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.
|
Montserrat College of Art |
Massachusetts School of Law |
|
University of New Hampshire-Franklin Pierce School of Law |
|
University of New Hampshire at Manchester |
|
Colby-Sawyer College |
|
University of New Hampshire College of Professional Studies Online |
|
Gordon-Conwell Theological Seminary |
|
Great Bay Community College |
|
York County Community College |
|
Manchester Community College |
|
Saint Anselm College |
|
NHTI-Concord's Community College |
|
New England College |
|
Rivier University |
|
Endicott College |
|
Northern Essex Community College |
|
North Shore Community College |
|
University of New England |
|
University of New Hampshire-Main Campus |
|
Southern New Hampshire University |
|
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
35
56,661
127,438
184,099
51
18
2
14
0
1
4
10
1
159,653
1
24
74
0
24,446
24
9,650
15,380
15,380
16,450
40,450
40,450
40,450
43,192
43,192
43,192
29,866
29,866
29,866
3,656
20,986
9,475
31
0
0
3,263
0
0
8
233
856
788
150
47
6
102
0
2,490
0
3
7,946 |
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 |
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 |
NA
NA
1,261
3,572
4,833
38
9
4
34
0
0
6
8
0
4,833
13
49
37
0
0
16
5,352
5,352
5,352
5,352
NA
NA
NA
25,806
25,806
31,374
10,656
10,656
16,224
569
NA
NA
NA
NA
NA
206
0
0
10
37
64
11
14
42
0
46
0
82
4
5
521 |
NA
NA
1,142
3,368
4,510
38
5
2
48
0
0
2
3
1
4,510
17
53
29
0
0
18
5,544
5,544
5,688
5,688
NA
NA
NA
23,115
23,115
28,899
11,316
11,316
17,100
401
NA
NA
NA
NA
NA
131
0
0
10
84
81
8
27
0
0
10
0
76
7
0
434 |
72
22
3,349
905
4,254
82
2
2
6
0
0
2
4
1
3,176
2
95
3
0
1,078
13
35,320
36,614
37,776
39,212
59,888
59,888
59,888
56,691
56,691
56,691
42,516
42,516
42,516
11
724
387
13
0
0
263
0
0
5
69
62
61
17
83
9
90
0
55
23
2
739 |
82
20
1,939
940
2,879
51
8
29
3
0
0
2
7
0
1,335
10
65
25
0
1,544
14
34,510
35,512
36,610
37,791
56,506
56,506
56,506
57,772
57,772
57,772
44,743
44,743
44,743
109
241
390
7
5
0
125
0
0
7
12
25
8
7
31
4
10
0
33
0
0
262 |
96
9
2,699
157
2,856
28
5
1
4
0
0
1
7
54
986
1
80
19
0
1,870
8
39,648
40,642
41,518
41,578
61,592
61,592
61,592
61,834
61,834
61,834
45,328
45,328
45,328
22
285
933
4
0
0
240
0
0
1
18
33
16
6
37
6
12
0
69
0
0
438 |
NA
NA
939
1,674
2,613
71
4
3
9
0
1
3
10
0
2,613
9
56
35
0
0
11
7,200
7,200
7,200
7,200
23,984
23,984
32,234
33,968
33,968
42,218
16,786
16,786
25,036
368
NA
NA
NA
NA
NA
139
0
0
1
46
3
7
6
0
0
21
0
14
0
0
237 |
78
18
2,043
35
2,078
87
1
1
4
0
0
3
3
1
2,052
1
98
0
0
26
11
42,840
43,910
45,340
46,810
67,890
67,890
67,890
66,354
66,354
66,354
53,906
53,906
53,906
0
434
19
0
0
0
175
0
0
12
20
56
37
20
60
8
68
0
30
18
1
505 |
NA
NA
620
1,392
2,012
66
6
4
12
0
1
3
8
0
2,012
3
58
40
0
