{"id":10043,"date":"2021-06-07T16:52:11","date_gmt":"2021-06-07T16:52:11","guid":{"rendered":"https:\/\/www.investupmi.com\/?p=10043"},"modified":"2021-06-17T20:01:11","modified_gmt":"2021-06-17T20:01:11","slug":"universityimpact","status":"publish","type":"post","link":"https:\/\/www.investupmi.com\/index.php\/2021\/06\/07\/universityimpact\/","title":{"rendered":"Higher education drives Upper Peninsula\u2019s economic and cultural ecosystem"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-eight-colleges-bring-nearly-1-billion-a-year-to-u-p\">Eight colleges bring nearly $1 billion a year to U.P.<\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2021\/06\/InvestUP-University-Impact-on-UP-Featured-Image-1.png\" alt=\"\" class=\"wp-image-10049\" width=\"826\" height=\"448\" srcset=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2021\/06\/InvestUP-University-Impact-on-UP-Featured-Image-1.png 682w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2021\/06\/InvestUP-University-Impact-on-UP-Featured-Image-1-300x163.png 300w\" sizes=\"(max-width: 826px) 100vw, 826px\" \/><\/figure><\/div>\n\n\n\n<p>UPPER PENINSULA, Mich. (Mon. June 7, 2021) \u2013 Tucked away among the miles of forestland and quaint communities of Michigan\u2019s U.P. are four universities and four community colleges that have become powerful drivers of economic growth, incubators of groundbreaking research, and builders of a skilled workforce.<\/p>\n\n\n\n<p>The region\u2019s higher education institutions collectively employ more than 3,800 faculty and staff and attract more than 20,800 students to the U.P. each year. Their combined impact on the economy is impressive. According to a report from Anderson Economic Group, <strong><a href=\"http:\/\/mtu.edu\">Michigan Technological University&#8217;s<\/a><\/strong> (MTU) economic impact on the state is as high as $450 million. <a href=\"https:\/\/www.gogebic.edu\/\"><strong>Gogebic Community College<\/strong><\/a> (GCC) touts local returns of around $5.30 for every dollar received. In towns like Sault Ste. Marie, where <a href=\"https:\/\/www.lssu.edu\/\"><strong>Lake Superior State University<\/strong><\/a> (LSSU) employs one in 10 county residents, universities are the largest employers.<\/p>\n\n\n\n<p>Beyond the myriad of opportunities for hands-on education for LSSU\u2019s student body, each student brings an estimated $45,000 worth of economic activity to the region for a total economic impact of $113 million per year. Investments and expenditures from <a href=\"http:\/\/www.nmu.edu\"><strong>Northern Michigan University<\/strong><\/a> (NMU) \u2014 in addition to spending from its students and campus visitors \u2014 contribute over $200 million to the U.P. annually.<\/p>\n\n\n\n<p>MTU and NMU, the U.P.\u2019s two largest universities, also have robust research facilities and strong, mutually beneficial partnerships with local employers and industries. For example, commercial lenders like <strong><a href=\"https:\/\/northerninitiatives.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Northern Initiatives<\/a><\/strong>, business incubators like <a href=\"https:\/\/www.innovatemarquette.org\/\"><strong>Innovate Marquette SmartZone<\/strong><\/a><strong> \/ <\/strong><a href=\"https:\/\/invent.nmu.edu\/\"><strong>Invent@NMU<\/strong><\/a>, and entrepreneurial services like <a href=\"https:\/\/www.mtecsz.com\/\"><strong>MTEC Smartzone<\/strong><\/a> offer community members, small business owners, and grads tools for economic success and job creation. LSSU partners with municipalities and government programs, acting as a job funnel that fills high-demand roles in essential programs.<\/p>\n\n\n\n<p>Smaller institutions like <a href=\"https:\/\/www.gogebic.edu\/\"><strong>Gogebic Community College<\/strong><\/a>, <a href=\"https:\/\/www.finlandia.edu\/\"><strong>Finlandia University<\/strong><\/a>, <a href=\"https:\/\/www.baycollege.edu\/\"><strong>Bay De Noc Community College<\/strong><\/a>, <a href=\"https:\/\/www.bmcc.edu\/about-bmcc\"><strong>Bay Mills Community College<\/strong><\/a><strong>,<\/strong> and <a href=\"https:\/\/www.kbocc.edu\/\"><strong>Keweenaw Bay Ojibwe Community College<\/strong><\/a> offer affordable, culturally relevant educational programs. Over 61% of graduates from the U.P.\u2019s smaller institutions stay within the county or neighboring counties after graduation and gain direct employment in the region. With the vast majority staying in the area, college-educated employees add immeasurable economic prosperity to the state decades after graduation and eliminate brain drain from rural U.P. communities. On average, 30-40% of MTU, LSSU, and NMU graduates find gainful careers within 50-miles of campus.<\/p>\n\n\n\n<p>Figures from Bay De Noc highlight the benefits of all the U.P. community colleges. Bay students contribute $9.2 million of taxable income to the Michigan economy. Because of their education, associate degree graduates at Bay will earn $300,000 more throughout their career than someone with a high school diploma. For every dollar of state or local tax money invested in Bay, $2.2 returns to the community.