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Cooke 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.
 
Austin College
Grayson College  
North Central Texas College  
Texas Woman's University  
University of North Texas  
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
72
26

37,920
9,587

47,507
32
13
7
24
0
0
4
1
19

33,858
2
84
13
0

13,649

23

11,090
11,090
11,140
11,164


26,987
26,987
37,067

28,482
28,482
38,562

17,342
17,342
27,422

0
7,680
4,238
298
12
0

1,240
97
5
53
347
620
292
127
134
47
405
0
348
155
10
3,880
95
20

8,828
6,836

15,664
35
17
10
32
0
0
3
2
1

10,260
14
65
21
0

5,404

17

8,255
8,394
8,311
8,648


24,710
24,710
34,782

23,639
23,639
33,711

12,704
12,704
22,776

0
2,141
1,692
233
109
0

613
0
0
32
102
136
90
102
77
20
158
0
188
31
15
1,564
NA
NA

2,142
5,402

7,544
49
9
4
27
0
1
4
3
3

7,544
20
58
22
0

0

19

2,400
2,400
2,520
2,520


12,565
14,725
17,245

13,884
16,044
18,564

7,890
10,050
12,570

1,115
NA
NA
NA
NA
NA

233
0
0
4
19
56
24
13
13
0
15
0
129
9
1
516
NA
NA

1,522
2,654

4,176
62
9
2
22
0
4
0
0
0

4,176
28
48
24
0

0

20

2,236
2,782
2,872
2,910


15,088
16,408
18,028

26,295
27,615
29,235

8,961
10,281
11,901

555
50
0
0
0
0

155
2
3
2
90
45
3
8
16
0
35
0
53
5
0
417
47
12

1,131
5

1,136
50
7
11
25
0
1
4
0
1

1,128
1
97
1
0

8

11

42,590
43,525
44,950
46,500


62,620
62,620
62,620

58,555
58,555
58,555

50,805
50,805
50,805

0
285
15
0
0
0

108
0
0
3
5
28
17
13
50
3
19
1
30
8
2
287


Sources: STI: PopStats and STI: Colossus