141
19
0
0
0
24
0
0
0
30
6
0
0
0
0
0
0
0
0
0
60 |
NA
NA
235
216
451
38
49
0
12
0
0
0
0
0
451
0
27
73
0
0
24
11,720
12,320
16,935
21,000
NA
NA
NA
38,875
38,875
38,875
27,575
27,575
27,575
55
NA
NA
NA
NA
NA
13
0
0
0
12
1
2
0
0
0
0
0
3
0
0
31 |
NA
NA
249
126
375
10
47
21
9
1
2
0
10
1
158
0
11
84
4
217
6
8,731
8,492
8,492
8,492
NA
NA
NA
21,692
21,692
21,692
9,992
9,992
9,992
6
9
14
5
0
0
23
0
0
1
2
15
3
0
0
0
3
0
11
0
0
58 |
Page 1 of 2
Interdenominational Theological Center |
Interactive College of Technology-Morrow |
|
Gwinnett College-Sandy Springs |
|
Gwinnett College-Lilburn |
|
Columbia Theological Seminary |
|
Atlanta Institute of Music and Media |
|
Reformed University |
|
Morris Brown College |
|
Atlanta's John Marshall Law School |
|
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
240
110
350
35
40
7
12
0
2
0
3
1
0
NA
NA
NA
NA
350
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
86
0
22
0
0
2
7
10
1
1
0
0
0
0
9
0
0
52 |
NA
NA
261
82
343
0
94
0
3
0
1
2
0
0
343
0
49
50
0
0
14
9,558
9,558
9,558
9,558
NA
NA
NA
29,613
29,613
29,613
19,079
19,079
19,079
0
17
0
0
0
0
21
0
0
0
3
10
4
0
1
0
4
0
6
4
0
53 |
73
79
326
5
331
4
1
46
10
0
0
0
0
39
287
1
16
82
0
44
15
5,444
5,444
5,444
5,360
NA
NA
NA
21,210
21,210
21,210
11,210
11,210
11,210
0
8
2
0
0
0
10
0
0
2
6
2
3
0
0
0
0
0
3
0
0
26 |
NA
NA
125
139
264
31
48
2
9
0
0
9
2
0
264
0
64
36
0
0
15
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
52
NA
NA
NA
NA
NA
6
0
0
0
8
4
1
0
0
0
0
0
0
0
0
19 |
NA
NA
111
46
157
29
43
8
1
0
0
1
2
17
0
NA
NA
NA
NA
157
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
46
0
18
0
20
0
0
9
12
16
2
3
6
0
5
6
12
0
0
91 |
NA
NA
62
70
132
10
67
3
19
0
0
0
2
0
132
0
36
64
0
0
7
9,925
9,925
10,500
10,850
NA
NA
NA
41,046
41,046
41,046
21,200
21,200
21,200
13
NA
NA
NA
NA
NA
12
0
0
0
2
2
3
0
0
0
0
3
2
0
0
24 |
NA
NA
53
61
114
21
57
4
18
0
0
0
0
0
114
0
28
72
0
0
9
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1
NA
NA
NA
NA
NA
7
0
0
0
0
1
2
0
0
0
0
2
0
0
0
12 |
NA
NA
113
0
113
0
88
4
8
0
0
0
0
0
113
0
21
77
2
0
12
10,850
10,420
10,850
11,210
NA
NA
NA
24,390
24,390
24,390
16,390
16,390
16,390
3
NA
NA
NA
NA
NA
2
0
0
0
0
2
0
0
0
0
0
2
4
0
0
10 |
NA
NA
46
15
61
3
93
0
0
0
0
3
0
0
0
NA
NA
NA
NA
61
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
32
0
0
14
10
2
0
0
4
2
4
1
0
0
0
0
12
1
0
36 |
Page 2 of 2
Sources: STI: PopStats and STI: Colossus
|