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Saratoga 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.
 
Belanger School of Nursing
Samaritan Hospital School of Nursing  
Davis College  
Bryant & Stratton College-Albany  
Mildred Elley School-Albany Campus  
Albany Law School  
Maria College of Albany  
Albany Medical College  
Albany College of Pharmacy and Health Sciences  
Fulton-Montgomery Community College  
Russell Sage College  
Union College  
SUNY Adirondack  
Skidmore College  
Siena College  
Schenectady County Community College  
Rensselaer Polytechnic Institute  
Hudson Valley Community College  
Empire State University  
University at Albany  
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
70
13

14,029
2,851

16,880
41
19
8
16
0
0
4
2
10

12,190
6
89
5
0

4,690

17

10,160
10,408
10,408
10,408


29,790
29,790
48,380

32,552
32,552
51,142

14,108
14,108
32,698

0
2,918
1,278
157
8
0

821
1
5
28
103
150
348
156
111
80
311
0
131
166
18
2,429
NA
NA

3,662
5,883

9,545
51
14
3
14
0
0
3
14
0

7,789
1
26
73
1

1,756

17

7,630
7,630
7,630
7,630


NA
NA
NA

26,208
26,208
36,118

10,748
10,748
20,658

430
1,716
399
0
0
0

325
1
0
0
45
38
101
29
1
50
7
0
177
4
3
781
NA
NA

4,675
4,768

9,443
65
13
8
8
0
0
4
2
0

9,443
28
53
20
0

0

17

5,964
5,964
6,018
6,694


NA
NA
NA

29,164
29,164
34,220

13,504
13,504
18,560

1,301
NA
NA
NA
NA
NA

286
0
0
2
10
23
23
24
23
11
93
8
177
3
7
690
58
16

6,922
102

7,024
42
5
19
11
0
0
5
4
14

5,954
3
97
1
0

1,070

14

57,012
58,526
60,074
61,884


82,404
82,404
82,404

82,404
82,404
82,404

74,944
74,944
74,944

0
1,379
347
146
0
0

478
128
0
19
131
144
139
116
92
33
163
1
133
81
2
1,660
NA
NA

1,060
2,824

3,884
60
14
14
6
0
1
4
2
0

3,884
59
26
14
0

0

15

5,524
5,524
5,764
5,924


NA
NA
NA

22,892
22,892
25,604

12,414
12,414
15,126

298
NA
NA
NA
NA
NA

77
0
0
5
41
40
2
11
2
0
19
0
29
0
0
226
71
13

3,451
172

3,623
74
4
4
9
0
0
4
1
3

3,497
3
94
2
0

126

13

40,175
40,960
41,980
44,405


64,870
64,870
64,870

60,945
60,945
60,945

48,789
48,789
48,789

0
770
70
0
0
0

268
0
0
7
41
70
30
29
91
5
81
0
54
24
11
711
23
26

2,739
37

2,776
64
4
6
10
0
0
6
2
9

2,776
1
98
1
0

0

8

58,278
60,302
62,398
65,030


85,270
85,270
85,270

NA
NA
NA

74,896
74,896
74,896

0
617
0
0
0
0

334
3
0
18
31
57
56
40
91
10
179
0
112
35
5
971
NA
NA

1,339
1,384

2,723
83
5
1
5
0
0
3
2
0

2,723
27
55
17
0

0

15

5,832
5,784
6,088
6,528


24,242
24,242
26,906

21,828
21,828
24,492

11,328
11,328
13,992

434
NA
NA
NA
NA
NA

104
0
0
2
25
34
40
6
11
0
33
6
37
0
0
298
44
14

2,066
16

2,082
66
4
7
9
0
0
3
1
10

2,082
0
98
2
0

0

10

59,502
61,659
63,954
66,456


84,870
84,870
84,870

