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Oxford 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.
 
The Landing School
Institute for Doctoral Studies in the Visual Arts  
Maine College of Health Professions  
Maine College of Art & Design  
White Mountains Community College  
Bates College  
York County Community College  
Bowdoin College  
University of Maine at Farmington  
Central Maine Community College  
Unity Environmental University  
University of New England  
Southern Maine Community College  
University of Southern Maine  
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
79
16

4,016
3,512

7,528
78
6
2
4
0
1
3
4
1

5,520
18
63
19
1

2,008

14

9,528
9,904
10,120
10,920


26,812
26,812
42,996

26,812
26,812
42,996

15,162
15,162
31,346

0
934
570
11
84
0

392
6
0
19
58
47
207
43
93
8
67
0
138
44
0
1,122
NA
NA

2,941
4,264

7,205
76
9
2
5
0
0
3
3
1

7,205
20
57
23
0

0

19

3,880
3,874
3,797
3,797


18,065
18,065
20,945

18,983
18,983
21,863

11,163
11,163
14,043

684
NA
NA
NA
NA
NA

213
0
0
2
59
29
12
9
14
2
25
0
21
6
0
392
89
13

4,389
2,084

6,473
74
5
8
2
0
0
1
8
1

3,863
1
75
24
0

2,610

12

38,750
39,820
40,950
42,550


63,690
63,690
63,690

60,250
60,250
60,250

48,750
48,750
48,750

0
549
461
52
329
0

384
42
0
16
157
70
54
43
59
27
105
0
131
28
0
1,116
82
10

5,776
583

6,359
69
6
1
12
0
1
5
6
0

5,655
0
41
58
0

704

36

12,640
12,640
12,640
12,640


26,876
26,876
26,876

23,480
23,480
23,480

14,720
14,720
14,720

0
225
226
0
0
0

144
1
0
1
53
25
16
0
14
0
11
2
21
8
0
296
NA
NA

1,667
2,454

4,121
69
8
1
4
0
1
3
14
2

4,121
28
51
21
0

0

21

3,844
3,864
3,760
3,864


17,624
17,624
20,504

18,428
18,428
21,308

9,714
9,714
12,594

378
NA
NA
NA
NA
NA

105
0
0
1
18
20
5
7
9
0
10
0
5
7
0
187
98
18

1,046
904

1,950
83
1
1
4
0
0
3
7
0

1,605
25
67
8
0

345

12

9,572
9,590
9,890
10,989


26,363
26,363
38,453

26,363
26,363
38,453

15,393
15,393
27,483

0
280
65
0
0
0

96
0
0
2
21
15
14
3
32
3
43
1
40
14
0
284
8
57

1,845
5

1,850
52
5
11
13
0
0
10
0
7

1,850
1
98
1
0

0

9

56,350
58,322
61,528
64,910


85,100
85,100
85,100

NA
NA
NA

NA
NA
NA

0
480
0
0
0
0

231
0
0
31
0
139
49
77
91
8
212
3
104
24
12
981
NA
NA

526
1,256

1,782
85
2
2
4
0
0
3
3
1

1,782
36
40
24
0

0

21

3,720
3,866
3,760
3,866


20,283
20,283
23,163

29,006
29,006
31,886

9,093
9,093
11,973

152
NA
NA
NA
NA
NA

58
0
2
1
22
8
5
1
8
0
4
0
1
0
0
110
13
43

1,753
0

1,753
61
4
7
9
0
0
8
1
10

1,753
1
99
0
0

0

10

57,353
59,062
61,066
63,478


83,532
83,532
83,532

NA
NA
NA

NA
NA
NA

0
439
0
0
0
0

180
0
0
25
51
81
54
38
38
12
147
7
60
26
8
727
NA
NA

163
345

508
78
1
1
6
0
1
3
11
0

508
11
46
43
0

0

7

7,050
7,050
7,050
7,050


NA
NA
NA

26,994
26,994
35,244

15,482
15,482
23,732

97
NA
NA
NA
NA
NA

39
0
0
2
23
2
2
2
0
0
7
0
3
0
0
80
78
17

456
18

474
73
2
3
7
0
0
9
6
0

422
0
93
6
0

52

8

38,310
38,690
39,830
41,398


60,398
60,398
60,398

52,848
52,848
52,848

44,748
44,748
44,748

0
80
33
0
0
0

55
0
0
5
26
14
7
2
6
1
10
0
12
0
0
138
33
100

122
106

228
86
5
1
0
0
1
2
5
0

228
0
33
66
0

0

13

13,905
14,911
16,238
17,827


NA
NA
NA

26,827
26,827
26,827

22,027
22,027
22,027

67
11
0
0
0
0

13
0
0
0
4
4
2
0
0
0
0
0
0
0
0
23
NA
NA

46
47

93
62
12
4
14
0
0
2
2
3

0
NA
NA
NA
NA

93

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
1
9
0
0

2
0
0
0
0
2
0
0
0
0
0
0
1
0
0
5
NA
NA

43
0

43
84
2
0
5
0
0
0
2
7

43
2
28
70
0

0

7

25,012
26,012
26,012
27,700


NA
NA
NA

46,043
46,043
46,043

33,343
33,343
33,343

10
NA
NA
NA
NA
NA

6
0
0
0
0
2
1
0
0
0
0
0
4
0
0
13


Sources: STI: PopStats and STI: Colossus