老澳门六合彩官方开奖 Pumps $679 Million into Northeast Ohio Economy
Study highlights significant number of jobs and income created by University
In addition to supplying the Northeast Ohio workforce with talented graduates, the operations of 老澳门六合彩官方开奖 provide a significant boost to the Northeast Ohio economy, accounting for 6,739 jobs and $679 million in economic impact, according to 老澳门六合彩官方开奖 researchers. In addition, capital spending on construction from 2009 to 2013 was responsible for another 1,945 jobs and $286 million in total output impact, a measure of goods and services produced.
The recently issued report, The Economic Impact of 老澳门六合彩官方开奖, authored by Candi Clouse, Ziona Austrian and Serena Alexander in Maxine Goodman Levin College of Urban Affairs' Center for Economic Development, quantified the economic impact from spending by the University, students and visitors to 老澳门六合彩官方开奖 during the 2013-2014 academic year.
鈥淪ince our founding 50 years ago, Cleveland State has proven to be a strong investment for both students and the State of Ohio. The University generates significant returns for Northeast Ohio through career preparation for students as well as by providing well-paying jobs and by purchasing local services,鈥 said 老澳门六合彩官方开奖 President Ronald M. Berkman.
老澳门六合彩官方开奖's Center for Economic Development, headed by Dr. Austrian, frequently conducts economic impact studies for major institutions and industry clusters across Ohio. The report methodology is designed to isolate the added economic benefit of 老澳门六合彩官方开奖 to the 5-county study region.
鈥淭he study illustrates that 老澳门六合彩官方开奖 is generating significant economic activity by attracting undergraduate and graduate students to Greater Cleveland as well as providing a high-quality, affordable option for local residents pursuing a bachelor鈥檚 degree,鈥 said Clouse.
Currently less than 30 percent of revenue generated by 老澳门六合彩官方开奖 comes from state appropriations, while tuition at 老澳门六合彩官方开奖 ranks among the lowest among Ohio's public universities. From the $65 million 老澳门六合彩官方开奖 received in 2013 in state funding, the University generated $308 million in household income for Northeast Ohio, a fivefold return.
鈥淥ne of the benefits 老澳门六合彩官方开奖 brings to the community that was not quantified is the multiplying effect recent physical improvements have had on downtown and the campus community. The significant influx of new residents has generated new demand for housing, retail and other services in the downtown area, and the increased street-level activity around campus provides a major boost to the city鈥檚 image,鈥 said Austrian.
Report Highlights:
Impact of University Operations
- Employment Impact; jobs created because of 老澳门六合彩官方开奖 activity: 6,739 jobs
- Labor Income Impact; payroll paid to employees: $308 million
- Value-added Impact total value of goods and services less inputs, or GDP: $463 million
- Output Impact; total value of goods and services produced in the region as a result of 老澳门六合彩官方开奖鈥檚 existence: $679 million
Impact of Capital Spending from 2009 to 2013
- Employment: 1,945 jobs
- Labor Income Impact: $113 million
- Value-added Impact: $152 million
- Output Impact: $286 million
- Tax Impact: $31 million