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Sherburne 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.
 
Academy College
Bethlehem College & Seminary  
Bethany Global University  
Minneapolis College of Art and Design  
North Central University  
Northwestern Health Sciences University  
Dunwoody College of Technology  
College of Saint Benedict  
Saint Johns University  
Augsburg University  
North Hennepin Community College  
Anoka-Ramsey Community College  
Rasmussen University-Minnesota  
Normandale Community College  
Saint Cloud State University  
Capella University  
Walden University  
University of Minnesota-Twin Cities  
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
77
22

38,441
16,449

54,890
56
7
11
6
0
0
5
5
10

39,556
19
76
4
1

15,334

16

15,027
15,254
15,859
16,488


32,866
32,866
52,780

32,866
32,866
52,780

19,838
19,838
39,752

0
7,640
3,100
753
1,051
0

4,229
1,544
324
268
317
1,283
2,229
2,944
1,478
559
1,095
40
1,147
485
78
18,020
NA
NA

12,926
31,297

44,223
36
40
4
9
0
0
2
6
2

7,362
0
10
89
0

36,861

30

12,180
12,180
12,483
12,498


NA
NA
NA

35,358
35,358
35,358

17,862
17,862
17,862

0
1,399
8,833
1,500
0
0

1,009
0
0
10
774
45
31
0
15
0
0
0
2
0
0
1,886
NA
NA

10,440
33,475

43,915
46
29
3
13
0
0
4
4
1

16,177
0
8
91
0

27,738

36

14,148
14,148
14,328
14,436


NA
NA
NA

22,820
22,820
22,820

15,950
15,950
15,950

0
7,543
6,955
1,070
0
0

583
0
0
8
0
204
106
0
327
0
0
207
83
0
0
1,518
95
19

5,166
5,348

10,514
61
8
3
4
0
0
3
7
12

8,430
35
52
13
0

2,084

17

8,779
9,170
10,117
10,117


23,747
23,747
23,747

23,747
23,747
23,747

14,117
14,117
14,117

111
1,329
505
19
0
0

387
0
0
10
131
29
50
50
67
6
61
1
85
36
1
914
NA
NA

3,325
6,295

9,620
45
23
9
13
0
0
5
4
1

9,620
31
53
16
0

0

28

5,679
5,789
6,321
6,321


NA
NA
NA

25,171
25,171
25,171

15,711
15,711
15,711

1,098
NA
NA
NA
NA
NA

192
0
0
8
96
18
26
37
6
1
29
3
31
6
0
453
NA
NA

4,548
4,275

8,823
45
26
4
12
0
1
2
11
0

8,054
0
20
80
0

769

14

12,233
12,263
11,205
10,899


NA
NA
NA

26,693
26,693
26,693

16,757
16,757
16,757

1,087
141
252
0
12
0

435
0
0
2
179
66
1
0
0
0
0
0
16
0
0
699
NA
NA

2,620
5,223

7,843
60
12
6
6
0
0
5
10
1

7,843
45
41
14
0

0

25

5,286
5,515
5,655
5,682


NA
NA
NA

29,036
29,036
29,036

17,959
17,959
17,959

946
NA
NA
NA
NA
NA

161
0
0
3
76
17
14
17
9
2
16
3
40
6
0
364
NA
NA

1,500
3,695

5,195
39
25
15
9
0
0
6
3
2

5,195
31
45
23
0

0

24

4,596
4,882
5,050
5,050


NA
NA
NA

27,481
27,481
27,481

13,774
13,774
13,774

509
NA
NA
NA
NA
NA

113
0
0
2
55
11
10
12
4
1
15
1
20
5
0
249
77
21

2,792
369

3,161
39
25
10
13
0
1
6
3
3

2,445
1
91
8
0

716

13

40,005
41,007
42,064
43,942


64,610
64,610
64,610

68,164
68,164
68,164

53,192
53,192
53,192

0
503
230
0
26
0

215
0
0
5
2
58
37
18
84
2
61
5
27
0
0
514
90
25

1,520
104

1,624
78
4
3
8
0
1
0
0
6

1,481
1
98
0
0

143

12

48,166
49,842
52,164
53,942


68,572
68,572
68,572

68,572
68,572
68,572

56,442
56,442
56,442

0
329
26
0
0
0

125
0
0
7
20
40
35
15
50
3
80
0
44
0
1
420
91
22

1,415
36

1,451
79
3
3
10
0
1
0
0
3

1,410
2
98
1
0

41

11

48,444
50,126
52,108
53,884


68,544
68,544
68,544

68,544
68,544
68,544

56,384
56,384
56,384

0
398
0
0
0
0

126
0
0
9
23
36
24
20
27
9
64
0
31
10
16
395
98
66

1,184
240

1,424
69
8
7
5
0
1
6
5
0

1,424
1
68
30
0

0

11

23,122
23,863
24,611
25,659


44,550
44,550
44,550

44,550
44,550
44,550

29,612
29,612
29,612

358
89
0
0
0
0

106
0
0
2
8
26
16
9
11
0
0
0
14
2
3
197
NA
NA

736
296

1,032
47
5
6
4
0
0
2
28
8

366
0
43
57
0

666

4

11,700
11,700
11,007
12,015


NA
NA
NA

39,863
39,863
39,863

25,739
25,739
25,739

45
18
35
0
153
0

72
0
0
4
18
24
16
13
3
10
1
2
23
3
0
189
91
39

834
150

984
62
13
4
13
0
0
4
2
1

865
6
84
10
0

119

11

26,285
27,200
28,000
29,460


44,475
44,475
44,475

44,645
44,645
44,645

39,405
39,405
39,405

0
207
14
0
0
0

82
0
0
3
23
18
2
7
34
0
15
1
15
5
0
205
48
39

734
90

824
62
6
7
11
0
1
7
2
4

714
2
92
6
0

110

10

41,794
41,794
42,560
43,824


60,374
60,374
60,374

60,374
60,374
60,374

49,464
49,464
49,464

0
125
40
0
0
0

71
0
0
6
7
35
7
20
17
0
15
2
16
6
0
202
94
20

157
44

201
72
3
4
4
0
1
2
9
4

162
1
86
12
0

39

10

15,450
16,100
16,270
20,700


30,672
30,672
30,672

43,216
43,216
43,216

31,032
31,032
31,032

6
54
15
0
0
0

18
0
0
0
0
22
9
1
4
0
8
0
12
4
0
78
NA
NA

129
65

194
78
1
5
3
1
1
2
6
4

92
0
82
18
0

102

14

6,560
6,560
7,244
7,144


15,144
15,144
15,144

14,244
14,244
14,244

8,244
8,244
8,244

1
18
34
0
0
0

14
0
0
1
0
4
3
0
1
0
2
0
3
0
0
28
NA
NA

118
0

118
0
0
1
1
0
0
0
98
0

118
0
24
76
0

0

8

18,699
18,644
20,103
18,252


NA
NA
NA

38,143
38,143
38,143

29,604
29,604
29,604

5
9
0
0
0
0

9
0
0
0
0
1
0
0
0
0
0
0
7
0
0
17


Sources: STI: PopStats and STI: Colossus