We know college is big business in America and Ohio's institutions generated billions for the state's economy. 💰🤑 Even if it's not your cup of tea (or cheap beer from a frat basement), higher education is the source of many jobs and opportunities. 💼
Here’s Five Fast Facts on how OH schools are making money waves:
- 🥓 Bring Home the Bacon - According to a recent study, Ohio's public universities brought in roughly $69 billion to the state's economy in the last fiscal year.
- 🎒 Campus Crew - The amount makes up 8.8% of Ohio's total gross state product. One in eight Ohio jobs are at the state's 14 public universities.
- 🍻 We Used to Go Here - Alumni contributed the most to the economy. Former students from Ohio's universities were responsible for nearly $53 billion in added income to the state's economy and supported over 648,000 jobs.
- 💲 The Tax that Pays Back - The study also revealed that Ohio's public universities pay more in tax revenue than they receive from the state. Taxpayers receive roughly $4.60 in returns for every tax dollar spent educating students attending the universities.
- 🎓 Degrees of Success - Students with a bachelor’s degree from Ohio's public universities can expect to earn around $62,600 per year within the state. That's about $28,600 more than someone with a high school diploma.
🔥Bottom line: Colleges make a ton of money off tuition, but as this study points out, universities are money printing machines in more ways than one. Spending by students and visitors, revenue generated from alumni startup companies, and clinical research projects all play a part. Wondering what the highest paying college majors are? We've got the list right here.
Are you an OH state university alum?
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