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Guilford 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.
 
South University-High Point
Carolina Christian College  
Bennett College  
Salem College  
Carolina University  
Greensboro College  
Guilford College  
Rockingham Community College  
Randolph Community College  
Strayer University-North Carolina  
Alamance Community College  
Davidson-Davie Community College  
Winston-Salem State University  
High Point University  
Elon University  
Forsyth Technical Community College  
Wake Forest University  
Guilford Technical Community College  
North Carolina A & T State University  
University of North Carolina at Greensboro  
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
23

13,541
4,202

17,743
41
28
5
14
0
0
5
2
4

14,156
3
80
18
0

3,587

17

7,403
7,468
7,498
7,593


22,313
22,313
38,059

25,315
25,315
41,061

13,527
13,527
29,273

0
3,316
1,014
158
67
0

877
104
1
16
171
152
233
217
136
20
244
1
209
94
11
2,486
46
19

12,007
1,878

13,885
4
81
1
4
0
0
4
2
3

12,216
4
89
7
0

1,669

20

6,657
6,733
6,733
6,748


20,680
20,680
34,340

23,842
23,842
37,502

11,848
11,848
25,508

0
2,052
414
68
0
0

598
100
0
11
89
112
139
94
105
26
149
0
285
47
4
1,759
NA
NA

3,712
6,731

10,443
37
34
6
15
0
1
3
4
1

10,443
20
50
30
0

0

18

2,319
2,289
2,319
2,319


NA
NA
NA

24,290
24,290
29,666

13,418
13,418
18,794

1,476
NA
NA
NA
NA
NA

433
0
0
8
87
63
13
31
39
0
68
11
93
17
1
864
22
37

8,013
1,108

9,121
62
8
6
9
0
0
5
2
8

5,471
0
100
0
0

3,650

9

57,760
59,770
62,128
64,758


87,556
87,556
87,556

87,556
87,556
87,556

69,268
69,268
69,268

0
1,284
1,219
66
237
0

2,855
228
0
77
97
556
1,154
439
267
446
343
18
1,742
70
34
8,326
NA
NA

2,541
6,175

8,716
42
25
2
20
0
0
3
6
1

8,716
15
51
34
0

0

11

2,152
2,152
2,152
2,256


NA
NA
NA

22,929
22,929
27,537

8,498
8,498
13,106

1,150
NA
NA
NA
NA
NA

481
0
0
4
38
101
18
30
63
0
33
0
105
15
0
888
67
13

7,013
194

7,207
77
6
2
7
0
0
2
3
2

6,402
0
99
1
0

805

11

37,921
38,725
42,241
44,536


62,514
62,514
62,514

62,514
62,514
62,514

47,686
47,686
47,686

0
1,471
129
0
172
0

538
0
0
29
101
127
116
61
159
13
177
0
122
47
24
1,514
77
12

5,915
137

6,052
74
9
3
7
0
0
1
5
0

5,006
2
97
1
0

1,046

17

38,080
39,752
41,916
44,208


66,420
66,420
66,420

60,208
60,208
60,208

47,708
47,708
47,708

0
1,062
311
14
119
0

429
0
0
10
63
191
28
28
124
45
105
6
79
6
24
1,138
69
14

4,086
690

4,776
8
80
1
5
0
0
4
1
1

4,260
1
86
13
0

516

16

5,941
6,247
6,276
6,735


23,401
23,401
34,057

24,056
24,056
34,712

13,186
13,186
23,842

0
914
126
0
41
0