0
11
7,090
7,090
7,090
7,090
NA
NA
NA
33,098
33,098
41,348
13,450
13,450
21,700
306
NA
NA
NA
NA
NA
101
0
0
3
43
4
6
3
0
0
8
0
8
0
0
176 |
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
424
1,016
1,440
73
2
4
8
0
1
3
9
0
1,440
4
61
34
0
0
11
7,200
7,200
7,200
7,200
NA
NA
NA
33,196
33,196
41,446
15,510
15,510
23,760
224
NA
NA
NA
NA
NA
69
0
0
2
42
3
5
4
0
0
6
0
7
0
0
138 |
NA
NA
255
1,118
1,373
41
14
16
10
0
0
2
13
4
0
NA
NA
NA
NA
1,373
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
206
0
0
26
24
1
0
4
4
27
14
8
1
0
4
0
51
6
0
144 |
NA
NA
289
1,037
1,326
84
3
2
6
0
0
2
2
0
1,100
0
24
75
0
226
13
7,791
7,791
7,806
7,812
NA
NA
NA
21,348
21,348
22,908
11,520
11,520
13,080
63
303
48
0
0
0
51
0
0
0
12
20
4
1
18
0
0
0
16
0
0
122 |
90
12
771
179
950
76
4
1
3
0
0
1
14
1
834
0
85
15
0
116
10
44,930
46,254
47,164
18,400
38,708
38,708
38,708
40,740
40,740
40,740
23,900
23,900
23,900
21
221
19
0
0
0
76
0
0
5
12
40
10
11
44
8
36
1
22
3
0
268 |
87
16
571
177
748
53
4
5
7
0
0
3
11
16
522
1
73
26
0
226
9
15,778
15,785
15,804
15,820
NA
NA
NA
33,320
33,320
53,030
20,020
20,020
39,730
2
143
0
0
0
0
73
0
0
4
9
12
3
0
11
0
3
0
10
0
0
125 |
NA
NA
448
237
685
67
3
5
8
0
0
3
8
7
0
NA
NA
NA
NA
685
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
28
0
170
0
46
0
0
2
4
9
2
0
3
0
0
0
11
1
0
78 |
NA
NA
88
196
284
63
17
4
16
0
0
0
1
0
0
NA
NA
NA
NA
284
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
39
0
22
0
1
2
1
2
2
1
1
0
0
0
3
1
0
36 |
NA
NA
253
23
276
64
4
3
14
0
1
5
8
0
276
2
93
5
1
0
8
35,300
36,450
37,850
39,000
60,775
60,775
60,775
59,775
59,775
59,775
45,300
45,300
45,300
0
68
0
0
0
0
33
0
0
3
18
6
4
3
1
1
3
0
4
1
0
77 |
Page 1 of 2
The Landing School |
Magdalen College |
|
Thomas More College of Liberal Arts |
|
St Joseph School of Nursing |
|
Northpoint Bible College |
|
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
|
NA
NA
67
61
128
52
13
0
27
0
1
2
0
5
92
1
55
43
1
36
9
13,493
13,670
14,160
14,160
32,262
32,262
32,262
38,060
38,060
38,060
20,460
20,460
20,460
4
23
8
0
0
0
17
0
0
1
4
4
1
0
1
0
18
0
5
1
0
52 |
NA
NA
46
50
96
59
27
2
7
0
0
4
0
0
96
0
29
71
0
0
6
22,764
22,764
22,764
22,978
NA
NA
NA
32,628
32,628
32,628
25,128
25,128
25,128
61
NA
NA
NA
NA
NA
18
0
0
0
0
0
2
0
0
0
0
0
3
0
0
23 |
NA
NA
95
0
95
74
0
2
6
0
1
4
11
2
95
4
88
7
0
0
10
24,600
25,200
28,000
29,300
42,700
42,700
42,700
38,300
38,300
38,300
35,900
35,900
35,900
0
24
0
0
0
0
9
0
0
0
0
2
1
0
0
0
3
0
4
0
0
19 |
44
100
58
0
58
100
0
0
0
0
0
0
0
0
58
0
98
2
0
0
12
24,000
23,600
24,000
23,600
37,956
37,956
37,956
35,800
35,800
35,800
24,900
24,900
24,900
0
15
0
0
0
0
7
0
0
1
3
2
1
0
0
0
2
1
0
0
0
17 |
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 |
Page 2 of 2
Sources: STI: PopStats and STI: Colossus
|