Ersys Logo Ersys Name
Morris County – Colleges/Universities 2023-2024

Picture of valves

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.
 
Hackensack Meridian School of Medicine
Bloomfield College  
Saint Elizabeth University  
Centenary University  
Caldwell University  
Berkeley College-Woodland Park  
Drew University  
Fairleigh Dickinson University-Florham Campus  
Warren County Community College  
Passaic County Community College  
County College of Morris  
Raritan Valley Community College  
Essex County College  
UCNJ Union College of Union County, NJ  
William Paterson University of New Jersey  
Seton Hall University  
Rutgers University-Newark  
New Jersey Institute of Technology  
Kean University  
Montclair State 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
87
20

18,156
4,414

22,570
34
12
6
35
0
0
2
6
4

18,062
1
90
8
0

4,508

17

13,073
13,298
13,298
14,766


35,028
35,028
44,388

38,564
38,564
47,924

18,206
18,206
27,566

0
3,788
1,524
34
14
0

1,130
0
0
15
6
85
446
114
113
72
206
0
302
51
8
2,548
77
21

10,477
2,875

13,352
27
20
5
34
0
0
2
6
6

11,234
3
78
19
0

2,118

17

12,445
12,595
12,972
13,426


34,430
34,430
42,080

35,420
35,420
43,070

19,312
19,312
26,962

0
2,313
582
26
46
0

698
0
0
4
4
281
28
20
53
3
34
0
211
16
8
1,360
67
19

10,388
2,619

13,007
25
9
17
22
0
0
3
5
20

9,523
5
83
12
0

3,484

16

17,674
18,016
18,512
19,022


41,352
41,352
58,264

45,652
45,652
62,564

28,452
28,452
45,364

0
1,815
1,218
95
0
0

640
66
0
14
29
122
206
130
170
0
145
0
148
40
2
1,712
79
10

8,174
2,635

10,809
25
16
17
28
0
0
2
3
8

7,417
0
83
17
0

3,392

13

14,502
15,208
15,648
16,586


37,409
37,409
56,171

48,151
48,151
66,913

29,737
29,737
48,499

0
1,783
1,124
91
241
0

700
72
0
42
111
45
232
75
73
7
169
0
121
81
0
1,728
79
8

7,524
1,970

9,494
48
12
9
22
0
0
4
2
2

6,061
1
97
2
0

3,433

14

45,290
46,880
48,960
51,370


72,720
72,720
72,720

73,920
73,920
73,920

56,570
56,570
56,570

0
1,336
815
61
290
0

631
0
0
41
70
143
94
72
180
15
51
0
136
42
2
1,477
93
12

5,802
3,624

9,426
37
18
8
30
0
0
2
2
2

6,546
0
68
32
0

2,880

17

13,638
14,210
14,624
15,150


35,880
35,880
45,194

33,002
33,002
42,316

21,672
21,672
30,986

0
1,847
859
0
16
0

420
0
0
19
8
63
35
44
59
7
145
0
136
0
0
936
NA
NA

3,649
4,432

8,081
14
28
4
46
0
0
2
3
1

8,081
1
63
36
0

0

21

5,281
5,281
5,281
5,280


NA
NA
NA

24,812
29,032
29,032

12,134
16,354
16,354

1,404
NA
NA
NA
NA
NA

220
0
0
7
151
50
17
13
9
0
59
0
41
6
3
576
NA
NA

3,016
3,774

6,790
6
44
3
31
0
0
1
5
10

6,790
12
56
31
1

0

24

4,995
5,095
5,192
5,346


NA
NA
NA

19,689
23,661
23,661

9,960
13,932
13,932

1,018
NA
NA
NA
NA
NA

163
0
0
3
91
57
14
5
11
0
56
0
85
7
0
492
NA
NA

2,747
3,840

6,587
40
11
8
28
0
0
3
9
1

6,587
12
65
23
0

0

19

5,232
5,232
5,376
5,520


NA
NA
NA

22,445
24,365
24,365

10,445
12,365
12,365

912
NA
NA
NA
NA
NA

215
0
0
3
83
42
2
0
0
0
19
0
112
10
0
486
NA
NA

2,732
3,337

6,069
44
5
5
27
0
0
3
13
2

6,069
6
73
20
1

0

17

5,400
5,520
5,940
6,210


NA
NA
NA

23,180
27,500
31,280

11,800
16,120
19,900

1,038
NA
NA
NA
NA
NA

228
0
0
3
2
50
17
28
29
2
47
0
72
12
3
493
NA
NA

2,120
3,045

5,165
15
10
5
63
0
0
2
5
0

5,165
6
63
31
0

0

16

5,400
5,400
5,580
5,580


NA
NA
NA

22,706
24,716
26,816

9,206
11,216
13,316

553
NA
NA
NA
NA
NA

190
0
0
6
144
85
11
8
40
0
50
0
94
4
0
632
NA
NA

682
2,660

3,342
18
3
1
6
0
0
1
70
0

3,342
73
19
8
0

0

19

5,190
5,190
5,190
5,310


NA
NA
NA

17,710
18,010
18,310

12,710
13,010
13,310

160
NA
NA
NA
NA
NA

37
0
1
1
9
6
5
0
2
0
2
0
7
0
0
70
95
12

2,498
280

2,778
49
10
7
22
0
0
3
4
4

1,997
1
96
3
0

781

11

44,740
33,114
34,404
35,822


58,514
58,514