282
5
0
11
41
84
63
50
37
8
87
0
109
33
4
814
NA
NA

1,410
2,549

3,959
66
13
2
13
0
0
2
3
0

3,959
34
42
24
0

0

12

2,588
1,978
1,978
1,978


NA
NA
NA

21,022
21,022
25,630

8,396
8,396
13,004

576
NA
NA
NA
NA
NA

216
0
0
2
20
85
2
8
26
0
29
1
53
8
1
451
NA
NA

1,245
2,494

3,739
51
16
2
20
0
1
2
5
3

3,739
31
48
21
0

0

13

2,492
2,492
2,528
2,528


NA
NA
NA

30,801
30,801
36,915

18,208
18,208
24,322

819
NA
NA
NA
NA
NA

329
0
0
6
54
27
6
9
14
0
11
1
50
1
0
508
NA
NA

222
2,890

3,112
21
69
0
3
0
1
4
1
0

2,728
0
10
89
1

384

39

13,515
13,515
13,515
13,920


NA
NA
NA

25,158
25,158
25,158

15,720
15,720
15,720

165
326
174
0
0
0

26
0
0
0
23
22
4
0
0
0
0
14
2
0
0
91
NA
NA

603
2,045

2,648
63
6
2
22
0
1
2
4
0

2,648
41
41
18
0

0

13

2,386
2,396
2,430
2,416


NA
NA
NA

22,799
22,799
28,559

13,405
13,405
19,165

400
NA
NA
NA
NA
NA

126
1
1
2
23
31
3
11
12
7
19
0
36
8
0
280
NA
NA

419
1,358

1,777
63
15
1
10
0
0
4
5
1

1,777
37
42
21
0

0

12

1,966
1,966
1,966
1,966


NA
NA
NA

15,616
15,616
20,224

8,016
8,016
12,624

235
NA
NA
NA
NA
NA

91
0
0
1
17
27
4
6
7
0
16
1
25
0
0
195
84
12

1,120
88

1,208
45
26
6
14
0
0
5
2
2

1,160
27
67
6
1

48

12

40,120
41,340
41,140
41,140


57,010
57,010
57,010

57,010
57,010
57,010

43,910
43,910
43,910

0
224
2
0
0
0

95
0
0
5
33
10
22
6
41
0
23
0
4
9
0
248
92
7

686
212

898
37
32
1
14
0
0
5
10
0

809
6
79
15
0

89

10

18,960
18,960
19,620
20,400


36,845
36,845
36,845

35,845
35,845
35,845

26,659
26,659
26,659

0
116
43
0
0
0

67
0
0
3
18
12
8
0
33
5
10
0
3
0
0
159
34
64

552
341

893
32
16
1
9
0
0
4
1
37

424
0
81
18
0

469

15

14,580
14,400
15,050
16,000


34,200
34,200
34,200

33,520
33,520
33,520

21,800
21,800
21,800

2
69
91
22
0
0

34
0
0
1
7
2
7
2
21
1
4
0
5
0
0
84
87
9

352
167

519
44
19
2
15
0
1
7
11
2

436
9
77
14
0

83

7

31,016
31,016
31,016
32,236


52,368
52,368
52,368

49,086
49,086
49,086

36,546
36,546
36,546

0
82
37
0
0
0

55
0
0
4
10
26
13
9
18
0
20
0
9
6
0
170
34
20

189
6

195
1
53
1
3
0
1
20
16
7

195
3
89
9
0

0

7

18,014
18,550
18,550
19,140


41,964
41,964
41,964

41,964
41,964
41,964

32,160
32,160
32,160

0
36
0
0
0
0

29
0
0
1
0
23
4
0
0
0
20
0
23
0
0
100
NA
NA

74
0

74
1
81
0
11
1
0
5
0
0

53
0
64
36
0

21

5

8,930
8,930
8,930
9,420


33,753
33,753
33,753

44,219
44,219
44,219

21,907
21,907
21,907

0
3
2
0
0
1

5
0
0
0
2
0
1
0
1
0
0
0
0
0
0
9
NA
NA

50
20

70
21
64
1
4
0
3
3
3
0

70
0
11
89
0

0

19

19,354
19,354
19,354
20,650


NA
NA
NA

38,989
38,989
38,989

27,691
27,691
27,691

4
7
3
0
0
0

1
0
0
0
3
1
0
0
0
0
0
0
0
0
0
5


Sources: STI: PopStats and STI: Colossus