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 Health Sciences and Pharmacy in St. Louis |
Fontbonne University |
|
Greenville University |
|
Harris-Stowe State University |
|
Logan University |
|
Ranken Technical College |
|
McKendree University |
|
Kaskaskia College |
|
Lewis and Clark Community College |
|
Missouri Baptist University |
|
St Charles Community College |
|
Lindenwood University |
|
Webster University |
|
Southwestern Illinois College |
|
Maryville University of Saint Louis |
|
Southern Illinois University-Edwardsville |
|
Saint Louis Community College |
|
University of Missouri-St Louis |
|
Washington University in St Louis |
|
Saint Louis 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
|
81
14
12,904
4,298
17,202
53
7
9
6
0
0
4
2
18
10,519
28
65
7
0
6,683
8
47,124
48,824
50,644
53,244
73,884
73,884
73,884
73,884
73,884
73,884
59,314
59,314
59,314
0
1,765
1,011
271
363
0
975
90
22
53
15
474
292
191
138
67
284
0
327
1
30
2,959 |
12
47
14,282
2,218
16,500
36
7
14
9
0
0
5
2
27
8,267
1
91
8
0
8,233
7
57,386
58,866
60,590
62,982
88,488
88,488
88,488
88,488
88,488
88,488
69,875
69,875
69,875
13
1,868
2,861
314
494
0
2,049
1,181
1,579
88
114
1,553
1,650
2,695
590
2,380
1,994
13
2,944
275
72
19,177 |
57
18
5,087
9,713
14,800
67
14
5
4
0
0
2
5
2
12,137
52
33
15
0
2,663
13
10,573
11,214
11,693
13,440
34,106
34,106
54,098
35,930
35,930
55,922
22,354
22,354
42,346
0
1,493
678
166
44
0
471
7
1
14
12
144
164
119
223
27
68
1
106
26
2
1,385 |
NA
NA
5,310
9,317
14,627
49
32
5
5
0
0
5
2
1
14,627
15
52
32
0
0
18
3,495
3,660
3,660
3,660
NA
NA
NA
17,216
18,686
20,546
14,082
15,552
17,412
1,899
0
0
0
0
0
506
0
0
22
82
144
231
78
24
2
115
0
243
49
3
1,499 |
97
18
8,967
3,078
12,045
60
13
3
6
0
0
3
7
7
8,975
1
86
12
0
3,070
15
12,219
12,219
12,558
12,922
30,246
30,246
30,246
30,246
30,246
30,246
19,684
19,684
19,684
0
2,151
872
9
122
90
688
0
0
26
186
94
122
120
168
17
239
18
257
64
23
2,022 |
94
23
4,358
5,525
9,883
64
14
4
8
0
1
3
4
3
6,062
1
62
37
0
3,821
13
27,166
27,166
27,166
27,166
44,766
44,766
44,766
44,766
44,766
44,766
32,766
32,766
32,766
0
964
1,234
131
116
0
474
0
0
3
0
64
26
36
90
3
18
0
23
0
0
737 |
NA
NA
2,736
5,219
7,955
59
21
1
8
0
0
6
5
1
7,955
21
49
29
1
0
17
3,660
3,660
3,810
3,870
NA
NA
NA
23,266
25,786
25,606
11,726
14,246
14,066
969
NA
NA
NA
NA
NA
269
0
0
9
20
26
53
49
114
0
81
0
20
0
0
641 |
58
15
4,219
3,387
7,606
36
17
2
5
0
0
3
2
34
2,204
0
79
21
0
5,402
15
28,700
28,700
29,840
30,730
53,108
53,108
53,108
56,704
56,704
56,704
43,504
43,504
43,504
0
554
1,752
1
26
0
362
0
0
14
44
92
61
31
85
1
12
0
87
12
0
801 |
66
20
4,540
2,748
7,288
65
14
2
5
0
0
4
4
6
4,933
3
78
18
0
2,355
13
18,100
18,640
19,300
21,100
36,200
36,200
36,200
41,600
41,600
41,600
25,400
25,400
25,400
0
1,001
696
35
0
0
414
0
0
6
98
89
46
24
151
0
51
0
32
0
0
911 |
NA
