WILBERFORCE — Central State University’s economic impact on Greene and Montgomery counties for fiscal year 2016 totaled $143.7 million through operational spending, student spending and capital expenditures.
The university directly supported 655 jobs and indirectly supported another 341 full-and part-time jobs in the two-county region, according to Central State’s Economic and Fiscal Impacts report.
The report, prepared by the University of Cincinnati Economics Center, is part of an economic impact study commissioned by the Southwestern Ohio Council for Higher Education (SOCHE), to gauge the economic impact of colleges and universities in the region. SOCHE’s Economic Impact Study shows that the total impact of all 22 member institutions was $7.3 billion in fiscal year 2016. For every dollar spent, approximately 72 cents in additional economic activity occurred.
Ninety percent of the $60.5 million Central State spent on operations was “new” money brought into the region. Because of Central State’s increased activity in the area, $87.9 million was generated in Greene and Montgomery counties.
“As a driver of the economy, the impact this university has is undeniable,” said Curtis Pettis, vice president for administration and finance and CFO. “Our focus is to continue to seek innovative ways to build business partnerships and to drive economic vitality that benefits the university and local communities.”
Central State is a collaborative partner with the City of Xenia, the YMCA, Clark State Community College, the Xenia Adult Recreation and Services Center and Kettering Health Network to support the Recreation, Education, Activity, Community and Health (REACH) Center in Xenia. The Center will serve Xenia and Greene County residents’ health, work force, recreation, education and wellness needs.
“This study confirms what we have believed and recognized for years about the vital importance of Central State University and its impact upon our region, and upon the City of Xenia,” said Xenia City Manager Brent Merriman. “Not only is CSU’s importance measured in educational attainment for thousands of students who have graduated over the years, but also in hard dollars that directly impact businesses and organizations throughout the City of Xenia. The SOCHE report further exemplifies why partnering with Central State University not only makes good sense educationally, but makes good economic sense as well for the future sustainability of many businesses in and around Xenia.”
With the main campus in Wilberforce and CSU-Dayton in Montgomery County, Central State’s regional presence offers a variety of educational and work-force opportunities. As a regionally accredited 1890 Land-Grant Institution, Central State University is increasing its presence throughout the state of Ohio with increased emphasis on research and extension services.
Story courtesy Central State University.