COLUMBUS -- The Ohio State University plays a remarkable role in the economic health and well being of Ohio, according to a newly released report by the Inter-University Council of Ohio. The report shows that Ohio State pays economic dividends to Ohio far beyond the state’s investment.
During fiscal year 1999, state subsidies and appropriations accounted for 22 percent of the $1.8 billion in university resources, so that for each $1 the state invested, Ohio State generated an additional $3.55 of its current funds revenue from other sources.
Ohio State captured more than $325 million in public- and private-sector research grants and contracts during 1999, much of which came from out of state. With these dollars, the university generated new economic opportunities for Ohio by creating new ideas, innovative technologies and products.
Some highlights for fiscal year 1999 include:
- The state’s instructional subsidy supports one-half of Ohio State’s day-to-day instruction costs such as salaries, utilities, libraries and student support services.
- The university received $165.4 million in federal support in fiscal year 1999, (down from 1994 level of 174 million), or 9% of its current funds revenues. The primary means of attracting these federal dollars is Ohio State’s extensive research capabilities.
- 100 inventions were disclosed by OSU’s Office of Research in 1999, yielding $1.6 million in royalty income. Increasingly, these discoveries are being used to spur the growth of technology-based businesses in Ohio.
- In fiscal year 1999, Ohio State operated a $1.8 billion dollar enterprise with state funds of only $472 million.
- Ohio State directly employed 18,636 Ohioans in all 88 Ohio counties.
- More than 3.4 million OSU visitors spent an estimated $129 million in the local economy in 1999, not including expenditures made to the university.
- Salaries, wages and benefits accounted for 54.1%, or $932 million of the university’s spending.
- Ohio State employees paid $24.7 million in state income taxes. Employees also paid $16.2 million in local taxes and $102 million in federal income taxes and Medicare contributions.
- Ohio State purchased $309 million worth of goods and services from 21,537 Ohio vendors.
- Ohio is home to 192,335 Ohio State alumni. Nationwide, a college graduate earns about $22,672 more per year than a high school graduate or approximately $905,080 more over a lifetime (source: U.S. Census Bureau). Given this increased earning power, Ohio State graduates living in Ohio each year add millions to Ohio’s economy
- Students spent an estimated $392 million for housing, food, transportation, books, clothing and other living expenses.
- Every dollar spent by Ohio State’s 7,980 out-of-state students – for tuition and fees, clothing, housing, food, transportation and entertainment – represents an expansion of Ohio’s economy. Assuming conservatively that each student spent $20,340 during fiscal year 1999, the total import of out-of-state student spending to Ohio was $162 million.
- The Ohio State University Medical Center delivers advanced health care and trains health care professionals, most of who stay within the state of Ohio
- The Ohio Agricultural Research and Development Center generates new agricultural knowledge that is shared with the general public and the agribusiness community, yielding significant economic benefits to Ohio.
- Through a variety of volunteer and outreach programs, Ohio State students, faculty and staff touch the lives of thousands. Examples include Campus Partners, Ohio State’s urban revitalization program; the Campus Collaborative, which brings 40 university units and several community organizations together to address urban issues in the university area neighborhoods; OSU CARES, (Community Access to Resources and Educational Services), where colleges throughout the university collaborate with OSU Extension and citizens across the state on future issues that will face Ohioans; and the Roads Scholars Tours, which gives faculty a firsthand look at how the university is forging partnerships with business, industry and the community.
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