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Jefferson 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.
 
Louisville Presbyterian Theological Seminary
Caris College  
MedQuest College  
Mid-America College of Funeral Service  
ATA College  
Simmons College of Kentucky  
Spalding University  
Sullivan University  
Bellarmine University  
Indiana University-Southeast  
The Southern Baptist Theological Seminary  
Galen College of Nursing-Louisville  
University of Louisville  
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
26

15,864
6,275

22,139
61
15
6
8
0
0
6
1
4

16,194
10
75
14
1

5,945

14

12,162
12,370
12,520
12,828


33,706
33,706
50,052

34,054
34,054
50,400

22,930
22,930
39,276

0
2,932
1,762
159
415
0

1,524
552
0
7
159
263
681
567
500
977
335
4
576
118
37
6,300
NA
NA

2,504
2,290

4,794
49
12
3
10
0
0
3
22
0

4,184
0
13
86
0

610

12

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

327
1,068
101
0
0
0

126
0
0
1
12
20
0
2
0
0
3
0
29
0
0
193
97
63

2,046
2,197

4,243
76
3
4
1
0
0
0
0
16

1,004
15
75
10
0

3,239

16

11,896
11,896
12,000
13,086


24,428
24,428
24,428

18,746
18,746
18,746

16,286
16,286
16,286

4
102
422
97
0
80

75
23
0
13
78
31
18
14
23
3
74
1
40
1
0
394
83
38

2,359
1,393

3,752
80
6
2
6
0
0
4
1
0

3,286
4
74
21
0

466

13

7,715
7,827
7,941
8,179


23,013
23,013
36,877

23,617
23,617
37,481

10,557
10,557
24,421

8
720
171
0
0
0

221
0
0
6
9
25
16
18
36
0
29
1
57
8
0
426
94
20

2,559
434

2,993
72
10
3
7
0
0
5
1
2

2,351
4
90
6
0

642

13

43,470
44,920
46,030
47,180


65,344
65,344
65,344

65,344
65,344
65,344

55,094
55,094
55,094

0
632
183
15
83
0

220
0
0
6
24
63
35
19
82
6
24
0
46
11
6
542
NA
NA

1,699
1,156

2,855
44
21
2
12
0
1
4
15
1

2,535
1
23
76
0

320

14

13,860
14,220
14,220
14,220


32,676
32,676
32,676

33,893
33,893
33,893

26,339
26,339
26,339

306
105
114
0
36
0

215
0
0
12
0
68
0
4
0
0
38
5
200
0
6
548
99
15

1,079
476

1,555
59
20
2
5
0
0
2
11
1

734
15
64
22
0

821

11

25,975
26,750
27,300
27,850


45,344
45,344
45,344

55,422
55,422
55,422

40,766
40,766
40,766

0
181
227
26
74
0

120
0
0
3
4
28
7
7
37
2
17
1
28
2
0
256
98
61

335
54

389
0
39
0
1
0
0
0
60
0

389
1
42
56
2

0

8

6,990
16,390
16,398
16,398


NA
NA
NA

30,160
30,160
30,160

20,548
20,548
20,548

4
13
0
0
0
0

20
0
0
1
7
24
5
3
16
0
4
1
17
2
0
100
NA
NA

337
0

337
34
36
0
4
0
0
7
19
0

337
0
23
77
0

0

17

13,025
13,120
13,790
13,930


NA
NA
NA

32,678
32,678
32,678

24,002
24,002
24,002

59
NA
NA
NA
NA
NA

22
0
0
1
4
2
9
0
0
0
0
4
2
0
0
44
NA
NA

266
71

337
79
14
0
2
0
0
4
1
0

337
0
29
71
0

0

10

12,820
17,460
18,000
19,800


NA
NA
NA

36,510
36,510
36,510

23,300
23,300
23,300

75
16
0
0
0
0

16
0
0
0
2
2
3
0
0
0
0
3
1
0
0
27
NA
NA

273
0

273
50
35
2
9
0
0
3
0
0

273
0
59
41
0

0

11

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

34
NA
NA
NA
NA
NA

42
0
30
0
9
0
0
0
0
0
0
0
47
0
0
128
NA
NA

189
0

189
77
14
1
3
1
1
4
0
0

189
0
54
46
0

0

10

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

13
NA
NA
NA
NA
NA

15
0
0
0
5
1
0
0
0
0
0
0
1
0
0
22
NA
NA

75
19

94
65
19
5
4
0
0
2
0
4

0
NA
NA
NA
NA

94

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
24
3
0
0

12
0
0
3
2
14
2
1
1
0
5
0
12
0
0
52


Sources: STI: PopStats and STI: Colossus