Eduventures Study Identifies Growth Opportunities Driven by Federal Economic Stimulus Package for Continuing and Professional Education Providers

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While the expected direct impact of the federal economic stimulus package (ARRA) is well documented what is less obvious to many colleges and universities is how investments in specific industries driven by the ARRA will seed these fields for future growth, resulting in significant opportunities for continuing and professional education providers. In particular, four specific fields (energy and green initiatives; infrastructure; education; and healthcare and health information technology) should be examined for new program ideas or expansion opportunities.

Eduventures, Inc., the leader in higher education research and consulting, recently released the results of a research initiative examining the American Recovery and Reinvestment Act, 2009 (ARRA) to identify its impact on the field of university-delivered continuing and professional education. With total spending estimated by the Congressional Budget Office at $787.2 billion, the ARRA is estimated to contain approximately $100 billion in investment for education through initiatives such as student financial aid and workforce training. While the expected direct impact of this spending is well documented what is less obvious to many colleges and universities is how investments in specific industries driven by the ARRA will seed these fields for future growth, resulting in significant opportunities for continuing and professional education providers.

The study details four specific fields impacted by the ARRA that colleges and universities should be examining to look for new program ideas or expansion opportunities:

  • Energy and Green Initiatives - these initiatives will feature spending in areas including infrastructure, and energy grid and electrical transmission and are expected to drive training needs in areas such as renewable power generation and residential and commercial retrofitting
  • Infrastructure - funds supporting infrastructure initiatives will be used across multiple areas including highways, public transit, and broadband transmission and are expected to drive training needs in areas such as architecture and civil engineering
  • Education - funds allocated for education are expected to drive training needs in areas such as special education, vocation education, and instructional technology
  • Healthcare and Health Information Technology - funds allocated for healthcare and healthcare information technology will support initiatives to promote the development of electronic health records as well as community health initiatives and are expected to drive training needs in diverse areas such as software and records management, nursing and mental health

Said Eduventures Program Director & Senior Analyst Sean Gallagher, "Although many in higher education have been focused on new direct investments and student aid funding that are part of the Stimulus Package, the real opportunity for providers of career-related education is to develop programs that align with government investments. Given the 12-18 month development time for new degree certificates and degree programs, the colleges that will benefit from enrollment growth in these fields need to be working on developing these new programs today."

About Eduventures, Inc.:
Eduventures has been committed to improving higher education since its founding in 1993. The industry leader in higher education research and consulting, we currently partner with more than 300 colleges and universities nationwide. Our research membership programs and consulting services help higher education leaders achieve organizational goals and solve pressing challenges with evidence-based insights and guidance. Visit http://www.eduventures.com for more information.

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Craig Urch
Eduventures
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