NA
3,157
2,745
5,902
68
8
2
6
0
0
5
6
2
5,902
11
70
18
1
0
20
2,880
2,880
3,000
3,000
NA
NA
NA
22,037
23,381
24,701
9,554
10,898
12,218
901
NA
NA
NA
NA
NA
179
0
0
5
62
44
11
13
29
0
40
2
45
5
0
435 |
64
34
1,544
4,097
5,641
35
5
1
0
0
0
1
55
1
4,889
22
72
7
0
752
21
29,360
30,548
33,316
33,122
52,020
52,020
52,020
48,729
48,729
48,729
39,263
39,263
39,263
22
382
203
20
0
0
134
0
0
3
2
28
13
4
69
4
8
0
37
0
0
302 |
NA
NA
1,327
2,869
4,196
79
8
2
4
0
0
3
5
0
4,196
36
49
15
0
0
16
4,144
4,144
4,340
3,552
NA
NA
NA
14,262
20,262
23,262
8,043
14,043
17,043
575
NA
NA
NA
NA
NA
147
0
0
2
0
60
28
47
62
0
17
0
23
0
0
386 |
NA
NA
1,170
2,277
3,447
86
4
1
2
0
0
4
4
0
3,447
41
41
18
0
0
20
4,560
4,560
4,560
4,800
NA
NA
NA
19,813
22,783
27,583
9,709
12,679
17,479
420
NA
NA
NA
NA
NA
89
0
0
1
24
26
24
12
18
0
26
7
10
0
1
238 |
64
26
1,683
392
2,075
62
12
1
6
0
0
6
5
8
1,605
1
86
13
0
470
16
32,200
33,050
33,430
34,070
50,050
50,050
50,050
46,860
46,860
46,860
38,960
38,960
38,960
3
321
148
26
0
0
107
0
0
1
35
11
10
11
59
3
16
0
12
0
3
268 |
NA
NA
1,248
448
1,696
64
21
2
4
0
1
2
6
0
1,696
1
71
28
0
0
11
15,947
16,259
16,960
17,490
34,978
34,978
34,978
42,364
42,364
42,364
26,052
26,052
26,052
439
14
0
0
0
0
125
0
0
0
30
4
26
7
0
0
6
0
11
0
0
209 |
90
72
1,120
462
1,582
72
11
3
2
0
1
5
4
2
272
1
46
53
0
1,310
9
6,700
6,600
7,800
9,000
NA
NA
NA
32,852
32,852
32,852
21,004
21,004
21,004
0
82
244
15
227
0
86
0
0
3
34
47
14
14
4
8
18
0
37
7
1
273 |
NA
NA
919
179
1,098
3
83
0
2
0
0
4
4
5
1,098
1
84
15
0
0
14
5,484
5,868
6,058
6,442
25,240
25,240
29,872
24,082
24,082
28,714
15,156
15,156
19,788
0
244
0
0
0
0
73
0
0
2
41
45
8
11
13
0
21
0
13
6
0
233 |
95
17
881
172
1,053
62
13
1
7
0
0
3
2
12
905
1
89
10
0
148
12
28,756
29,810
30,548
30,598
45,564
45,564
45,564
48,520
48,520
48,520
37,740
37,740
37,740
0
225
65
0
0
0
63
0
0
2
5
18
5
0
40
0
4
0
41
7
0
185 |
95
16
733
141
874
62
23
2
1
0
0
5
4
2
650
0
89
10
0
224
9
27,790
28,200
28,696
28,976
46,802
46,802
46,802
46,004
46,004
46,004
37,404
37,404
37,404
0
137
149
5
0
0
87
0
0
3
7
25
6
3
33
1
0
0
17
0
0
182 |
75
13
609
22
631
63
11
13
2
0
0
3
4
3
275
1
96
3
0
356
9
30,147
30,708
31,280
31,920
55,332
55,332
55,332
58,183
58,183
58,183
42,538
42,538
42,538
0
70
0
0
137
0
65
10
0
3
8
41
9
16
64
1
25
0
17
6
0
265 |
Page 1 of 2
Kenrick Glennon Seminary |
Aquinas Institute of Theology |
|
Eden Theological Seminary |
|
Stevens-The Institute of Business & Arts |
|
Ponce Health Sciences University-St Louis |
|
Urshan Graduate School of Theology |
|
American Trade School |
|
Midwest Institute |
|
Chamberlain University-Missouri |
|
Principia College |
|
Blackburn College |
|
St Louis College of Health Careers-Fenton |
|
Barnes-Jewish College Goldfarb School of Nursing |
|
Urshan College |
|
Concordia Seminary |
|
Covenant Theological Seminary |
|
