FRBB: New Boston Fed Research: College Towns and COVID-19: The Impact on New England
By Riley Sullivan
This brief explores the consequences of the abrupt closing of New England college and university campuses due to the spread of COVID-19. Extended campus closure may threaten the financial health of some New England schools and the communities that rely on them. In towns found to be most reliant on higher education, 45 percent of wages and 38 percent of jobs come directly from colleges and universities. This brief examines the number of cities and towns that are highly dependent on employment and commerce from institutions whose declining enrollments and low endowments make them particularly vulnerable during this period.
For more information, view the full brief on bostonfed.org
Courtesy of Federal Reserve Bank of Boston