83,370
83,370
83,370

75,300
75,300
75,300

0
428
0
0
0
0

214
0
0
12
7
76
28
37
97
20
167
0
71
27
0
756
76
15

1,437
627

2,064
62
12
5
11
0
1
3
7
0

1,080
3
87
10
0

984

10

32,950
33,894
35,351
36,756


54,322
54,322
54,322

56,442
56,442
56,442

41,281
41,281
41,281

0
277
292
35
45
0

116
0
0
6
29
46
10
17
18
6
30
0
37
8
1
324
NA
NA

606
1,155

1,761
66
4
2
11
0
0
3
10
4

1,761
49
37
15
0

0

23

5,718
5,718
5,862
6,054


NA
NA
NA

21,148
21,148
21,748

10,154
10,154
10,754

238
NA
NA
NA
NA
NA

42
0
0
1
26
14
2
4
3
0
15
0
15
0
0
122
59
10

832
43

875
44
9
18
8
0
0
6
10
4

547
11
83
6
0

328

10

36,395
37,115
38,225
40,375


56,015
56,015
56,015

58,255
58,255
58,255

45,575
45,575
45,575

0
79
40
0
157
0

86
16
0
2
9
30
15
7
24
18
11
0
14
0
0
232
NA
NA

834
0

834
48
9
27
9
0
0
0
5
2

0
NA
NA
NA
NA

834

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
80
5
130
1

572
0
0
4
0
148
13
8
30
709
82
0
442
0
0
2,008
61
29

189
563

752
51
17
4
9
0
0
5
10
4

703
0
31
69
0

49

5

15,610
16,035
16,510
17,680


NA
NA
NA

31,374
31,374
31,374

21,000
21,000
21,000

166
47
20
0
0
0

69
2
0
3
10
15
8
4
3
0
5
0
5
0
0
124
NA
NA

570
58

628
69
7
6
9
0
0
2
5
2

0
NA
NA
NA
NA

628

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
29
0
163
0

53
0
0
7
11
18
10
1
14
0
0
0
17
1
0
132
NA
NA

325
60

385
21
32
1
16
1
1
1
27
0

385
0
21
79
0

0

12

13,509
13,873
13,953
15,865


NA
NA
NA

32,068
32,068
32,068

23,392
23,392
23,392

34
NA
NA
NA
NA
NA

28
0
0
1
10
1
0
2
0
0
2
5
2
0
0
51
NA
NA

186
38

224
24
38
4
24
0
1
10
0
0

224
3
66
31
0

0

16

18,215
18,356
18,404
18,892


NA
NA
NA

26,072
26,072
26,072

22,172
22,172
22,172

76
16
0
0
0
0

28
0
0
0
0
5
1
1
19
0
4
1
5
0
0
64
33
100

55
82

137
59
7
1
9
0
0
5
18
0

137
36
47
17
1

0

6

17,150
17,150
17,200
17,500


27,500
27,500
27,500

27,280
27,280
27,280

22,380
22,380
22,380

2
21
0
0
0
0

11
0
0
0
2
2
1
0
0
0
0
0
1
0
0
17
NA
NA

11
121

132
61
17
6
8
0
2
1
5
0

132
0
34
66
0

0

6

14,292
14,292
14,292
14,671


NA
NA
NA

36,461
36,461
36,461

22,561
22,561
22,561

53
NA
NA
NA
NA
NA

12
0
0
0
1
2
1
0
0
0
0
0
1
0
0
17
83
3

8
124

132
58
9
14
0
0
5
2
12
0

132
0
67
33
0

0

4

11,489
11,489
12,035
11,928


NA
NA
NA

28,970
28,970
28,970

18,492
18,492
18,492

55
NA
NA
NA
NA
NA

19
0
0
0
3
2
0
0
0
0
0
0
1
0
0
25

Page 1 of 2
St. Peter's Hospital College of Nursing
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
100
50

6
119

125
49
22
10
7
0
0
0
13
0

125
1
48
51
0

0

8

13,911
14,292
14,292
14,756


NA
NA
NA

36,546
36,546
36,546

22,646
22,646
22,646

55
NA
NA
NA
NA
NA

11
0
0
0
1
2
1
0
0
0
0
0
1
0
0
16

Page 2 of 2


Sources: STI: PopStats and STI: Colossus