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Marshall 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.
 
Mid-South Christian College
Concorde Career College-Southaven  
Visible Music College  
Memphis Theological Seminary  
Remington College-Memphis Campus  
Concorde Career College-Memphis  
Rust College  
Southern College of Optometry  
Le Moyne-Owen College  
Baptist Health Sciences University  
Rhodes College  
Christian Brothers University  
Strayer University-Tennessee  
The University of Tennessee Health Science Center  
Southwest Tennessee Community College  
Northwest Mississippi Community College  
University of Memphis  
University of Mississippi  
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
98
19

21,617
2,426

24,043
75
11
2
5
0
0
3
1
3

19,094
0
95
4
0

4,949

17

8,828
9,044
9,220
9,412


28,952
28,952
46,520

29,312
29,312
46,880

16,912
16,912
34,480

0
3,887
1,148
236
495
0

2,005
0
0
58
146
631
1,073
747
538
4,567
473
2
1,186
277
48
11,751
93
18

13,874
7,862

21,736
38
35
5
9
0
0
4
1
8

16,771
14
68
18
0

4,965

17

9,912
10,056
10,056
10,344


28,070
28,070
32,510

29,874
29,874
34,314

17,726
17,726
22,166

0
2,948
1,383
157
99
0

1,043
103
0
66
482
125
289
171
110
16
231
0
192
87
6
2,921
NA
NA

4,516
3,004

7,520
53
35
1
7
0
0
2
2
0

7,520
27
61
12
1

0

21

3,390
3,460
3,460
3,660


13,475
13,475
15,875

23,794
23,794
26,194

9,425
9,425
11,825

1,099
NA
NA
NA
NA
NA

257
0
0
12
63
22
15
14
40
0
134
7
41
21
2
628
NA
NA

2,807
4,173

6,980
19
65
2
10
0
0
3
1
1

6,980
24
46
29
0

0

19

4,506
4,430
4,430
4,550


NA
NA
NA

18,516
18,516
31,716

9,085
9,085
22,285

838
NA
NA
NA
NA
NA

225
0
0
4
14
17
100
14
12
20
70
0
134
7
0
617
NA
NA

2,938
183

3,121
62
13
10
4
0
0
3
3
4

376
0
68
32
0

2,745

7

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
323
167
188
436
0

1,468
81
0
24
8
224
138
330
42
1,453
236
0
518
31
15
4,568
NA
NA

129
2,791

2,920
31
63
0
1
0
0
3
1
0

2,670
0
12
87
1

250

39

13,515
13,515
13,515
13,920


NA
NA
NA

25,158
25,158
25,158

15,720
15,720
15,720

128
185
119
0
0
0

23
0
0
0
20
19
4
0
0
0
0
13
2
0
0
81
88
20

1,562
481

2,043
21
21
2
11
0
0
5
12
27

1,204
20
72
9
0

839

9

34,880
34,820
35,520
37,300


51,552
51,552
51,552

53,106
53,106
53,106

40,821
40,821
40,821

2
292
377
0
0
0

153
0
0
6
34
19
13
19
19
3
21
0
29
5
0
321
50
16

1,900
52

1,952
62
10
9
7
0
0
5
4
3

1,936
0
98
2
0

16

11

50,910
50,910
52,310
54,892


71,546
71,546
71,546

71,546
71,546
71,546

58,415
58,415
58,415

0
477
12
0
0
0

199
0
0
6
15
60
29
27
56
6
73
0
34
15
3
523
68
42

279
476

755
38
46
3
7
0
1
1
4
0

733
8
58
34
0

22

6

12,572
12,572
13,078
13,846


24,791
24,791
24,791

26,736
26,736
26,736

19,163
19,163
19,163

25
199
0
0
2
0

70
0
0
1
14
40
3
5
2
0
17
0
11
0
0
163
97
77

506
140

646
0
95
0
1
0
0
0
0
3

646
12
67
21
0

0

9

12,076
12,076
12,076
12,076


20,176
20,176
20,176

22,826
22,826
22,826

15,826
15,826
15,826

4
114
0
0
0
0

63
0
0
4
26
6
20
3
14
0
6
0
11
0
0
153
NA
NA

525
0

525
75
3
15
2
0
0
2
0
2

0
NA
NA
NA
NA

525

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
0
0
128
0

61
0
0
2
5
19
11
9
5
14
18
0
45
7
2
198
35
17

424
5

429
0
93
0
0
0
0
0
1
4

429
0
79
21
0

0

11

9,900
9,900
9,900
13,840


23,320
23,320
23,320

21,590
21,590
21,590

17,290
17,290
17,290

0
80
0
0
0
0

36
0
0
1
2
27
5
2
18
0
21
0
24
3
0
139
73
80

420
0

420
5
53
1
7
0
0
0
33
0

420
0
56
44
0

0

34

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

218
NA
NA
NA
NA
NA

43
0
0
1
17
28
11
0
0
0
0
11
5
1
0
117
NA
NA

391
0

391
3
95
0
1
0
0
1
1
0

391
0
33
66
1

0

29

15,498
17,468
19,964
20,047


NA
NA
NA

33,539
33,539
33,539

24,448
24,448
24,448

9
NA
NA
NA
NA
NA

13
0
0
0
0
8
4
0
0
0
2
3
5
0
0
35
NA
NA

153
42

195
35
58
3
1
0
0
3
0
0

0
NA
NA
NA
NA

195

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
17
0
0
12

6
0
0
1
5
3
3
2
0
0
1
0
4
1
0
26
29
79

160
22

182
51
16
4
17
1
1
3
1
7

168
2
66
31
1

14

6

20,000
20,000
20,000
22,000


34,931
34,931
34,931

34,931
34,931
34,931

27,931
27,931
27,931

0
22
6
0
0
0

21
0
0
0
0
10
4
0
0
0
1
1
1
0
0
38
100
63

114
0

114
9
74
0
4
0
3
1
11
0

114
1
55
44
0

0

23

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

6
NA
NA
NA
NA
NA

5
0
0
1
4
4
4
0
0
0
0
3
3
0
0
24
100
75

25
7

32
19
31
0
28
0
0
0
0
22

24
0
42
58
0

8

3

9,215
11,905
11,905
11,905


22,268
22,268
22,268

31,765
31,765
31,765

17,668
17,668
17,668

2
4
0
0
0
0

6
0
3
1
1
6
2
0
0
0
0
0
1
1
0
21


Sources: STI: PopStats and STI: Colossus