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Steele 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.
 
Rasmussen University-North Dakota
Mayville State University  
Valley City State University  
North Dakota State University-Main Campus  
University of North Dakota  
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
77
31

8,919
5,253

14,172
75
3
3
5
0
1
4
2
6

10,216
1
78
21
0

3,956

17

10,276
10,596
10,951
10,951


26,243
26,243
30,862

26,243
26,243
30,862

15,197
15,197
19,816

0
1,859
874
105
254
0

865
3
0
58
85
135
273
310
232
58
190
1
305
100
60
2,675
96
32

9,796
2,156

11,952
80
3
2
3
0
1
4
1
6

9,791
0
94
6
0

2,161

18

10,168
10,601
10,793
10,857


24,698
24,698
29,352

24,698
24,698
29,352

16,822
16,822
21,476

0
2,131
435
113
71
0

544
212
152
12
118
144
150
291
129
51
254
12
203
99
18
2,389
69
57

848
906

1,754
82
2
1
4
0
1
4
4
2

1,628
23
60
16
0

126

12

7,942
8,195
8,458
8,514


21,130
21,130
26,094

21,130
21,130
26,094

13,850
13,850
18,814

8
234
36
0
0
0

100
0
0
2
7
29
10
13
19
3
17
0
14
11
1
226
NA
NA

546
479

1,025
78
4
1
6
0
1
7
1
2

963
15
63
21
0

62

14

7,381
7,622
7,873
7,935


21,123
21,123
22,752

21,123
21,123
22,752

12,035
12,035
13,664

14
212
11
0
0
0

55
0
0
2
29
23
6
4
7
4
16
0
17
6
0
169
NA
NA

32
12

44
55
16
5
11
0
0
5
9
0

44
0
45
55
0

0

1

10,709
10,901
10,849
12,715


NA
NA
NA

28,546
28,546
28,546

18,610
18,610
18,610

159
33
0
0
0
0

25
0
0
0
5
3
0
0
0
0
0
0
2
0
0
35


Sources: STI: PopStats and STI: Colossus