<\/p>\n\n\n\n<p>\u201cUnlike in bigger cities, universities tend to have a significant influence on our communities here in the U.P.,\u201d says Eric Waara, City Manager of Houghton, which is home to MTU. \u201cFor example, Loyola is only a small part of Chicago\u2019s economy. Comparably, our communities are smaller, so universities and colleges drive the economy, ecosystem, culture, and energy in a much more significant way.\u201d<\/p>\n\n\n\n<p>The U.P.\u2019s academic sector creates family-sustaining job opportunities and incentives for people to relocate to the region. New residents purchase homes, contributing to property taxes that increase city revenues. Along with students and visiting families \u2014 especially those who travel from overseas \u2014 they spend money in restaurants, hotels, and retails outlets, keeping local businesses thriving. These institutions also play a significant role in shaping the area\u2019s vibrant culture. With its unique mix of high-tech innovation and apple-pie downtowns, the U.P. is a magnet for intelligent, interesting people who appreciate the beautiful surroundings and active lifestyle.<\/p>\n\n\n\n<p>Bob Mahaney of Marquette has a first-hand perspective on the importance of higher education to the U.P.&nbsp; Mahaney is CEO of Veridea Group, the region\u2019s largest real estate development firm.&nbsp; He also serves on the board of Northern Michigan University and was Board Chair for two years. He served over 10 years on the board of the U.P.\u2019s largest bank and is currently chair of the InvestUP Board.<\/p>\n\n\n\n<p>\u201cBecause of our rural demographics \u2014 a small population and flat economy \u2014 our U.P. universities have a greater and more direct impact on their local communities and the region as a whole than is typically found in the State,\u201d said Mahaney.&nbsp; \u201cThey are the largest employers in their respective communities.&nbsp; They attract thousands of young adults from other states to the U.P. that otherwise would not be here.&nbsp; Their research attracts numerous businesses that otherwise would not be here.&nbsp; In short, if we are to reverse the U.P.\u2019s fundamental problems of a stagnant, aging population base and underperforming economy, we must invest more aggressively and boldly in our three U.P. Universities.&nbsp; The return on investment for the region and the State will be strong and immediate.\u201d<\/p>\n\n\n\n<p>The economic benefits of higher education extend to individuals as well. \u201cEducation, like the kind our students get at Michigan Tech, breaks the cycle of poverty,\u201d notes Dr. John Lehman, Vice President for University Relations and Enrollment at MTU. \u201cThis is the American dream.\u201d<\/p>\n\n\n\n<p>Dr. Lehman explains that about a quarter of MTU\u2019s students come from depressed economic conditions that put them in the bottom 20% of family income earners in the nation. By the time they graduate from college, they have moved up to the 50th percentile \u2014 from poverty to the middle class. By mid-career, they are in the top 20% of income earners.<\/p>\n\n\n\n<p>As employers, business incubators, business partners, and cultural influencers, the Upper Peninsula\u2019s universities make vital contributions to their local economies. From job creation to fueling knowledge and sparking innovation, they increase the living standards for the entire region and its people.<\/p>\n\n\n\n<p class=\"has-text-align-center\"># # #<\/p>\n\n\n\n<p>InvestUP is a private sector-led economic development organization keenly focused on driving economic growth across Michigan\u2019s Upper Peninsula. Founded by the region\u2019s leading private sector businesses and the region\u2019s universities, its mission is to deliver business and job growth across the peninsula. <a href=\"http:\/\/www.investupmi.com\"><strong>www.investupmi.com<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eight colleges bring nearly $1 billion a year to U.P. UPPER PENINSULA, Mich. (Mon. June 7, 2021) \u2013 Tucked away among the miles of forestland and quaint communities of Michigan\u2019s U.P. are four universities and four community colleges that have become powerful drivers of economic growth, incubators of groundbreaking research, and builders of a skilled [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":10045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Higher education drives Upper Peninsula\u2019s economic and cultural ecosystem - InvestUP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investupmi.com\/index.php\/2021\/06\/07\/universityimpact\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Higher education drives Upper Peninsula\u2019s economic and cultural ecosystem - InvestUP\" \/>\n<meta property=\"og:description\" content=\"Eight colleges bring nearly $1 billion a year to U.P. UPPER PENINSULA, Mich. (Mon. 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