News
OU Economic Impact Report Released
By: Bethany Venable | Ohio University Communications & Marketing
Posted on:
The full economic impact study assessing Ohio University’s total economic output for 2012 at approximately $1.5 billion is now available in an easy-to-read format through a newly created website.
Organized into 11 chapters, the document titled “Ohio University Economic Impact Assessment: Educating Students, Impacting Communities” focuses on the influence OHIO exerts on the local, regional and statewide economy through its six campuses and two regional centers. The figures in the report are primarily based on data collected during the 2011-2012 academic year.
The 163-page report was compiled by the executive vice president and provost and vice president for Finance and Administration with assistance from Thomas Miller and Associates, Inc., and was designed by University Communications and Marketing. Ohio University President Roderick J. McDavis’ remarks in the document’s introductory letter underscore OHIO’s long-standing influence within the region and the state.
“The concept of Ohio University as a driving economic force is a commitment we embrace. Since our founding in 1804, Ohio University has played a pivotal role in the development of Southeast Ohio and our service to the region and state continues,” McDavis said.
Regionally, the University’s economic impact within Southeast Ohio accounts for up to $1.2 billion in 2012. On a local level, more than 50 percent of Athens County’s economic output is tied to Ohio University and University-related spending.
The information in the full report also depicts the importance OHIO’s five regional campuses and two regional centers have in their respective counties. The economic impact of each of the regional campuses (in Chillicothe, St. Clairsville, Lancaster, Ironton and Zanesville) ranges between $10 million and $36 million in their respective regions.
Other notable figures listed in the report include:
- -More than 14,300 full-time and part-time jobs supported from University and University-related spending (including over 4,600 faculty and staff at OHIO).
- -The median hourly wage paid to Ohio University employees is more than 55 percent higher than the median hourly earnings for all workers in the State of Ohio
- -More than $259 million in state and local tax revenue generated each year is associated with Ohio University alumni
- -11.4 percent of the employed labor force in Athens County is employed by Ohio University.
- -OHIO students engaged in over 1.4 million hours through internships, practicums, capstones, field experience, and student teaching during the 2011–2012 school year for a value of more than $25.8 million to the local, regional and national community.
In addition to boasting impressive figures, the document also spotlights areas in which OHIO significantly contributes to the state and region such as:
- -Talent and Workforce Development
- -Research and Scholarship
- -Innovation and Entrepreneurship
- -Healthcare and Wellness
- -Environment, Infrastructure, and Sustainability
- -Quality of Place and Community Development
- -Regional Campuses and Centers
- -Ohio University Athletics
In each of these areas, the report supplies evidence that Ohio University’s impact on the state, region and city goes beyond dollar amounts. Stories and perspectives from participants in programs such as Kids on Campus, in experiential learning opportunities such as the Russ College and Engineering, and in high school education programs like Upward Bound, all serve as a reminder that Ohio University’s impact can be measured in the growth and development of students and staff, as well as in the lives of community members.
McDavis will conduct a state-wide tour later in the month to promote and discuss the findings of the economic impact assessment. Dates and locations will be released as details of the tour are finalized, and will be published in Compass. Additional articles in Compass will spotlight the stories that share the OHIO impact in counties and communities around the state through the report’s findings.
To access the full Economic Impact Assessment, visit www.ohio.edu/impact. A full PDF version is also available for download through the webpage.
Article posted with permission from Ohio University Communications and Marketing.