Madison, WI — Wisconsin’s private, nonprofit colleges and universities serve as powerful economic engines, supporting tens of thousands of jobs, attracting and retaining talent, and contributing significantly to state and local tax bases, according to a new economic impact study commissioned by the Wisconsin Association of Independent Colleges and Universities (WAICU).
Collectively, the twenty WAICU member institutions generated $5.4 billion in economic activity during the 2024–2025 academic year.
The study shows that Wisconsin’s private colleges are driving robust economic growth, preparing talent for in-demand careers, and enriching communities statewide.
Our colleges produced $2.71 billion in direct spending and an additional $2.72 billion in indirect and induced impacts. Over five years, capital expenditures generated $576 million in economic activity, supporting 1,244 additional jobs.
“Wisconsin’s private colleges are educating future leaders and are driving economic vitality while strengthening communities across the state,” said WAICU President and CEO Eric W. Fulcomer. “This report underscores the essential role our institutions play in Wisconsin’s prosperity and the long-term health of our workforce.”
The study reveals that Wisconsin’s private colleges operate much like large-scale enterprises, purchasing goods and services, attracting visitors, paying employees, and stimulating regional economies. When combined, WAICU member institutions rank among Wisconsin’s top ten employers.
Wisconsin’s private colleges directly employ more than 18,600 faculty and staff across the state. In total, they generate and support 39,242 jobs statewide. Their operations contribute $788 million in federal, state, and local tax revenue.
“The return on investment of our institutions multiplies for generations. Every graduate we prepare strengthens Wisconsin’s economy for decades to come,” Fulcomer said.
Across 400 academic disciplines, including health sciences, education, engineering, business, and emerging technology fields, private colleges prepare students for the high-demand jobs that fuel the state’s competitiveness.
“Employers consistently tell us they need more talent, including more nurses, health professionals, teachers, engineers, and data analysts. Our institutions are answering that call every day,” Fulcomer noted. “Our graduates don’t just get jobs. Many stay in Wisconsin, raise families here, and contribute to thriving communities.”
With 236,000 alumni living and working in Wisconsin, private college graduates generate $41 billion in economic activity annually, bolstering sectors ranging from healthcare and manufacturing to technology and public service.
The impact of private colleges extends beyond economic metrics. Students, faculty, and staff contribute 440,000 volunteer hours annually, valued at nearly $15 million, along with more than
$3 million of in-kind contributions.
“Service is at the heart of what our colleges do, whether tutoring youth, supporting nonprofits, conducting community-based research, or providing clinical care,” Fulcomer said. “The civic contributions of our campuses, large and small, make Wisconsin stronger and more connected.”
WAICU encourages policymakers, business leaders, and the public to explore the study further.
About WAICU
The Wisconsin Association of Independent Colleges and Universities (WAICU) is the official organization of the state’s private, nonprofit colleges and universities. WAICU’s mission is to collaborate, advocate, and deliver services that help member institutions advance access, affordability, and educational opportunity for all students.
