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Montgomery 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.
 
St. John's College-Department of Nursing
Blackburn College  
Greenville University  
Lewis and Clark Community College  
University of Illinois Springfield  
Lincoln Land Community College  
Southern Illinois University-Edwardsville  
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
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
NA
NA

1,744
3,494

5,238
73
11
2
5
0
1
5
3
0

5,238
18
56
26
0

0

16

3,456
3,612
3,672
3,672


NA
NA
NA

18,641
21,929
25,217

8,570
11,858
15,146

750
NA
NA
NA
NA
NA

175
0
0
6
23
77
12
18
36
0
56
2
62
12
0
479
84
12

2,732
1,929

4,661
49
12
5
8
0
0
4
1
22

2,342
0
67
33
0

2,319

14

11,911
11,911
12,077
12,252


28,440
28,440
38,205

NA
NA
NA

17,002
17,002
26,767

0
662
496
7
0
0

240
0
0
5
34
130
43
41
47
1
68
0
123
28
10
770
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
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
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
NA
NA

69
24

93
84
9
2
2
0
0
2
1
0

76
0
51
49
0

17

8

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
34
0
0
0
0

15
0
0
0
5
1
0
0
0
2
0
0
1
0
0
24


Sources: STI: PopStats and STI: Colossus