96-02-14 Economic Impact of Univ. on State

REPORT OUTLINES MULTIPLE ECONOMIC BENEFITS OF OHIO STATE

	COLUMBUS -- Economic development is only a sideline at The 
Ohio State University, but it's a very significant one, President 
E. Gordon Gee told reporters Wednesday (2/14) at a news 
conference to release a report on the university's economic 
impact.

	The most striking fact in the report, Gee said, was that it 
shows that Ohio State's benefits to the businesses and citizens 
of Ohio have increased, even as state funding of the university 
has decreased.  This is due to aggressive efforts on the part of 
Ohio State to tighten its focus, reallocate its resources and 
restructure its departments and programs, he said.

	The report shows in some detail how Ohio State makes major 
contributions to the economic health of the state.  Gee noted 
four highlights:

  In fiscal year 1994 Ohio State operated a $1.51 billion 
  enterprise with state funds of only $389 million.
 
  Ohio State, its employees, students and visitors generated 
  economic activity almost nine times the state's investment.
 
  Ohio State directly employed 18,339 Ohioans in all 88 
  counties.  Indirectly, another 22,600 jobs for Ohioans were 
  created by Ohio State's spending.
 
  About 175,600 Ohio State graduates live and work in Ohio, 
  providing more college-educated workers than any other 
  institution and helping keep the private sector competitive 
  and healthy.

	"While Ohio State's primary mission is and always will be 
to teach, conduct research and provide service to the people of 
Ohio, this report outlines some of the economic benefits which 
accrue to the state because of the existence of The Ohio State 
University," Gee said.

	"These economic benefits take place within the context of 
an institution that promotes knowledge, understanding, diversity, 
tolerance, culture, pride, excitement and excellence in virtually 
every field of human endeavor.  Ohio State is, in short, an 
outstanding value-added economic enterprise."

	The report, an update of a similar report released in 1992, 
was prepared by faculty and students of the university's School 
of Public Policy and Management, with contributions from other 
university administrators.  L. Lee Walker, director of public 
management programs in the school, directed the project.  Most of 
the data analyzed were from the 1993-94 fiscal year, though tax 
data were from calendar year 1994 and student spending data were 
from academic year 1993-94.

	Among the other highlights of the 28-page report were:

  92 percent of the university's operating budget, or $1.26 
  billion, was spent in Ohio.
 
  Ohio State students spent an estimated $286 million on 
  housing, food, travel and other living expenses.
 
  More than 3 million visitors to the Columbus campus each year 
  contribute an estimated $77.8 million to the local economy.
 
  Ohio State employees paid an estimated $32.7 million to the 
  state in income, sales and other taxes.
 
  Ohio State faculty were awarded over $174 million in federal 
  grants and contracts, money that was spent mostly in Ohio.
 
  The university spent $68 million in support of public service 
  initiatives.
 
  Ohio State provides good value for Ohio residents with a 
  combination of very high academic reputation and low in-state 
  tuition and fees.

	Also noted were the contributions the university makes to 
medical care and research, agricultural development, technology 
transfer with industry, and cultural vitality.

	"We are proud of Ohio State's record," Gee said.  "And we 
are committed to working even harder with and for the people of 
Ohio to ensure that all citizens benefit from the university's 
many activities.  Ohio State is a good investment for Ohioans.  
Know that we appreciate your support and value your confidence."

                             #

Contact: Lee Walker, (614) 292-7731.

NOTE: A limited number of copies of the full report are available 
from the Office of University Communications.  Call the office at
292-2711 to request a copy.


[Submitted by: Von Reid-Vargas (ereid@magnus.acs.ohio-state.edu)
               
Wed, 14 Feb 1996 14:25:10 -0500]
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