Members of Ohio University's administration shared details of an in-depth economic impact report with the university's board of trustees on Thursday.
Members of Ohio University’s administration shared details of an in-depth economic impact report with the university’s board of trustees on Thursday.
OU Vice President for Finance and Administration Stephen Golding and Executive Vice President and Provost Pam Benoit, along with several other university administrators, shared with the full board highlights from the university’s Economic Impact Report, which explores and quantifies the value and economic impact of all of the university’s campuses on the state of Ohio.
The report shows that the university, as an employer of more than 4,600, is a source of accessible education and workforce development, driving economic growth as a significant revenue generator. It also emphasizes the importance of OU as an institution that supports research, cultivates entrepreneurship, promotes health and wellness, leads in a variety of sustainability initiatives and enriches the quality of life throughout the Southeast Ohio region.
According to Golding, the university’s positive role with initiatives encompassing local, regional and state economies is a priority and will continue to inform decisions on how to invest institutional resources.
Additional highlights from the university’s impact in 2012 include:
•Over $1.5 billion in economic output benefiting the state and its citizens?
•Over $104 million in state and local tax revenue?
•7,928 degrees and certificates awarded, which include 5,465 bachelor’s degrees, representing a 38 percent increase from five years ago?
•Over 1.4 million hours of OU students engaged in internships, practicums, capstones, field experience and student teaching during the 2011-12 academic year for a value of over $25.8 million to the local, regional and national community?
•Over 190,000 OHIO alumni worldwide, including 110,000 alumni living in Ohio?
•Over $30.5 million in external research funding, including $21.2 million from federal sources?
•Over 31,900 Ohio residents served by OU faculty, staff and students through Community Health Programs in 2011-12
The university’s board of trustees met on Thursday on the campus of Columbus State Community College in Columbus.