Posted on January 28, 2015 at 2:43 PM, updated January 28, 2015 at 2:43 PM Print
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 Cleveland State University provide a significant boost to the Northeast Ohio economy, accounting for 6,739 jobs and $679 million in economic impact, according to CSU 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 Cleveland State University, 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 CSU during the 2013-2014 academic year.
“Since 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,” said CSU President Ronald M. Berkman.
CSU'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 CSU to the 5-county study region.
“The study illustrates that CSU 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’s degree,” said Clouse.
Currently less than 30 percent of revenue generated by CSU comes from state appropriations, while tuition at CSU ranks among the lowest among Ohio's public universities. From the $65 million CSU received in 2013 in state funding, the University generated $308 million in household income for Northeast Ohio, a fivefold return.
“One of the benefits CSU 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’s image,” said Austrian.
Impact of University Operations
- Employment Impact; jobs created because of CSU 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 CSU’s 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