Study: CSCU sys­tem adds $11.1B to state

Greenwich Time - - FROM THE FRONT PAGE/NEWS - By Brian Zahn

Ac­cord­ing to an eco­nomic im­pact study com­mis­sioned by the Connecticut State Col­leges and Uni­ver­si­ties sys­tem, the sys­tem contributed $11.1 bil­lion to the state’s an­nual in­come in 2016-17.

The Idaho-based eco­nomic mod­el­ing firm Emsi pre­sented its find­ings of the eco­nomic im­pact the CSCU sys­tem has on the state in a pre­sen­ta­tion to stake­hold­ers at Gate­way Com­mu­nity Col­lege in New Haven on Thurs­day.

“Ev­ery­one here to­day knows we de­liver real value to the state of Connecticut, but we also know we have to be re­spon­si­ble stew­ards to those who in­vested in us,” said sys­tem Pres­i­dent Mark Ojakian. “We needed an anal­y­sis to tell the story.”

Ojakian, a for­mer chief of staff to the out­go­ing Gov. Dan­nel Mal­loy, has been pres­i­dent of the sys­tem since 2015. He said he hopes an anal­y­sis will be use­ful to the Gen­eral Assem­bly and Gov.-elect Ned La­mont as they fo­cus on ap­pro­pri­a­tions in the fu­ture.

Han­nah Ruf­fridge, as­sis­tant di­rec­tor of con­sult­ing for higher ed­u­ca­tion with Emsi, said in 2016-17 the state’s gross prod­uct was $273 bil­lion, mak­ing the $11.1 bil­lion contributed to the state nearly 4.1 per­cent of the gross state prod­uct for that year.

She said that, “through the mul­ti­plier ef­fect,” about one in 19 jobs in Connecticut is sup­ported by the four uni­ver­si­ties and 13 col­leges in the CSCU sys­tem, which in­cludes every pub­lic school ex­cept for the Univer­sity of Connecticut.

As far as re­turn on in­vest­ment goes, Ruf­fridge said, stu­dents could ex­pect to re­cieve an av­er­age of $6.60 in life­time earn­ings for every dol­lar in­vested in the CSCU sys­tem; for every tax dol­lar in­vested in the sys­tem, she said, tax­pay­ers earn $3.80 in value back.

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