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Stephenson 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.
 
Saint Anthony College of Nursing
Stautzenberger College-Rockford Career College  
Rockford University  
Rasmussen University-Illinois  
Highland Community College  
Rock Valley College  
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

2,405
3,075

5,480
56
8
4
25
0
0
2
4
0

5,480
12
63
25
1

0

18

4,124
4,124
4,124
4,274


NA
NA
NA

19,153
25,153
36,223

9,046
15,046
26,116

819
NA
NA
NA
NA
NA

184
0
0
6
6
52
17
18
96
0
37
0
66
0
0
482
NA
NA

571
798

1,369
74
10
1
7
0
1
3
2
2

1,369
26
49
24
2

0

12

4,494
4,494
4,624
4,696


NA
NA
NA

17,299
19,579
19,723

10,996
13,276
13,420

208
NA
NA
NA
NA
NA

66
0
0
3
6
21
12
6
31
0
20
2
14
0
0
181
NA
NA

449
883

1,332
16
50
3
14
0
1
2
14
0

1,332
0
19
81
0

0

7

12,311
11,743
11,738
13,546


NA
NA
NA

29,314
29,314
29,314

19,378
19,378
19,378

967
0
0
NA
NA
NA

111
0
0
0
25
16
3
0
0
0
0
0
9
0
0
164
57
11

979
270

1,249
43
13
2
16
0
0
3
14
8

968
0
82
17
0

281

10

33,050
34,000
35,050
37,300


52,900
52,900
52,900

50,150
50,150
50,150

42,400
42,400
42,400

0
204
102
0
0
0

103
0
0
2
0
30
7
5
19
3
2
0
28
0
0
199
NA
NA

733
0

733
35
30
1
28
0
0
5
1
0

733
0
44
56
0

0

28

16,649
16,799
16,699
16,699


NA
NA
NA

33,753
33,753
33,753

19,353
19,353
19,353

81
NA
NA
NA
NA
NA

26
0
0
1
1
16
1
1
0
0
0
9
7
0
0
62
100
100

106
122

228
71
6
7
15
0
0
0
0
0

152
0
55
45
0

76

6

27,460
27,611
27,811
27,811


NA
NA
NA

41,877
41,877
41,877

33,711
33,711
33,711

0
89
5
0
0
16

29
0
0
1
2
4
2
0
1
0
0
0
5
0
0
44


Sources: STI: PopStats and STI: Colossus