How University Towns Benefit Business

How University Towns Benefit Business

As a dedicated business leader, it makes sense that you’d want your operations in a dynamic and innovative locale that’s growing and thriving by the day. In this regard, University towns perfectly fit the bill.

In fact, some experts refer to these regions as “economic powerhouses.” Cities with a University presence could see more than 11 percent employment growth over the next decade, particularly in the STEM fields, as well as health care and creative jobs. That’s according to 2019 research from the McKinsey Global Institute.

Volusia County in Central Florida is home to many nationally-recognized higher education institutions. That includes Embry-Riddle Aeronautical University, Daytona State College, Stetson University, Bethune-Cookman University, Florida Technical College, and more. Read on to learn more about why relocating your business to a college town is a good idea.

Low Cost of Living

In most University locales, cost of living is low due to many resources (including housing) being student-centric. This prompts landlords and business owners to consider the budgets of college-aged youth.

From a business standpoint, a lower cost of living can be a draw for people from all walks of life, not just students. This way, you’ll be able to attract both potential employees and clients/customers to your company.

Large Pool of Qualified Professionals

In fact, many students who graduate opt to remain local and start their careers. This is good news for a business like yours, since you’ll get top-notch talent with current skills who can help your company innovate and compete in today’s highly-competitive world marketplace.

Plus, by nature higher education institutions draw global talent. You’ll also have access to researchers and other companies that are focused on creating a better quality of life for people across the globe.

Draw for Amenities

In addition to new and seasoned professionals, folks from all walks of life choose to visit and live in college towns due in part to the higher caliber of top-notch amenities that these locales often provide. That includes hospitals, research centers, shopping and dining options, and more.

That’s saying nothing about the cultural and educational opportunities that abound in areas with a dynamic University. For many people, the draw of continued learning is a major factor. These are all potential clients and customers of your business.

In-Demand Locale

Mentioned here are just a few of the many perks of relocating your company to a University area. You’ll also have your own specific questions and concerns as you contemplate the best spot for your operations. That’s when it’s wise to partner with a proven leader of economic development.

Team Volusia Economic Development Corporation is a non-profit aimed at helping your company grow and thrive in bustling Volusia County, Florida. Browse our website to learn more about how we can assist in reaching your goal of business expansion and proliferation. Then, contact us today to get started. 

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