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2006 - 2007 Releases
September 14, 2006 - Study finds Hastings College adds more than $54 million to Hastings/Adams County economy
Whether viewed separately or as part of the larger group of Nebraska’s private colleges and universities, Hastings College plays a vital role in the economic strength of Hastings, Adams County, and the state of Nebraska. A recent economic impact study reveals that Nebraska’s 14 private colleges and universities contribute $1.42 billion to the state’s economy and support more than 11,000 jobs. The study was conducted on behalf of the Nebraska Educational Finance Authority (NEFA). Dr. Ernie Goss, professor of economics at Creighton University, tallied the importance of private colleges as a collective force in Nebraska’s economy. Hastings College has 1,143 students, employs 240 faculty and staff members, and spends $19.7 million in the local economy, according to the latest available data. The spillover effect of those expenditures totals more than $54 million annually for the local economy and supports approximately 1,008 jobs. That translates into $147,945 per day. The college is the sixth largest employer in Hastings. “We are proud to be such an integral part of Hastings and look forward to a long and mutually beneficial relationship with the community,” said Dr. Phil Dudley, Hastings College president. “While we do play a significant role in the area’s economy, that’s only part of the story,” said Dudley. “We contribute in many intangible ways as well, from attracting talented faculty and students to the community, to strengthening local business and educational partnerships, to providing cultural and entertainment opportunities for local residents. Our campus is an essential part of the fabric of life in Hastings.” Throughout Nebraska, the state’s 14 private colleges and universities spend $500 million each year and employ 4,888 full-time faculty and staff members to educate their 26,000-plus students statewide. The spillover effect of those expenditures totals $900 million annually and creates approximately 6,300 jobs, Goss reported. “It is clear that private colleges and universities play a key role in the Nebraska economy, directly creating jobs and supporting a great deal of economic activity in their communities and statewide,” Goss said. The retail trade industry received the greatest boost, with 5,303 jobs, $91.8 million in wages and $211.3 million in sales attributed to independent colleges and universities, their students and employees. The construction industry followed, with 864 jobs, $74 million in sales and $27.5 million in wages. In all, 381 of Nebraska’s 507 industries, or approximately 75 percent, are positively impacted by the state’s independent colleges and universities, the study concluded. Goss reported that the presence of an independent college or university in a community had a positive impact on both personal income and population growth in their counties. Personal income in Nebraska counties with an independent college or university grew 80 percent from 1990 to 2000, compared with income growth of 45.2 percent in other counties. Likewise, counties with an independent college or university experienced 13 percent population growth from 1990 to 2000, compared to three percent in other counties. “These figures illustrate the ‘brain gain’ that occurs in communities with independent colleges and universities as they attract highly educated faculty from across the country and as students graduate and pursue career opportunities in the area,” Goss said. Goss is professor of economics at Creighton University and holds the MacAllister Chair in Regional Economics at the Omaha institution. His study was commissioned by NEFA with additional support from the Association of Independent Colleges and Universities of Nebraska (AICUN) and the Nebraska Independent College Foundation (NICF). NEFA assists private institutions of higher education in the state of Nebraska in the construction, financing, and refinancing of needed educational facilities, equipment and structures by means other than the appropriation of public funds.
September 14, 2006 - Study finds Hastings College adds more than $54 million to Hastings/Adams County economy
Whether viewed separately or as part of the larger group of Nebraska’s private colleges and universities, Hastings College plays a vital role in the economic strength of Hastings, Adams County, and the state of Nebraska. A recent economic impact study reveals that Nebraska’s 14 private colleges and universities contribute $1.42 billion to the state’s economy and support more than 11,000 jobs. The study was conducted on behalf of the Nebraska Educational Finance Authority (NEFA). Dr. Ernie Goss, professor of economics at Creighton University, tallied the importance of private colleges as a collective force in Nebraska’s economy. Hastings College has 1,143 students, employs 240 faculty and staff members, and spends $19.7 million in the local economy, according to the latest available data. The spillover effect of those expenditures totals more than $54 million annually for the local economy and supports approximately 1,008 jobs. That translates into $147,945 per day. The college is the sixth largest employer in Hastings. “We are proud to be such an integral part of Hastings and look forward to a long and mutually beneficial relationship with the community,” said Dr. Phil Dudley, Hastings College president. “While we do play a significant role in the area’s economy, that’s only part of the story,” said Dudley. “We contribute in many intangible ways as well, from attracting talented faculty and students to the community, to strengthening local business and educational partnerships, to providing cultural and entertainment opportunities for local residents. Our campus is an essential part of the fabric of life in Hastings.” Throughout Nebraska, the state’s 14 private colleges and universities spend $500 million each year and employ 4,888 full-time faculty and staff members to educate their 26,000-plus students statewide. The spillover effect of those expenditures totals $900 million annually and creates approximately 6,300 jobs, Goss reported. “It is clear that private colleges and universities play a key role in the Nebraska economy, directly creating jobs and supporting a great deal of economic activity in their communities and statewide,” Goss said. The retail trade industry received the greatest boost, with 5,303 jobs, $91.8 million in wages and $211.3 million in sales attributed to independent colleges and universities, their students and employees. The construction industry followed, with 864 jobs, $74 million in sales and $27.5 million in wages. In all, 381 of Nebraska’s 507 industries, or approximately 75 percent, are positively impacted by the state’s independent colleges and universities, the study concluded. Goss reported that the presence of an independent college or university in a community had a positive impact on both personal income and population growth in their counties. Personal income in Nebraska counties with an independent college or university grew 80 percent from 1990 to 2000, compared with income growth of 45.2 percent in other counties. Likewise, counties with an independent college or university experienced 13 percent population growth from 1990 to 2000, compared to three percent in other counties. “These figures illustrate the ‘brain gain’ that occurs in communities with independent colleges and universities as they attract highly educated faculty from across the country and as students graduate and pursue career opportunities in the area,” Goss said. Goss is professor of economics at Creighton University and holds the MacAllister Chair in Regional Economics at the Omaha institution. His study was commissioned by NEFA with additional support from the Association of Independent Colleges and Universities of Nebraska (AICUN) and the Nebraska Independent College Foundation (NICF). NEFA assists private institutions of higher education in the state of Nebraska in the construction, financing, and refinancing of needed educational facilities, equipment and structures by means other than the appropriation of public funds.
Nebraska has 14 regionally accredited, not-for-profit, privately controlled colleges and universities. They are: Bellevue University (Bellevue), Clarkson College (Omaha), College of St. Mary (Omaha), Concordia University (Seward), Creighton University (Omaha), Dana College (Blair), Doane College (Crete), Grace University (Omaha), Hastings College (Hastings), Midland Lutheran College (Fremont), Nebraska Methodist College (Omaha), Nebraska Wesleyan University (Lincoln), Union College (Lincoln), and York College (York).
