Ersys Logo Ersys Name
Greene 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.
 
Barton College
Wilson Community College  
University of Mount Olive  
Lenoir Community College  
Wayne Community College  
Pitt Community College  
East Carolina 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
90
20

20,165
6,620

26,785
63
17
3
9
0
1
4
4
1

21,328
2
82
16
0

5,457

17

7,239
7,297
7,325
7,361


24,331
24,331
40,608

24,365
24,365
40,642

13,646
13,646
29,923

0
4,829
1,443
82
241
0

1,496
97
289
7
221
155
295
374
283
313
681
2
1,078
140
18
5,449
NA
NA

2,493
4,878

7,371
48
33
1
11
0
1
3
3
0

7,371
21
55
24
0

0

13

1,940
1,940
1,940
1,972


NA
NA
NA

20,310
20,310
24,918

11,386
11,386
15,994

1,112
NA
NA
NA
NA
NA

263
0
0
6
61
50
9
19
53
0
16
0
112
4
0
593
NA
NA

849
2,034

2,883
52
22
1
22
0
0
2
1
0

2,883
22
45
33
0

0

12

2,524
2,524
2,524
2,524


NA
NA
NA

17,524
17,524
23,668

7,974
7,974
14,118

532
NA
NA
NA
NA
NA

156
0
0
4
51
40
7
10
17
0
39
0
41
0
0
365
NA
NA

651
1,736

2,387
49
30
1
17
0
1
2
0
0

2,387
36
37
26
0

0

10

2,568
2,568
2,568
2,568


NA
NA
NA

19,150
19,150
25,294

11,195
11,195
17,339

359
NA
NA
NA
NA
NA

139
0
19
3
4
19
1
9
13
0
18
0
66
0
0
291
78
20

1,356
772

2,128
53
26
1
10
0
1
5
1
3

1,937
2
53
45
1

191

19

22,194
22,618
23,592
25,950


40,512
40,512
40,512

35,100
35,100
35,100

29,100
29,100
29,100

56
456
100
0
0
0

86
0
0
3
25
40
9
6
31
2
15
0
18
0
1
236
NA
NA

300
1,451

1,751
41
32
1
19
0
0
2
5
0

1,751
35
37
28
0

0

9

2,572
2,572
2,572
2,572


NA
NA
NA

19,582
19,582
25,726

9,132
9,132
15,276

243
NA
NA
NA
NA
NA

89
0
0
2
18
24
6
5
4
0
20
0
16
0
0
184
96
13

1,038
221

1,259
53
30
1
10
0
0
1
0
4

1,163
0
81
19
0

96

14

32,590
33,430
34,400
35,600


52,150
52,150
52,150

53,610
53,610
53,610

39,100
39,100
39,100

0
236
49
0
0
0

74
0
0
3
3
36
11
5
51
8
22
0
17
6
0
236


Sources: STI: PopStats and STI: Colossus