According to results of an EMSI higher ed impact study released this week, Kent State University provides a substantial economic boost to Northeast Ohio.
Located in Kent — just outside of Akron and less than 40 miles south of Cleveland — Kent State and its alumni contribute approximately 1.5% of the total Northeast Ohio economy, the EMSI study found. That equates to $1.9 billion in increased average income per year.
The study also encompassed the research, entrepreneurial programs, and technology transfer of Kent State’s diverse eight-campus system.
The $1.9 billion figure represents the impact of KSU’s eight campuses in 12 counties, approximately 5,000 employees, nearly 40,000 total enrolled students and 196,000 alumni. KSU is Northeastern Ohio’s 15th largest employer as the state’s third-largest public university, according to the study.
The study also showed the region receives roughly $292 million in added income annually due to the payroll of KSU faculty and staff and other university spending.
Lefton said Northeastern Ohio can continue to count on KSU as a steady employer.
“We are a leading business enterprise in Northeast Ohio,” he said. “The data shows we are not just a major player, we are the leading research institute in Northeast Ohio.”
Update: Also, the Akron Beacon-Journal published this opinion piece regarding the study. The paper argues that Kent State, which released the study in its 100th year of existence, “produced a timely reminder of the right course to follow to get the state out of a deep recession and onto firm economic ground.”
For more on EMSI’s higher ed impact studies, click here.