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.
- 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.
- 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.
- 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.
- 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.
- 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.
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DeVry University-Nevada |
Wongu University of Oriental Medicine |
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Carrington College-Las Vegas |
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Las Vegas College |
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Chamberlain University-Nevada |
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Pima Medical Institute-Las Vegas |
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Arizona College of Nursing-Las Vegas |
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Roseman University of Health Sciences |
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Touro University Nevada |
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Northwest Career College |
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Nevada State University |
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College of Southern Nevada |
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University of Nevada-Las Vegas |
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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
39
22,947
8,147
31,094
25
9
15
33
1
0
13
1
3
25,794
4
78
18
0
5,300
18
8,685
8,737
8,947
9,142
26,504
26,504
43,460
28,540
28,540
45,496
15,830
15,830
32,786
0
4,719
1,227
250
283
0
1,679
162
0
77
140
273
554
301
415
330
315
1
412
124
35
4,818 |
NA
NA
9,509
19,572
29,081
25
10
9
41
1
0
8
5
1
29,081
12
52
35
0
0
21
3,878
3,848
3,968
4,110
NA
NA
NA
21,370
21,370
29,469
10,400
10,400
18,499
3,170
123
0
0
0
0
863
0
0
17
36
104
94
36
126
6
55
0
201
44
4
1,586 |
86
35
2,273
5,010
7,283
18
9
12
41
1
0
6
12
0
7,224
41
35
24
0
59
19
6,075
6,075
6,225
6,368
NA
NA
NA
25,418
25,418
39,499
14,439
14,439
28,520
0
849
40
0
0
0
249
0
0
3
22
72
28
19
51
1
3
0
41
0
0
489 |
NA
NA
2,222
0
2,222
15
32
5
35
2
1
10
0
0
2,222
0
42
58
0
0
36
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
101
NA
NA
NA
NA
NA
61
0
0
0
21
13
15
2
5
0
3
19
15
7
0
161 |
NA
NA
1,308
317
1,625
39
5
32
11
0
0
6
6
0
19
0
11
89
0
1,606
9
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
14
168
3
264
0
120
1
0
3
7
50
3
17
3
10
29
0
60
3
0
306 |
NA
NA
1,398
0
1,398
37
4
33
10
1
0
11
4
1
554
0
52
48
0
844
10
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
314
27
0
231
0
143
3
0
8
19
57
25
26
12
11
51
0
72
13
0
440 |
100
60
802
383
1,185
16
15
24
32
3
0
8
1
0
1,185
0
28
72
0
0
20
20,170
20,826
21,653
22,426
NA
NA
NA
44,773
44,773
44,773
29,463
29,463
29,463
0
196
0
0
0
0
51
0
0
0
11
11
0
1
5
0
0
0
3
0
0
82 |
NA
NA
748
0
748
25
10
13
35
2
0
14
1
0
748
0
51
49
0
0
25
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
164
NA
NA
NA
NA
NA
39
0
0
0
12
3
0
0
0
0
0
0
9
2
0
65 |
75
67
245
328
573
25
10
31
27
2
1
2
1
0
573
0
33
66
0
0
12
19,766
19,982
20,142
20,462
NA
NA
NA
45,594
45,594
45,594
28,870
28,870
28,870
0
170
0
0
0
0
24
0
0
0
15
2
2
1
0
0
0
0
1
0
0
45 |
NA
NA
545
0
545
18
22
18
26
3
0
3
8
0
545
0
28
72
0
0
19
14,903
15,663
16,695
17,684
NA
NA
NA
38,206
38,206
38,206
23,698
23,698
23,698
121
2
0
0
0
0
28
0
0
1
15
5
1
0
0
0
6
0
3
0
0
59 |
NA
NA
359
0
359
13
21
13
34
3
0
5
10
1
359
0
33
67
0
0
14
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
73
NA
NA
NA
NA
NA
25
0
0
0
2
12
0
0
0
0
0
0
3
0
0
42 |
NA
NA
18
7
25
40
24
24
4
0
0
4
4
0
0
NA
NA
NA
NA
25
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
10
0
0
0
4
0
0
0
2
4
1
1
0
0
1
0
3
0
0
16 |
NA
NA
1
3
4
25
25
0
50
0
0
0
0
0
4
0
25
75
0
0
1
17,872
17,488
17,488
17,488
NA
NA
NA
42,312
42,312
42,312
25,596
25,596
25,596
1
5
0
0
0
0
4
0
0
0
2
1
0
0
0
0
0
0
0
0
0
7 |
Sources: STI: PopStats and STI: Colossus
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