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
195
412
607
74
8
8
3
0
0
3
3
1
0
NA
NA
NA
NA
607
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
88
0
3
0
33
0
0
4
15
8
2
4
0
0
13
2
7
0
0
88 |
NA
NA
273
327
600
65
5
2
2
0
0
4
17
5
0
NA
NA
NA
NA
600
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
50
4
0
8
35
0
0
5
7
9
7
6
9
0
2
13
16
0
0
109 |
84
62
443
71
514
71
5
1
16
0
1
5
1
0
514
1
82
17
0
0
21
5,556
5,556
7,420
8,506
17,175
17,175
17,175
22,270
22,270
22,270
14,072
14,072
14,072
9
66
0
0
0
0
20
0
0
1
0
5
0
0
0
0
1
0
7
0
0
34 |
NA
NA
394
105
499
67
19
4
0
0
0
4
5
1
426
0
50
50
0
73
6
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
342
30
0
11
0
62
0
0
3
13
9
4
7
0
0
1
0
7
0
0
106 |
100
78
291
139
430
34
57
0
2
0
0
2
4
0
401
0
14
86
0
29
12
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
148
38
6
0
0
0
28
0
0
0
2
5
3
1
0
0
1
3
4
0
0
47 |
80
10
379
10
389
64
5
1
9
0
0
2
18
0
389
1
80
18
1
0
9
24,950
25,570
26,055
26,758
39,078
39,078
39,078
41,158
41,158
41,158
31,158
31,158
31,158
0
69
0
0
0
0
43
0
0
1
14
22
6
3
16
1
3
0
7
4
1
121 |
44
71
332
6
338
38
7
1
5
0
0
3
3
43
338
3
92
6
0
0
5
30,720
30,820
32,130
33,280
48,650
48,650
48,650
45,280
45,280
45,280
35,280
35,280
35,280
0
71
0
0
0
0
63
0
0
5
4
41
21
12
36
1
58
0
20
24
6
291 |
83
100
100
228
328
53
36
2
4
0
0
1
4
0
328
0
34
66
0
0
8
19,469
19,469
19,629
19,686
NA
NA
NA
42,634
42,634
42,634
28,094
28,094
28,094
0
94
0
0
0
0
12
0
0
0
8
1
1
0
0
0
0
0
0
0
0
22 |
78
68
151
0
151
58
32
0
3
0
0
1
6
0
151
1
58
40
0
0
17
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
49
NA
NA
NA
NA
NA
9
0
0
0
2
2
0
0
0
0
0
0
1
0
0
14 |
NA
NA
140
0
140
54
41
1
2
0
0
2
0
0
140
0
39
61
0
0
12
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
NA
NA
NA
NA
NA
5
0
0
0
0
2
0
0
0
0
0
1
6
0
0
14 |
NA
NA
25
95
120
71
8
3
13
0
1
0
3
1
0
NA
NA
NA
NA
120
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
8
0
0
0
6
0
0
1
0
5
0
0
0
0
1
0
7
0
0
20 |
NA
NA
119
0
119
28
34
25
12
0
0
0
1
0
0
NA
NA
NA
NA
119
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
38
0
0
0
17
0
0
1
11
6
1
0
5
0
0
0
7
0
0
48 |
71
100
51
44
95
34
61
2
2
0
0
0
0
1
95
0
37
63
0
0
7
12,285
13,680
12,968
12,968
NA
NA
NA
31,089
31,089
31,089
18,526
18,526
18,526
21
16
0
0
0
0
6
0
0
0
0
2
2
0
0
0
0
2
1
0
0
13 |
NA
NA
54
31
85
52
44
1
0
0
0
1
0
2
0
NA
NA
NA
NA
85
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
20
7
0
0
11
0
0
1
2
6
2
1
1
0
4
0
3
0
0
31 |
NA
NA
55
28
83
66
6
4
16
0
0
2
0
6
0
NA
NA
NA
NA
83
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
14
3
0
0
15
0
0
0
2
11
1
0
0
0
0
0
2
0
0
31 |
NA
NA
75
0
75
96
0
0
4
0
0
0
0
0
0
NA
NA
NA
NA
75
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
11
0
0
0
17
0
0
3
1
5
4
1
4
0
12
0
4
0
0
51 |
Page 2 of 2
Sources: STI: PopStats and STI: Colossus
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