CINCINNATI - Cincinnati State President Dr. Monica Posey will unveil a new report Thursday showing that the college has an annual impact on the Greater Cincinnati economy of $657 million. That is the equivalent of more than 10,000 regional jobs supported by Cincinnati State, the fourth largest college in the region.
The new economic impact report will help kick off Cincinnati State’s 50th Anniversary Year, which is being celebrated Sept. 19 with a picnic, historical artifacts display and other activities.
"Fifty years is relatively young for a college, but we are extremely proud of all that has been accomplished by Cincinnati State during that time," said Posey. "Every day, our alumni have a huge impact on making Greater Cincinnati prosperous, healthy, safe and livable."
On this day 50 years ago, the college, then known as Cincinnati Technical Institute, received its Charter from the Ohio Board of Regents, and its official start with 650 students and a handful of technical degree programs.
Thursday, Cincinnati State Technical and Community College includes four campuses, 130-plus degree and certificate programs, a highly regarded cooperative education program, transfer partnerships with more than 20 universities, and more than 10,000 students per year taking credit and noncredit courses, as well as custom workforce development training.
Cincinnati State's new Economic Impact Report was completed by EMSI, an Idaho-based independent national provider of labor market data. According to the EMSI study, Cincinnati State's economic impact comes from three basic sources:
- As an employer and purchaser of goods and services, Cincinnati State adds about $75 million in added income to the region, the equivalent of supporting 1,383 jobs.
- Spending by students who either move to this region, or stay here, to attend Cincinnati State amounts to more than $10 million.
- Cincinnati State’s alumni have a $572 million annual impact on the region. Eighty-five percent of the college’s graduates stay in this region, significantly higher than any other major local college. The knowledge and skills alumni acquire at Cincinnati State allows them to receive higher earnings and increase the productivity and profits of businesses that employ them.
The EMSI report also found that Cincinnati State is an excellent investment for students, taxpayers, and employers.
- For every dollar students invest in Cincinnati State (including wages they would have made working instead of attending college) they can expect an average annual return on their investment of 18.7 percent due to higher future earnings. That is a significantly higher average annual return than investing in the stock market.
- For every dollar of public money invested in Cincinnati State, taxpayers will receive a cumulative value of $4.90 over the course of the students’ working lives due to higher taxes paid by graduates and their employers, and the reduced need for social and government services.
- For every dollar that employers invest in training through Cincinnati State’s Workforce development Center, they can expect a return of more then $33 due to higher productivity and business profits.