Economic Impact of St Michael's College

The significant economic impact of Saint Michael’s College on ColchesterandVermontcanbefelt innumerousways.SaintMichael’s and those associated with it pumped $185 million into the state in Fiscal Year 2024. Saint Michael’s produces alumni who earn more thantheircounterpartswhodidnotattendcollege.Thesealumniadopt betterlifestylesandthussavethecommunityonhealthcareexpenses. TheCollegeprovidesjobsoncampusandthroughjobsgeneratedby businesstheCollegecommunityconductslocally. Saint Michael’s College provides a net benefit to the Colchester Town government. Many Saint Michael’s alumni-owned firms generate jobs and revenue inVermont.ThroughCommunityEngagedLearning,clinicalhours,fire and rescue service, and internships, the College touches the lives of tens of thousands of people. Thisreportwascreatedtodemonstratethesebenefitsbyquantifying the impacts on Vermont from July 1, 2023, to June 30, 2024.