Ersys Logo Ersys Name
Bastrop 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.
 
AOMA Graduate School of Integrative Medicine
Texas Health and Science University  
The Recording Conservatory of Austin  
Episcopal Theological Seminary of the Southwest  
Austin Presbyterian Theological Seminary  
South University-Austin  
Auguste Escoffier School of Culinary Arts-Austin  
The College of Health Care Professions-Austin  
Galen Health Institutes-Austin Campus  
Universal Technical Institute-West Texas  
Huston-Tillotson University  
Southern Careers Institute-Austin  
Southwestern University  
Concordia University Texas  
Saint Edward's University  
Austin Community College District  
The University of Texas at Austin  
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
29
49

49,894
3,188

53,082
33
5
22
25
0
0
4
2
10

42,444
1
97
2
0

10,638

18

11,448
11,752
11,698
11,678


31,572
31,572
62,672

32,276
32,276
63,376

17,436
17,436
48,536

0
10,094
3,390
842
449
0

3,012
0
0
205
426
2,389
2,011
3,162
918
253
1,323
59
1,767
544
294
16,363
NA
NA

8,698
26,902

35,600
38
8
7
41
0
0
3
1
1

35,600
21
48
31
0

0

18

2,550
2,550
2,550
2,550


NA
NA
NA

27,398
33,428
35,438

9,158
15,188
17,198

4,382
77
0
0
0
0

960
0
0
41
590
233
104
151
153
4
198
0
416
60
0
2,910
84
14

2,758
551

3,309
32
4
2
52
0
0
2
1
6

2,731
1
93
7
0

578

13

49,076
49,996
50,766
51,384


70,852
70,852
70,852

73,126
73,126
73,126

57,440
57,440
57,440

0
659
249
12
0
0

218
0
0
4
1
157
25
31
43
3
36
6
51
15
0
590
91
12

1,239
375

1,614
36
14
5
37
0
0
3
4
0

1,391
0
68
32
0

223

16

33,800
34,500
35,620
36,690


54,282
54,282
54,282

50,186
50,186
50,186

41,342
41,342
41,342

0
502
164
11
0
0

84
0
0
2
6
28
22
6
76
0
5
0
8
0
0
237
39
16

1,443
14

1,457
54
6
4
28
0
0
5
1
2

1,457
1
96
3
0

0

11

45,120
47,000
48,650
51,058


67,606
67,606
67,606

71,078
71,078
71,078

54,848
54,848
54,848

0
398
0
0
0
0

131
0
0
7
26
52
18
16
70
5
44
0
41
17
4
431
NA
NA

1,079
0

1,079
29
24
1
38
0
1
4
4
0

1,079
0
29
71
0

0

25

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

20
NA
NA
NA
NA
NA

22
0
0
0
4
10
4
0
0
0
0
20
6
2
0
68
NA
NA

738
291

1,029
3
76
1
16
0
0
0
3
0

982
1
71
27
0

47

16

14,703
14,703
14,703
14,703


25,652
25,652
25,652

27,913
27,913
27,913

17,203
17,203
17,203

39
145
10
0
0
0

64
0
0
3
19
24
4
4
13
0
18
0
9
3
0
161
NA
NA

955
0

955
25
7
1
51
1
0
13
2
0

955
1
81
18
0

0

53

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

41
NA
NA
NA
NA
NA

18
0
0
0
0
8
12
0
0
0
0
0
1
1
0
40
NA
NA

588
329

917
27
29
5
23
0
0
3
12
0

917
0
22
78
0

0

12

NA
15,770
15,800
16,400


NA
NA
NA

37,109
37,109
37,109

21,449
21,449
21,449

65
0
0
0
0
0

40
0
0
0
6
11
0
1
0
0
1
0
13
0
0
72
NA
NA

829
0

829
18
17
2
51
0
1
5
7
0

829
0
62
38
0

0

24

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

72
NA
NA
NA
NA
NA

34
0
0
0
12
8
0
0
0
0
0
0
1
0
0
55
NA
NA

372
0

372
38
24
4
28
1
1
3
1
0

372
0
66
34
0

0

25

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

197
NA
NA
NA
NA
NA

14
0
0
0
2
4
6
0
0
0
1
9
1
0
0
37
NA
NA

244
46

290
27
30
5
30
1
0
3
1
2

243
0
26
74
0

47

12

17,014
17,014
17,014
18,238


NA
NA
NA

36,577
36,577
36,577

25,279
25,279
25,279

23
53
6
0
0
0

20
0
0
1
14
6
1
1
0
0
1
0
4
0
0
48
NA
NA

49
119

168
76
11
2
5
0
1
1
0
4

0
NA
NA
NA
NA

168

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
34
0
8
0

22
0
0
4
0
4
4
4
2
0
2
0
14
4
0
60
NA
NA

59
57

116
70
11
5
11
0
0
3
0
0

0
NA
NA
NA
NA

116

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
34
0
0
0

20
0
0
4
1
7
5
1
3
0
4
0
10
3
0
58
NA
NA

82
0

82
55
30
1
12
0
0
0
1
0

82
0
46
54
0

0

1

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

7
NA
NA
NA
NA
NA

3
0
0
0
1
2
0
0
0
0
1
0
0
0
0
7
NA
NA

55
10

65
18
3
31
6
0
2
8
12
20

0
NA
NA
NA
NA

65

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
15
29
0
0
0

5
0
0
0
0
0
0
0
0
0
0
1
6
0
0
12
NA
NA

26
9

35
34
0
46
17
0
0
0
3
0

0
NA
NA
NA
NA

35

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
30
2
2
0

12
0
0
1
5
5
2
0
0
0
3
5
2
2
0
37


Sources: STI: PopStats and STI: Colossus