STUDY

It was conducted by Economic Modeling Specialists International, or Emsi, in Moscow, Idaho.

On average, students at Ohio’s public universities receive increased earnings over their working lives. For every dollar they invest in their education, they receive a return of $4.60, or about 13.7 percent, the study said.

They’re also supporting Ohio’s economy while earning their degrees, the study said. Spending by students during 2016-17 added about $710.7 million to the Ohio economy, about $450 million of which was generated by out-of-state students.

The results of the economic impact study make the case for supporting public higher education, IUC and Forward Ohio leaders said.

“Today, we have an economic impact statement that demonstrates that the way to move Ohio forward is through an investment in higher education and our students,” said IUC president Bruce Johnson, joined by a number of public university presidents at a Statehouse news conference Tuesday to announce the study’s results.

Though Ohio paid $2.1 billion to support universities’ operations in 2016-17, taxpayers benefit from the added tax revenue from students’ higher lifetime earnings, as well as reduced state costs for health care, crime and unemployment. The average annual return on investment for

public higher education spending in Ohio is 8.6 percent, the study said.

Ohio needs all kinds of educational paths to meet the needs of its economy, from trades and apprenticeships to doctoral and professional degrees, said state Sen, Randy Garner, R-Bowling Green, who leads the Senate’s higher education subcommittee. But the numbers in Tuesday’s report can provide lawmakers with a clearer picture about public universities’ role, he said.

“We really need an ‘all of the above’ education-attainment approach in this state if we are going to meet the diverse demands of Ohio’s economy ... but we cannot establish policies in this state based on anecdotal stories and information,” Gardner said. “This study is important because we’re going to look squarely in the eye of the statistics and find out how important higher education is.”

While the Forward Ohio campaign hasn’t stated any measurable goals it hopes to achieve in terms of state support for higher education, Johnson said the numbers warrant lawmakers’ attention and he anticipates conversations with them about better supporting public higher education.

“We think it’s relatively obvious that a state that is $1,581 per student behind the national average in terms of support ought to be doing more for our students,” Johnson said, “but we also don’t expect them to finish that job in one biennium.”