Spring Break
Group of colleges releases study on financial impact
Report says Baltimore colleges contribute $17.2 billion to economy
Issue date: 2/28/08
"The 2003 report we have is part of the answer, but whenever you do these kinds of reports you have to get additional updated information," Reiner said.
Reiner described the Baltimore Collegetown Network as the "economic engine for the Baltimore metro area. This report shows on a fundamental level how important this consortium of colleges and universities are as an industry." ?
"We didn't know what to expect. To find out it was $17 billion, it was beyond our wildest dreams," said Theresa Bedoya, vice president of admission and financial aid at the Maryland Institute College of Arts. Bedoya also served as a member of the executive committee of Collegetown governing board.
"How do we connect the information about the billions of dollars raised by the universities to the babies that will be born? We can show them that they have an opportunity," Dixon said.
Campbell said the network was prepared to make the steps to capitalize on Baltimore's potential as a college town, but that help would be needed. "Colleges can't make this happen on their own," she said. "The network could become a strong partner in regional development plans."
Reiner said he hoped the report would "show that Baltimore City can be and is a desirable destination."
Smith noted the potential of success in Maryland, one of the wealthiest states in the country, with one of the same highest rates of education. "I don't think it's a coincidence that the most educated state is also the wealthiest," he said.
BCN executives have not yet established how they plan to capitalize on the information reported in the study.
"Our next job is to come up with the concrete," BCN Governing Board President Peter Toran said.
"Links between the academic sector, the public sector and the private sector result in a powerful regional economy. We need to create additional infrastructure, support partnerships between academic and private institutions," Campbell said.
Reiner described the Baltimore Collegetown Network as the "economic engine for the Baltimore metro area. This report shows on a fundamental level how important this consortium of colleges and universities are as an industry." ?
"We didn't know what to expect. To find out it was $17 billion, it was beyond our wildest dreams," said Theresa Bedoya, vice president of admission and financial aid at the Maryland Institute College of Arts. Bedoya also served as a member of the executive committee of Collegetown governing board.
"How do we connect the information about the billions of dollars raised by the universities to the babies that will be born? We can show them that they have an opportunity," Dixon said.
Campbell said the network was prepared to make the steps to capitalize on Baltimore's potential as a college town, but that help would be needed. "Colleges can't make this happen on their own," she said. "The network could become a strong partner in regional development plans."
Reiner said he hoped the report would "show that Baltimore City can be and is a desirable destination."
Smith noted the potential of success in Maryland, one of the wealthiest states in the country, with one of the same highest rates of education. "I don't think it's a coincidence that the most educated state is also the wealthiest," he said.
BCN executives have not yet established how they plan to capitalize on the information reported in the study.
"Our next job is to come up with the concrete," BCN Governing Board President Peter Toran said.
"Links between the academic sector, the public sector and the private sector result in a powerful regional economy. We need to create additional infrastructure, support partnerships between academic and private institutions," Campbell said.
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