May 23, 2023
The Oregon Alliance of Independent Colleges & Universities’ (The Alliance) members generated an annual economic impact to the state of Oregon of $3.5 billion during Fiscal Year 2020-21, according to a new report by Lightcast. Additionally, students’ average annual rate of return is 12.5%.
The Alliance’s twelve member colleges and universities are committed to providing high-quality education to their students, but the impact extends far beyond the classroom and the benefit to individual students. “In Oregon, we know instinctively that our private, nonprofit colleges and universities are crucial for our economy, with these institutions helping to define what it means to learn, work, and live in the state,” said Brent Wilder, President of The Alliance. “This analysis of the economic impact and return on investment of education of The Alliance member institutions provides meaningful data that quantifies just how crucial private, nonprofit education is to Oregon’s economic success. Across this state, our member institutions are the economic engines for their communities and their regions. Collectively, they are one of the most important anchors of our robust and vibrant knowledge-based economy.”
In FY 2020-21, Oregon invested $1.1 billion to support The Alliance member institutions. In turn, the Oregon economy will grow by $7.3 billion over the course of students’ working lives. Further report highlights include:
In addition, the investment analysis revealed that for every $1 students gain $3.50 in lifetime earnings and society gains $6.90 in added income and social savings.
“The Alliance’s members are vital contributors to Oregon’s economy, with a larger impact than the entirety of Oregon’s utilities industry,” said President Miles K. Davis of Linfield University and chair of The Alliance. “Private, nonprofit colleges and universities play a crucial role in the education landscape by offering diverse academic programs, smaller class sizes, and specialized resources that contribute to a well-rounded learning experience. Their economic impact matters as it fuels job creation, generates revenue, and fosters innovation, benefiting not only students but also making a significant contribution to the state’s economy. This report underscores the remarkable return on investment Oregon receives from The Alliance member colleges and universities.”
This economic value study was conducted by Lightcast, the global leader in labor market analytics. The Alliance member institutions included in the study are as follows: Bushnell University, Corban University, George Fox University, Lewis & Clark College, Linfield University, Multnomah University, Pacific University, Reed College, University of Portland, Warner Pacific University, Western Seminary, and Willamette University.
To view the full results of The Alliance’s economic value report, please visit oaicu.org/impact or contact Alliance President Brent Wilder at 503.342.0004 or brent@oaicu.org with questions.
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