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Loudon 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.
 
Johnson University
Tennessee Wesleyan University  
Maryville College  
Roane State Community College  
South College  
Pellissippi State Community College  
The University of Tennessee-Knoxville  
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
46
29

32,058
4,246

36,304
77
4
3
6
0
0
5
1
4

28,883
38
59
3
0

7,421

18

13,264
13,244
13,244
13,484


33,678
33,678
52,168

33,678
33,678
52,168

21,178
21,178
39,668

0
5,568
1,871
442
191
0

1,958
103
47
88
538
862
704
900
541
145
1,144
11
1,035
410
91
8,577
NA
NA

4,283
4,427

8,710
75
6
3
9
0
0
4
2
1

8,710
22
59
19
0

0

18

4,318
4,456
4,456
4,576


NA
NA
NA

19,747
19,747
32,947

10,822
10,822
24,022

1,377
NA
NA
NA
NA
NA

317
0
0
7
15
12
1
6
96
35
18
0
109
10
2
628
NA
NA

6,813
1,421

8,234
51
32
3
2
0
1
6
1
3

6,406
1
38
61
0

1,828

23

16,975
17,335
17,335
17,935


NA
NA
NA

41,934
41,934
41,934

24,078
24,078
24,078

1,227
471
308
0
263
0

690
0
0
8
58
141
23
22
0
0
12
0
309
0
0
1,263
NA
NA

2,404
2,418

4,822
78
2
1
4
0
0
3
11
0

4,822
31
49
21
0

0

19

4,552
4,636
4,724
4,762


NA
NA
NA

21,213
21,213
35,073

7,623
7,623
21,483

778
NA
NA
NA
NA
NA

174
0
0
2
85
5
4
6
0
16
23
0
85
10
0
410
66
17

1,027
120

1,147
71
9
1
6
0
1
6
0
6

1,142
10
87
4
0

5

12

36,292
37,016
37,758
38,514


55,728
55,728
55,728

55,728
55,728
55,728

42,728
42,728
42,728

0
175
3
0
0
0

85
0
0
3
11
25
12
10
59
2
36
0
24
12
0
279
59
29

972
102

1,074
72
5
2
5
0
0
2
3
11

857
2
85
13
0

217

12

25,850
26,590
27,350
29,264


43,080
43,080
43,080

48,664
48,664
48,664

33,664
33,664
33,664

0
275
57
0
0
0

68
0
0
5
22
7
2
5
24
0
0
0
6
0
0
139
54
55

739
211

950
75
7
1
5
0
0
2
4
5

708
0
88
11
0

242

11

18,290
19,274
19,274
20,318


35,002
35,002
35,002

36,863
36,863
36,863

25,724
25,724
25,724

18
133
97
6
0
0

63
0
0
3
7
29
7
6
33
1
17
0
29
6
0
201


Sources: STI: PopStats and STI: Colossus