| Dollars and Sense: The economic impact of higher education in Maryland |
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Maryland Life January 17, 2012
Maryland may be relatively small, but when it comes to the economic impact of—and revenue generated by—higher education, the Free State is a powerhouse.
From the salaries earned by college and university employees to the taxes paid by those employees; from the revenue generated when Mom and Dad visit and take their hungry students out for pizza to the money those students themselves spend at off-campus bookstores, coffee shops, and theaters, the commerce of education is a serious contributor to Maryland’s bottom line.
In addition to the state’s colleges and universities, its 175 private career schools, such as cosmetology or truck-driving schools, also play a noteworthy role in the economy. And while there’s no single hard-and-fast figure that pulls all the numbers together, it’s generally agreed that the financial contributions of education are substantial.
... “Maryland is a small state, but when it comes to education, we are a big industry,” says Tina Bjarekull, president of the Maryland Independent College and University Association. “Higher education supports some 63,780 jobs, including 34,000 direct employees, plus an additional 9,230 students.
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