Study: Universities’ value exceeds cost

Ohio’s public universities added billions to the state’s economy in 2016-17, according to an economic impact study released Tuesday.

The study indicates that Ohio’s public universities’ research, clinical, construction and entrepreneurial activities, as well as students and visitors, added $42 billion to the state economy that year, representing about 6.7 percent of Ohio’s gross state product.

Public higher education also supported nearly 560,000 jobs in the 2016-17 academic year, or one of every 12 jobs in Ohio, according to the study conducted for the Inter-University Council of Ohio and Forward Ohio, a new collaborative campaign among the state’s 14 public universities to raise awareness about the value of public higher education.

The study drew from several sources, including the academic and financial reports of Ohio’s public universities in 2016-17 and national industry and employment data.