Maine has 38 colleges and universities that educate 72,605 students, employ a combined 14,621 nonstudent workers, and generate about $2.2 billion in annual revenue.
Colleges and universities in Maine generate a total annual economic contribution—including the spending of students and visitors, and multiplier effects—of an estimated $4.5 billion in output, 31,267 full- and part-time jobs, and $1.7 billion in labor income.
Maine’s colleges and universities support at least ten jobs in 125 Maine sectors, and there are statewide employment impacts of twenty jobs or more in 108 industries.
This report examines the statewide economic contribution of colleges and universities in Maine. Economic contribution is defined as the direct revenue generated by these institutions and the spending of their students and visitors; employment and employee compensation in Maine’s colleges and universities and the jobs and earnings supported by the spending of students and visitors; and the multiplier effects associated with the spending of workers (i.e., induced effects) and companies (i.e., indirect effects) connected to Maine’s institutions of higher learning (and the workers and businesses supported by the spending of students and visitors). The economic impact analysis includes 38 institutions of postsecondary education (e.g., private colleges, public universities, community colleges) and uses data from the U.S. Department of Education (Integrated Postsecondary Education Data System, National Center for Education Statistics), surveys of student expenditures, past economic impact studies, and information collected from the websites of Maine’s colleges and universities. The multiplier effects and some of the direct impacts (e.g., labor income) are estimated by a Maine input-output model (IMPLAN).
Bailey, Megan; Crawley, Andrew; and Gabe, Todd, "Economic Contribution of Colleges and Universities in Maine" (2020). General University of Maine Publications. 2902.
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