WAICU President and CEO Eric W. Fulcomer

Wisconsin’s greatest resource has always been its people. As we navigate a rapidly changing economic landscape, the path to our state’s continued prosperity is being paved daily on the campuses of our private, nonprofit colleges.

Our recently released 2024-2025 economic impact study confirms the reality that business leaders and policymakers have long understood: Wisconsin Association of Independent Colleges and Universities (WAICU) institutions are not merely centers of learning. They are powerful, essential engines of economic growth and community vitality.

The numbers tell a compelling story. In the last year alone, WAICU-member institutions generated a staggering $5.4 billion for the Wisconsin economy. However, viewing this figure simply as a number misses the larger picture. Wisconsin’s Private Colleges do not receive taxpayer funding, but our students do receive financial aid which represents about 2% of all higher education spending from the State of Wisconsin. For every $1 the state invests in our students, $161 is generated back to the economy.

Finding a strategy that is both cost-effective and high yielding is rare. By supporting private higher education, Wisconsin leverages private resources to achieve public good, making it one of the most efficient workforce development strategies available to the state.

Our colleges are more than classrooms. They are the training grounds for the workforce of tomorrow. Every year, WAICU-member institutions graduate 12,300 students, in fields that are critical to our state’s stability and growth, including healthcare, engineering, education, and technology. These graduates not only fill existing jobs; they drive innovation, strengthen our local industries, and ensure that Wisconsin remains competitive on the national stage. By educating and retaining this talent, we ensure that our state remains a destination where businesses want to relocate and families want to put down roots.

The impact of a degree extends far beyond the individual graduate. While it is true that a college degree is a lifelong asset with graduates earning nearly double the income of those with only a high school diploma, this upward mobility creates a ripple effect that lifts entire families and communities. Today, 236,000 WAICU-member alumni live and work right here in Wisconsin. Their presence is felt in every corner of the state, contributing $41 billion in economic activity and generating $7.4 billion in annual tax revenue.

Yet the value of our alumni cannot be measured in dollars alone. They are our community leaders, our entrepreneurs, and our most dedicated volunteers. They shape the civic and cultural life of our state, creating a more resilient and engaged society. This spirit of service begins on campus. Last year, WAICU students, faculty, and staff contributed 440,000 volunteer hours, a service valued at $15 million, alongside $3 million in in-kind contributions. These efforts support our schools, nonprofits, and local initiatives, reinforcing the role of private colleges as true anchors of community vitality.

The data further demonstrates that college graduates are statistically healthier, more financially secure, and less reliant on public assistance. These outcomes significantly reduce the strain on state resources, contributing to a more prosperous Wisconsin for everyone. Graduates are also more likely to vote and engage civically, fostering a culture of leadership and service that spans generations.

Investing in private higher education is not just an educational priority. It is a sophisticated economic development strategy. When we support our independent colleges, we are investing in a future where opportunity is shared. Every student we educate strengthens Wisconsin’s economy and enriches our communities. Together, we are investing in people, which is the most powerful investment of all.

Visit the Economic Impact Tool website for more information.