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Waldo 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.
 
Maine Media College
College of the Atlantic  
Beal University  
Maine Maritime Academy  
Thomas College  
Colby College  
Kennebec Valley Community College  
Eastern Maine Community College  
Husson University  
University of Maine at Augusta  
University of 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
96
14

8,079
3,681

11,760
78
2
2
4
0
1
3
4
5

9,267
7
83
10
0

2,493

15

11,738
11,986
12,136
12,606


28,572
28,572
51,312

28,572
28,572
51,312

15,876
15,876
38,616

5
1,828
648
62
0
0

611
20
36
25
144
65
348
222
180
11
213
2
268
143
10
2,298
NA
NA

1,293
3,030

4,323
81
3
1
4
0
1
4
5
1

4,250
27
27
45
1

73

15

8,378
8,490
8,588
8,618


22,118
22,118
35,048

22,118
22,118
35,048

13,418
13,418
26,348

78
441
5
0
0
0

147
0
0
4
32
12
16
28
31
2
21
0
53
12
0
358
86
27

2,227
906

3,133
83
5
2
1
0
0
4
3
2

2,525
5
83
12
0

608

17

19,772
20,430
21,090
22,194


37,108
37,108
37,108

36,794
36,794
36,794

25,794
25,794
25,794

9
509
234
0
58
0

170
0
0
2
58
39
17
19
38
8
88
0
34
0
0
473
NA
NA

1,067
1,464

2,531
76
1
1
3
0
1
3
14
1

2,531
20
55
24
0

0

18

3,877
3,865
3,877
3,877


21,817
21,817
24,607

17,359
17,359
20,149

10,885
10,885
13,675

275
NA
NA
NA
NA
NA

89
0
0
1
13
17
9
1
3
0
9
0
11
2
0
155
NA
NA

601
1,780

2,381
87
1
1
4
0
1
3
3
0

2,381
31
40
29
0

0

15

3,882
3,865
3,687
3,562


NA
NA
NA

17,202
17,202
20,082

10,692
10,692
13,572

243
NA
NA
NA
NA
NA

74
0
0
1
9
20
2
6
2
0
8
0
7
2
0
131
7
50

2,282
2

2,284
54
5
11
8
0
0
7
4
11

2,284
1
99
0
0

0

9

59,430
61,220
63,520
66,600


85,420
85,420
85,420

74,400
74,400
74,400

68,300
68,300
68,300

0
542
0
0
0
0

256
0
0
34
71
110
54
52
86
6
80
3
74
22
15
863
97
23

742
927

1,669
81
4
2
2
0
1
5
3
2

1,581
52
47
1
0

88

23

28,430
29,152
29,996
30,896


48,274
48,274
48,274

44,696
44,696
44,696

35,696
35,696
35,696

10
147
100
0
0
0

45
0
0
3
14
26
2
4
23
4
13
5
16
7
0
162
61
33

877
36

913
82
3
1
5
0
1
2
5
1

889
0
95
5
0

24

10

14,058
14,338
14,562
14,746


31,172
31,172
46,652

31,172
31,172
46,652

19,246
19,246
34,726

4
127
6
0
0
0

83
0
0
3
13
13
22
15
32
2
31
0
14
15
17
260
NA
NA

516
4

520
77
6
2
3
0
0
3
9
0

512
0
21
79
0

8

15

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

91
4
1
0
0
0

30
0
0
1
5
5
7
3
0
0
0
7
2
2
0
62
65
28

351
16

367
68
0
1
6
0
0
2
2
21

360
0
94
6
0

7

10

43,542
43,542
44,829
46,179


58,266
58,266
58,266

53,937
53,937
53,937

48,165
48,165
48,165

0
93
1
0
0
0

31
0
0
4
0
5
8
4
8
0
12
0
18
6
0
96
NA
NA

24
0

24
83
4
8
0
0
0
4
0
0

0
NA
NA
NA
NA

24

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
7
0
0
0

0
0
0
0
4
7
3
1
0
0
0
1
1
2
0
19


Sources: STI: PopStats and STI: Colossus