AVIC Brochure

MAKING AN

IMPACT The Econom i c I m pact o f P ri vat e H i gher Educat i on i n Vermont

AV I C A S S O C I AT I O N O F

V E R M O N T INDEPENDENT COLLEGES VERMONT: An Education Destination

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Making an Impact

The total economic impact of private colleges and universities in Vermont is nearly $1.4 billion.

However, we prefer to think of our impact in terms of jobs, neighbors, and community support.

Our presence in communities across the State creates valuable partnerships and business opportunities for Vermonters.

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T H E S TAT E W I D E P I C T U R E Economic Impact by Region

$330 mil $750 mil Estimated Total Economic Impact of Independent Higher Education in VT

Institutional Expenditures . . . . $590,117,845 Construction Expenditures . . . $121,777,830 Student Spending . . . . . . . . . . . . $92,131,276 Faculty and Staff Spending . . . $583,249,258 Visitor Spending . . . . . . . . . . . . . . $8,188,460 TOTAL STATEWIDE IMPACT

$1,395,464,668

$315 mil AVIC

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C R E AT I N G S TA B L E J O B S Total On-Campus Jobs: 6,295 Total Wages & Benefits Paid to Employees: $314,182,966

Jobs: 2,042 Wages: $81.5 mil

Jobs: 5,604 Wages: $220 mil

The spending of the colleges, the colleges’ employees, and the colleges’ students at area businesses creates jobs and payrolls there and elsewhere in the state.

Jobs: 1,594 Wages: $65.8 mil 4

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60% of future jobs will require post-secondary education.

Vermont’s private colleges provide $145.8 million in institutional aid from their own resources.

14,000

More than out-of-state students come to Vermont to study at private colleges.

Many of these students stay and contribute to local economies.

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out of

19 of our colleges offer non-traditional weekend,

evening, and online programs to meet the changing needs of all learners.

In addition to hundreds of degree programs, AVIC members offer over

60 certificate programs.

AT T R A C T I N G A W O R K F O R C E

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LAUNCHING ENTREPRENEURS

The many alums who live and work in Vermont are

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Danforth Pewter

Eden’s Echo Forest Management Co

Burton Snowboards

Landscape Visions, LLC.

Lincoln Peak Vineyards

Pinnacle Pet & Property Care

Red Hen Bakery

Benji and Jake’s Restaurant

L.A.C.E.

Hardt Forestry

Crane Associates

Emma’s Family Farm

Omega Optical

Harvest Hill Farm

The Bluebird Tavern

CommunEquests

Montpelier Flag and Stove Works

Songbird Farm

Leading Challenges

Bond Auto

Gobeille Hospitality Group

Bove’s

Coffee Enterprises

Carved Solutions

Vermont Bread Company

Epik One

Have Justice Will Travel

JaniTech

Blackback Pub and Fly Shop

Editorial Concepts

Holistic Justice Center

Fiddlehead at Four Corners

Better Planet Books

Galahad Productions

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responsible for many Vermont business landmarks.

Gallery-in-the-Field

Wood’s Cider Mill

Jumpcut Productions

Small Dog Electronics

McNeill’s Brewery

Buch Spieler Music

Mechanic Street Pottery & Irons Works

Contemporary Dance & Fitness Studio

Mountain Goat

Catamount Arts

Pangaea Restaurant

Magic Hat Brewing

Quill & Print

Turtle Island Child Center

Rainbow Organic Fiber Mill

Artisans Hand Cooperative

South Street Café

Studio Place Arts

Superior Store Finishing

Winooski Hydroelectric

The Eloquent Page

Global Gifts

Three Meadow Riders

“After graduating from an independent college, I wanted to stay in Vermont and put my skills and ideas to work. Thirty years later, I am proud that my business is considered a vital part of our community.”

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PILLARS OF MAIN STREET $424.7 million is raised in tuition and fees from out-of-state sources for spending in Vermont.

Each year employees of private colleges and universities in Vermont pay over $8

million in state income taxes.

19,000 independent college and university

The nearly

students in Vermont eat, shop and spend almost

$49.6 million annually at local businesses.

Local Businesses in Vermont Benefitting from Spending by Students s General merchandise stores s Grocery and beverage stores s Real estate rentals s Telecommunications and utilities s Amusement and recreation venues s Restaurant and drinking establishments s Furniture and home furnishing stores s Clothing and sports stores

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Our students contribute 894,400 hours of volunteer time worth over $42 million to Vermont communities each year.

An estimated 88% of that time is with K-12 organizations.

STUDENTS GIVE BACK

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MEETING WORKFORCE NEEDS

The independent colleges play a central role in the development of tomorrow’s

labor force

so that Vermont succeeds in an increasingly knowledge-intensive economy.

The 19 private institutions confer 53% in the state. They also award

of all degrees

43% of the certificates for

advancing select skills.

These degrees help prepare students for careers in areas that are critical to the future of Vermont.

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More than 82% of students at Vermont’s independent colleges and universities receive tuition assistance.

55% of our bachelor degree-seeking students graduate within four years compared to 39% at public institutions. This saves parents and students time and money.

INVESTING IN THE FUTURE

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A V I C

M E M B E R S

Bennington College Burlington College Champlain College College of St. Joseph Goddard College Green Mountain College Landmark College Marlboro College Middlebury College New England Culinary Institute Norwich University St. Michael’s College SIT Southern Vermont College Sterling College Vermont College of Fine Arts Vermont Law School Associate Members: Albany College of Pharmacy & Health Sciences Union Institute & University ‌Independent thinking for a collaborative world

association of vermont independent colleges PO Box 254, Montpelier, VT 05601 802.828.8826

www.vermont-icolleges.org