Higher Education Boosts Vermont Economy
Monday, August 25, 2008 at 10:30PM
The Higher Education sector accounts for a large percentage of Vermont's economy. Colleges and universities are doing well relative to the economy as a whole. So it's no surprise that higher education is bolstering Vermont's economic health even as the business economy struggles nationally.
According to the Association of Vermont Independent Colleges (AVIC), www.vermont-icolleges.org, higher education is the 4th largest economic sector in Vermont. AVIC estimates that its 17 member colleges generate $400 million annually for the Vermont economy, http://www.vermont-icolleges.org/stories/storyReader$9. This estimate does not include the substantial economic contribution of the University of Vermont and the Vermont State College system, which are not independent colleges and so are not AVIC member colleges. And AVIC estimates that spending by students and their families and friends contributes an additional $70 mllion to the Vermont economy each year, http://www.vermont-icolleges.org/stories/storyReader$9. With about 3,500 employees, the University of Vermont is one of the largest employers the state. Considering all of the colleges and universities in Vermont, the higher education sector is a dominating force in the state's economy and workforce.
Our firm's law practice reflects the importance of higher education in Vermont and nationally. A large percentage of our work in areas such as employment matters, transactions, real estate, immigration and nonprofit tax exempt planning is devoted to college and university clients in Vermont and elsewhere in the region and the nation.
So any discussion of the vibrancy of Vermont's economy must consider the role of higher education. In this blog I have focused on the entrepreneurial economy as a primary driver of economic success, particularly in the green economy that we are trying to develop in Vermont. But the so-called Green Valley economic effort in Vermont is tied directly to our colleges and universities. Vermont Law School long has been a leader in environmental law. The University of Vermont is a leader in environmental education and science. This month the Sierra Club named Middlebury College and the University of Vermont as the #1 and #3 "green" colleges, respectively, http://www.sierraclub.org/sierra/200809/coolschools/ten/. Alumni of Vermont colleges and universities are responsible for a great portion of the entrepreneurial economy and the green sector of Vermont's economy.
Higher education may be a nonprofit sector but the State of Vermont profits greatly from it.
Reader Comments (2)
Online Education
If you or someone you know is looking for online education have do a thorough search. Don’t settle for the first set of cyber flooding institutions. Look at local colleges with online programs, they might not only provide you online flexibility but also other supporting services available on evenings and weekends. If you are looking at distant institutions, make sure they have experience in fully supporting students remotely. Go online and on message boards and see what people say about those institutions. Don’t believe the first person you chat with but if you keep chatting and the information is not positive, more on…………
Online Bachelors Degree
To the adult educator all this means a need for more efficient and effective courseware. We need to put our creative thinking hat on and challenge ourselves and our employer to pilot new approaches. This is not an impossible task, it is a new reality. Greater productivity brought by education and innovation are the only weapon against off shoring. Yet this weapon is a hidden “diamond in the rough”, in George French’s words, as it might bring great new opportunities………….
higher education