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Carroll 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
White Mountains Community College  
Lakes Region Community College  
York County Community College  
Plymouth State University  
University of New England  
Dartmouth College  
University of New Hampshire-Main Campus  
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
87
14

12,410
1,216

13,626
82
1
3
4
0
0
2
4
3

11,376
2
97
2
0

2,250

16

18,938
18,962
19,024
19,112


36,076
36,076
55,846

36,076
36,076
55,846

23,312
23,312
43,082

21
2,585
739
71
15
0

801
117
0
37
224
480
192
380
223
34
207
2
364
81
23
3,165
6
67

6,678
68

6,746
44
5
12
8
0
1
6
2
21

4,447
2
98
1
0

2,299

7

60,117
60,870
62,658
65,739


87,793
87,793
87,793

NA
NA
NA

NA
NA
NA

0
1,211
704
100
74
0

810
38
0
129
281
518
222
724
354
27
458
1
373
109
17
4,061
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
91
15

3,446
393

3,839
79
2
1
5
0
0
6
5
2

3,336
1
97
2
0

503

15

14,492
14,492
14,492
14,558


30,854
30,854
41,794

30,854
30,854
41,794

20,608
20,608
31,548

0
722
191
15
26
0

216
0
0
8
14
39
21
9
49
4
38
0
57
12
6
473
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
NA
NA

218
477

695
78
1
1
5
0
1
2
12
0

695
22
51
27
0

0

9

6,738
6,720
6,720
6,720


22,428
22,428
30,678

29,604
29,604
37,854

13,196
13,196
21,446

100
NA
NA
NA
NA
NA

40
0
0
1
28
3
3
2
0
0
6
0
4
0
0
87
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
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