Put another way: State College has a permanent population of 40,000. Penn State at State College employs 27,000 people (already over half of the population). And during the school year there are 46,000 undergraduates in the main campus. So over 100% of the permanent population are associated with the school during the school year.

In contrast: Lancaster City has ~60,000 population, F&M employs ~1100 [0] and F&M has 2400 students. That accounts for 5% of the population during the school year and <2% of the population permanently.

[0] https://www.linkedin.com/school/franklin-&-marshall-college/