HIGHER EDUCATION HELPS DRIVE THE ECONOMY

U.S. colleges and universities have a profound effect on the economy by educating individuals for jobs and as a significant employer in its own right.  The importance of the latter in New England is documented in a recent research report by the New England Association of Schools and Colleges, the regional accrediting organization for public and private elementary, secondary and post-secondary institutions.  The report which can be found on the web at:

http://www.neasc.org/downloads/PDFs/Reseach_PDFs/ECONOMIC_IMPACT_FINAL_GRAPHS_FEBRUARY_8TH_2010.pdf

lists the economic impact of higher education institutions in New England as $118 Billion.  Although Massachusetts, a world-wide leader in higher education, contributes the majority of that amount - $81 Billion, the other New England states all have impact in the Billions of dollars.

There are many eye-popping statistics in the report that demonstrate the importance of higher education to the region’s economy.  To site one example, according to the report,

“There were more individuals employed at Massachusetts’ accredited higher education institutions in FY07 than there were lawyers, dentists, computer programmers, architects, social workers, photographers, psychiatrists, surgeons, pharmacists, police officers, real estate agents, and construction laborers in the state, combined.”

In this time of economic turmoil, higher education as an industry should be recognized and supported.