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Lee 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.
 
Morris College
Coker University  
University of South Carolina-Sumter  
Central Carolina Technical College  
Florence-Darlington Technical College  
Francis Marion 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
82
22

2,610
1,407

4,017
51
33
2
5
0
0
4
2
3

3,623
24
67
7
1

394

12

11,160
11,160
11,160
11,160


25,490
25,490
35,874

25,742
25,742
36,126

16,844
16,844
27,228

0
491
140
0
6
0

241
0
0
16
8
52
22
17
42
1
68
0
48
21
5
541
NA
NA

1,230
2,291

3,521
40
45
1
1
0
1
3
9
0

3,521
16
53
30
0

0

19

4,766
4,606
4,636
4,636


NA
NA
NA

15,334
15,598
17,470

9,196
9,460
11,332

397
NA
NA
NA
NA
NA

106
0
0
3
0
32
17
15
13
0
4
0
39
11
2
242
NA
NA

817
2,187

3,004
45
45
1
5
1
0
2
0
0

3,004
18
44
38
0

0

15

5,715
5,715
5,715
5,715


NA
NA
NA

16,190
17,069
19,491

11,718
12,597
15,019

374
NA
NA
NA
NA
NA

104
0
0
2
0
22
18
17
19
1
28
0
25
6
4
246
76
61

563
1,129

1,692
56
24
3
8
0
0
6
1
2

1,692
59
35
6
0

0

18

7,558
7,558
7,558
7,558


NA
NA
NA

22,913
22,913
33,593

13,471
13,471
24,151

175
NA
NA
NA
NA
NA

48
0
0
2
7
6
1
3
14
1
4
0
10
1
0
97
97
16

795
468

1,263
52
22
5
1
0
1
7
8
5

1,187
24
64
13
0

76

12

31,524
31,524
31,764
31,854


47,368
47,368
47,368

42,956
42,956
42,956

36,486
36,486
36,486

0
191
47
0
0
0

87
0
0
3
2
34
7
3
57
0
4
1
6
0
0
204
NA
NA

409
12

421
1
93
0
1
0
0
2
2
0

421
1
81
16
1

0

10

14,980
15,450
15,758
16,224


30,584
30,584
30,584

30,744
30,744
30,744

23,309
23,309
23,309

0
76
0
0
0
0

37
0
0
1
5
21
2
4
11
0
34
0
19
0
1
135


Sources: STI: PopStats and STI: Colossus