58,514

59,986
59,986
59,986

43,884
43,884
43,884

2
503
311
0
73
0

224
0
0
6
1
57
25
14
41
8
29
0
43
1
2
451
69
13

1,834
392

2,226
51
11
4
4
0
0
3
7
20

1,624
0
96
3
1

602

11

40,960
42,952
44,174
45,360


68,495
68,495
68,495

71,824
71,824
71,824

52,467
52,467
52,467

0
380
101
54
0
0

181
0
0
10
8
50
17
5
49
3
7
0
31
3
0
364
NA
NA

1,091
916

2,007
7
12
1
39
0
0
1
39
1

1,900
2
38
60
0

107

14

27,000
27,600
28,600
28,600


NA
NA
NA

51,990
51,990
51,990

36,630
36,630
36,630

231
332
82
0
0
0

106
0
0
2
15
34
13
1
61
0
13
1
32
0
2
280
65
7

1,549
315

1,864
31
16
4
27
0
0
1
7
13

1,448
3
92
5
0

416

13

36,700
36,900
38,050
39,450


59,324
59,324
59,324

60,950
60,950
60,950

46,350
46,350
46,350

0
333
94
5
0
0

132
0
0
5
12
30
14
8
37
3
0
0
20
0
1
262
97
14

920
533

1,453
62
6
2
16
0
0
0
10
4

951
0
90
9
0

502

12

34,498
34,498
35,934
37,732


55,244
55,244
55,244

55,426
55,426
55,426

43,346
43,346
43,346

4
245
120
12
0
0

94
2
0
5
7
25
9
1
45
2
7
0
18
12
0
227
77
10

774
235

1,009
27
29
4
26
0
1
1
11
1

670
4
83
13
0

339

11

34,876
34,876
34,930
35,942


54,768
54,768
54,768

57,642
57,642
57,642

43,642
43,642
43,642

0
169
130
18
0
0

93
0
0
2
22
8
10
11
26
2
3
0
22
5
0
204
67
8

837
73

910
8
48
4
32
0
1
0
4
3

904
0
85
15
0

6

13

30,680
30,680
30,680
30,680


47,942
47,942
47,942

50,717
50,717
50,717

34,553
34,553
34,553

0
262
4
0
0
0

64
0
0
2
0
3
31
11
13
2
20
0
32
5
0
183
NA
NA

567
0

567
47
6
33
8
0
0
3
4
0

0
NA
NA
NA
NA

567

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
0
0
85
0

378
0
0
1
57
40
4
7
7
0
0
0
13
0
0
507

Page 1 of 2
Assumption College for Sisters
Best Care College  
Yeshiva Gedolah Zichron Leyma  
Eastern School of Acupuncture and Traditional Medicine  
Yeshivas Be'er Yitzchok  
Yeshiva Gedolah Tiferes Boruch  
Rabbinical College of America  
Eastwick College-Nutley  
Pillar 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

521
33

554
31
17
2
37
0
0
1
4
8

489
11
36
52
1

65

14

22,756
22,756
23,668
24,820


NA
NA
NA

56,320
56,320
56,320

32,320
32,320
32,320

33
31
32
0
0
0

41
0
0
1
1
9
4
3
2
0
1
1
11
0
0
74
NA
NA

266
190

456
20
15
3
60
0
0
0
0
2

456
0
51
49
0

0

11

15,806
15,327
15,327
14,846


NA
NA
NA

34,122
34,122
34,122

20,811
20,811
20,811

125
NA
NA
NA
NA
NA

29
0
0
3
4
3
1
0
0
0
0
3
6
3
0
52
87
87

206
0

206
83
0
0
0
0
0
0
0
17

197
25
74
1
0

9

12

12,000
12,000
13,000
13,000


27,300
27,300
27,300

38,000
38,000
38,000

23,100
23,100
23,100

0
28
5
0
0
0

17
0
0
0
0
3
3
0
0
0
12
0
3
0
0
38
100
100

70
0

70
100
0
0
0
0
0
0
0
0

70
27
73
0
0

0

18

9,850
9,850
9,850
9,850


17,600
17,600
17,600

NA
NA
NA

NA
NA
NA

0
2
0
0
0
0

4
0
0
0
0
0
1
0
0
0
0
0
0
0
0
5
100
100

51
1

52
92
0
0
0
0
0
0
0
8

52
2
63
35
0

0

7

10,900
10,900
11,450
11,450


22,950
22,950
22,950

36,850
36,850
36,850

21,550
21,550
21,550

0
21
0
0
0
0

7
0
0
0
0
1
0
0
0
0
0
0
0
0
0
8
NA
NA

41
9

50
44
2
34
6
0
0
0
14
0

8
0
0
100
0

42

6

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
19
0
0
0

9
0
0
0
2
1
1
0
0
0
0
1
2
0
0
16
71
67

47
0

47
87
0
0
0
0
0
0
0
13

47
21
79
0
0

0

9

10,750
10,750
11,350
11,350


19,850
19,850
19,850

35,550
35,550
35,550

21,450
21,450
21,450

0
2
0
0
0
0

5
0
0
0
0
1
0
0
0
0
0
0
0
0
0
6
NA
NA

46
0

46
0
96
2
2
0
0
0
0
0

46
0
0
100
0

0

30

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

18
NA
NA
NA
NA
NA

7
0
0
0
1
8
1
0
0
0
2
0
1
0
0
20
NA
NA

20
15

35
17
0
23
9
0
0
0
0
51

35
0
3
97
0

0

5

5,773
5,773
5,773
5,773


14,158
14,158
14,158

15,783
15,783
15,783

7,783
7,783
7,783

6
NA
NA
NA
NA
NA

6
0
0
0
0
1
1
0
0
1
1
0
1
0
0
11

Page 2 of 2


Sources: STI: PopStats and STI: Colossus