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Allegany 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.
 
Elim Bible Institute and College
University of Pittsburgh-Bradford  
Houghton University  
Alfred University  
SUNY Corning Community College  
SUNY College of Technology at Alfred  
SUNY College at Geneseo  
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
64
11

3,753
175

3,928
81
4
3
7
0
0
1
3
1

3,868
5
94
1
0

60

15

8,856
8,927
8,966
8,966


27,846
27,846
38,086

26,132
26,132
36,372

12,466
12,466
22,706

0
1,049
42
0
0
0

258
0
0
11
25
45
51
51
40
15
127
0
77
50
3
753
82
20

3,239
510

3,749
70
12
1
12
0
0
5
0
0

3,749
11
79
10
0

0

16

8,726
8,857
8,862
8,862


26,588
26,588
34,093

23,349
23,349
30,854

13,142
13,142
20,647

713
391
0
0
0
0

197
0
0
6
28
36
42
34
28
22
106
0
48
32
2
581
NA
NA

1,212
2,425

3,637
48
3
2
3
0
0
0
44
0

3,637
64
25
10
0

0

20

5,824
5,966
5,966
5,966


19,026
19,026
22,290

18,866
18,866
22,130

9,266
9,266
12,530

348
NA
NA
NA
NA
NA

85
0
0
1
9
45
1
5
19
0
24
0
21
7
0
217
48
12

1,588
255

1,843
53
9
2
9
0
0
2
18
7

1,422
4
92
4
0

421

10

36,276
36,276
37,644
39,530


57,900
57,900
57,900

57,900
57,900
57,900

46,180
46,180
46,180

0
299
222
6
0
0

165
0
0
17
24
46
34
36
53
11
61
14
60
27
3
551
93
24

841
173

1,014
73
6
3
2
0
0
5
6
5

975
10
84
5
0

39

13

34,466
16,446
16,446
17,290


31,600
31,600
31,600

28,690
28,690
28,690

21,690
21,690
21,690

21
190
17
0
0
0

70
0
0
3
6
20
13
6
25
6
9
0
23
2
0
183
91
7

951
52

1,003
66
11
4
7
0
0
3
4
4

1,003
3
93
4
0

0

12

14,082
14,354
14,620
14,620


31,000
31,000
42,874

33,490
33,490
45,364

20,152
20,152
32,026

21
193
0
0
0
0

80
0
0
0
0
20
11
10
15
1
0
2
45
12
0
196
100
52

71
27

98
62
11
0
6
0
0
3
9
8

98
2
62
35
1

0

7

9,980
9,980
9,980
10,480


19,630
19,630
19,630

24,230
24,230
24,230

12,230
12,230
12,230

10
17
0
0
0
0

12
0
0
0
0
5
0
0
2
0
3
0
8
3
0
33


Sources: STI: PopStats and STI: Colossus