Private, nonprofit colleges and universities generate billions of dollars in economic activity, strengthen communities and prepare the workforce that powers the nation’s economy, according to a new report commissioned by the National Association of Independent Colleges and Universities.
Prepared by Parker Strategy Group on behalf of NAICU, “The Economic Contribution of Private Nonprofit Colleges and Universities” found that private, nonprofit institutions generated $838.9 billion in annual economic output during fiscal year 2024, supported more than 4.1 million jobs nationwide and contributed $535.1 billion to the nation’s gross domestic product.
The report’s findings reflect the role Marquette plays in Milwaukee and beyond through workforce development, research, healthcare, community engagement and service. Marquette’s own Beyond Campus economic impact report highlights the many ways students, faculty, staff and alumni live out the university’s Catholic, Jesuit mission while creating economic and social impact throughout the region.
Among the report’s key findings:
- Private, nonprofit colleges and universities support more than 4.1 million jobs, or approximately one out of every 39 jobs in the United States.
- The sector graduates more than 1.1 million students annually, generating an estimated $199.4 billion in one-year economic impact through graduates entering the workforce.
- Institutions generate $340.2 billion in labor income for American workers and families.
- The sector produces $122.2 billion in federal, state and local tax revenue each year.
- Nearly 60% of the sector’s economic impact occurs beyond campus through supply chains, employee spending and related economic activity.
The report also highlights the broader contributions colleges and universities make to their communities. Nationally, faculty, staff and students contribute more than 107 million volunteer hours and more than $812 million in charitable giving annually, creating a combined community benefit valued at $4.56 billion.
NAICU is the only national organization solely focused on representing private, nonprofit higher education on public policy issues in Washington, D.C. As one of the six major presidential higher education associations, NAICU’s institutional membership comprises presidents from accredited private, nonprofit colleges and universities.
Marquette’s impact beyond campus
The national findings align with Marquette’s contributions to Milwaukee and communities across the country. As shared in Marquette’s Beyond Campus economic impact report, the university:
- Employs more than 2,600 faculty and staff members.
- Generates more than $15 million annually in visitor spending from campus events and visits.
- Spends more than $100 million annually on supplies and services, primarily with Wisconsin-based companies.
- Invested more than $500 million in local construction projects over the past 10 years.
- Supports nearly $50 million in annual research expenditures focused on challenges including clean water, human health and sustainable energy.
Marquette also contributes to workforce development both in Wisconsin and nationally. More than 1,500 graduates enter the workforce annually, with a majority of undergraduate students remaining in Wisconsin after graduation. The university educates future nurses, dentists, physician assistants, physical therapists, occupational therapists and other professionals who help meet critical workforce needs.
Community engagement remains a hallmark of the Marquette experience. Marquette was named the No. 1 college in the country for community service engagement by The Princeton Review for the second consecutive year.
Learn more about the value of a Marquette education here.
