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Charles City 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.
 
Bon Secours St Mary's Hospital School of Medical Imaging
Southside College of Health Sciences  
Chester Career College  
Lotus Professional College  
Union Presbyterian Seminary  
Galen Health Institutes-Richmond  
Fortis College-Richmond  
South University-Richmond  
Bon Secours Memorial College of Nursing  
Virginia Union University  
University of Richmond  
Virginia State University  
J Sargeant Reynolds Community College  
Brightpoint Community College  
William & Mary  
Virginia Commonwealth 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
93
25

23,412
4,826

28,238
42
19
13
10
0
0
7
4
4

21,205
1
90
9
0

7,033

17

14,710
15,319
15,828
16,458


39,967
39,967
62,551

40,786
40,786
63,370

25,732
25,732
48,316

0
4,679
1,468
400
380
0

2,448
261
8
57
374
499
889
578
652
414
190
0
359
182
0
6,911
33
28

8,488
1,274

9,762
61
7
10
8
0
0
6
2
6

6,963
1
98
1
0

2,799

13

23,628
23,812
23,970
25,040


43,035
43,035
67,407

43,035
43,035
67,407

28,970
28,970
53,342

0
1,597
963
66
217
0

751
40
0
46
137
116
305
346
214
42
238
1
293
90
17
2,636
NA
NA

2,025
6,998

9,023
52
22
4
13
0
0
5
3
1

9,023
34
44
22
0

0

22

4,800
4,800
4,800
4,938


NA
NA
NA

20,308
20,308
26,311

10,698
10,698
16,701

873
NA
NA
NA
NA
NA

201
0
0
4
32
76
12
7
4
0
13
0
38
13
0
400
NA
NA

2,556
5,151

7,707
44
28
7
10
0
0
5
3
3

7,707
25
44
31
0

0

21

4,998
3,998
5,136
5,136


NA
NA
NA

19,336
19,336
25,339

10,836
10,836
16,839

1,049
NA
NA
NA
NA
NA

201
0
0
7
32
92
14
18
3
0
31
0
61
15
1
475
89
15

4,810
380

5,190
3
93
0
0
0
0
0
3
1

4,829
1
91
8
0

361

13

9,154
9,154
9,654
9,755


27,661
27,661
39,912

31,063
31,063
43,314

23,881
23,881
36,132

0
620
88
27
0
0

372
0
0
11
59
99
85
47
51
14
40
0
124
20
8
930
23
24

3,408
368

3,776
61
7
6
9
0
0
4
3
10

3,054
1
96
3
0

722

7

56,860
58,570
60,330
62,600


81,320
81,320
81,320

81,320
81,320
81,320

65,110
65,110
65,110

0
804
96
0
151
0

509
1
0
30
130
164
148
79
133
21
311
10
181
63
5
1,785
98
15

1,420
242

1,662
1
89
0
2
0
0
3
4
2

1,170
0
82
17
0

492

22

13,530
13,530
14,305
14,880


29,432
29,432
29,432

24,880
24,880
24,880

22,380
22,380
22,380

0
128
90
0
0
14

103
12
9
3
149
14
19
7
48
0
8
15
20
27
3
437
NA
NA

409
118

527
63
25
6
1
0
1
4
0
0

527
0
46
54
0

0

10

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
145
0
0
0
0

43
0
0
1
8
26
4
11
7
0
4
0
5
0
0
109
NA
NA

244
173

417
28
39
4
4
0
0
4
22
1

320
0
33
67
0

97

11

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


NA
NA
NA

36,577
36,577
36,577

25,279
25,279
25,279

16
34
51
0
0
0

25
0
0
1
12
10
1
1
0
0
2
0
4
0
0
56
NA
NA

395
4

399
9
77
3
4
0
1
5
2
0

399
0
46
54
0

0

21

13,557
14,495
14,332
14,986


NA
NA
NA

36,539
36,539
36,539

19,844
19,844
19,844

40
NA
NA
NA
NA
NA

19
0
0
1
0
6
3
0
4
0
0
0
2
0
0
35
NA
NA

228
146

374
23
49
4
6
0
0
2
16
0

374
0
15
85
0

0

12

NA
39,230
39,230
15,860


NA
NA
NA

36,569
36,569
36,569

20,909
20,909
20,909

0
NA
NA
NA
NA
NA

18
0
0
0
3
7
0
1
0
0
1
0
2
0
0
32
NA
NA

115
58

173
60
19
2
1
0
1
0
9
9

0
NA
NA
NA
NA

173

NA

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
35
0
12
0

28
0
0
10
0
18
1
2
2
0
2
0
13
2
0
78
NA
NA

18
143

161
45
35
5
7
0
1
7
1
0

157
0
28
72
0

4

10

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
0
0
0
0
0

9
0
0
0
1
4
2
0
2
0
1
0
4
0
0
23
NA
NA

97
50

147
16
76
0
5
0
0
3
0
0

147
1
45
53
1

0

14

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

16
NA
NA
NA
NA
NA

8
0
0
0
0
4
2
0
0
0
0
2
1
0
0
17
NA
NA

25
66

91
67
22
2
1
0
4
2
1
0

91
0
41
59
0

0

4

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

54
NA
NA
NA
NA
NA

12
0
0
0
4
11
1
1
1
0
0
0
1
0
0
31
NA
NA

31
0

31
81
16
3
0
0
0
0
0
0

31
0
52
48
0

0

8

NA
NA
NA
NA


NA
NA
NA

NA
NA
NA

NA
NA
NA

0
NA
NA
NA
NA
NA

4
0
0
0
0
3
0
0
0
0
0
0
0
0
0
7


Sources: STI: PopStats and STI: Colossus