Economic Impact

Did you know?

Saint Joseph's College:

generates over $56 million in sales to Maine businesses;

creates directly and indirectly almost 700 full time jobs for Maine people;

provides over $26 million in personal income; and

helps produce $3.5 million in tax revenues for Maine state and local governments.

Read the Economic Impact Study

Full Report

Executive Summary

What Does Economic and Fiscal Impact Mean?

The Size and Range of Saint Joseph's Economic and Fiscal Impact

The Economic Benefits of Higher Education

Appendices

Saint Joseph's College - a substantial economic enterprise.

  • Assets of approximately $65 million.
  • Annual operating budget of approximately $27 million. 
  • Employs 608 people (full and part time) whose salaries and benefits total nearly $16 million. 
  • Full-time equivalent employment of 322 in Maine. 
  • Invested over $30 million in new buildings and nearly $5 million in new vehicles and new academic and athletic equipment.
Counting its annual budget of $27 million as sales, the college is among the larger businesses in the Greater Portland economy.

Saint Joseph's College - an attraction.

  • Attracts students from all over Maine and many from outside Maine.
  • Nearly 1,100 full-time equivalent students on its campus in Standish, Maine.
  • Approximately 3,600 students worldwide in 2007 participating in distance education through Graduate & Professional Studies Division. 
  • Some students rent apartments and homes in the lakes region. 
  • Students and their visitors spend money in the local economy, adding approximately $1.8 million to the purely business impact of the college.
Together, the payroll, operational, investment and student/visitor spending add up to a direct economic impact on the State of Maine in 2007 of approximately $31 million. The total impact of Saint Joseph's College (direct plus indirect) on the State of Maine amounts to over $56 million in sales to Maine businesses.

Saint Joseph's College - creator of human capital.

  • In total, 2,114 of Saint Joseph's 11,103 graduates currently reside in Maine providing the state with the employment, income, home ownership and civic engagement qualities associated with college graduates.
  • Of the graduates living in Maine, 443, approximately 20%, currently reside in the Greater Portland area-219 in the Lakes Region and 224 in other areas of York and Cumberland counties.
  • 1,671 graduates live in other areas of Maine pursuing their careers, building their families and contributing to their communities.

These contributions while virtually impossible to measure and add to an impact statement, nevertheless represent the fundamental benefit deriving from a Saint Joseph's College degree.