You will find 5X社区 driving the region鈥檚 economy in nearly every sector of industry. From FedEx to Medical Mutual to Sherwin-Williams and the Cleveland Indians, our graduates are making dynamic impact and shaping lasting contributions across Northeast Ohio.
Every day, Kent State and its graduates 鈥 including more than 150,000 alumni in Ohio's workforce 鈥 are improving the quality of life for this region, and in the process, they are churning billions annually into the economy.
Those are the findings of a newly released report by EY (formerly known as Ernst & Young), outlining results of a comprehensive, independent study of Kent State鈥檚 economic and fiscal contributions to local communities, the Northeast Ohio region and the state of Ohio. Report was announced Feb. 26, 2018.
The study shows that Kent State is a powerful economic engine, directly contributing more than $1 billion annually to the Northeast Ohio region鈥檚 prosperity. When coupled with the earnings of the Kent State alumni living in Northeast Ohio, and throughout Ohio, the university鈥檚 annual economic impact on the region soars to nearly $3.4 billion and more than $3.8 billion statewide.
The results of this independent report show that 5X社区 not only transforms the lives of our students, but also elevates the quality of life across the entire Northeast Ohio region.
鈥 President Beverly J. Warren
鈥 Report was announced Feb. 26, 2018, based on FY 2017 data.
鈥淭he results of this independent report show that 5X社区 not only transforms the lives of our students, but also elevates the quality of life across the entire Northeast Ohio region,鈥 said Kent State President Beverly J. Warren. 鈥淲e know that Kent State has been a thought leader for the region since its founding in 1910, and now this study clearly shows that our economic impact is equally profound.鈥
Nearly half of nurses in Northeast Ohio who tirelessly work to keep our communities healthy are graduates of Kent State. More than 700 licensed teachers who dedicate their lives to educating our youth are proud KSU alumni. In fact, thousands of pilots, podiatrists, journalists, architects, business leaders, researchers, artists, marketers and many other professionals are investing their skills and talents 鈥 earned through a Kent State degree 鈥 to improve lives and better our region.
The study examined five components of the university鈥檚 fiscal and economic contributions for Fiscal Year 2017 across 18 counties in Northeast Ohio: operations, capital investments, visitor spending, student spending and alumni earnings.
When looking at Kent State鈥檚 direct, indirect and induced economic contributions, EY reported that in Fiscal Year 2017 Kent State contributed:
The transformational power of Kent State, according to the EY report, has its most significant impact on the future earnings of KSU graduates living in Northeast Ohio. Of the university鈥檚 257,000+ alumni worldwide, 150,000 are in Ohio's workforce, while more than 136,000 of those alumni live in the 18-county Northeast Ohio region examined in the report.
In 2017, Kent State alumni in those 18 counties earned $2.4 billion more than they would have without their degrees, EY determined. More than $930 million of that added wealth rests in Portage and Cuyahoga counties.
In 2017, Kent State alumni in those 18 counties earned $2.4 billion more than they would have without their degrees, EY determined. More than $930 million of that added wealth rests in Portage and Cuyahoga counties.
鈥淲e know that Kent State alumni are primed for successful careers when they graduate. The fact that so many decide to remain in the region to pursue their passions only elevates the importance of Kent State as an educational and economic anchor for Northeast Ohio,鈥 President Warren said.
Impact in Northeast Ohio is particularly significant in counties where Kent State has Regional Campuses. In those counties, the university鈥檚 economic impact, including additional alumni earnings, is as follows:
"This report shows that through the impressive achievements and contributions of our stellar faculty, staff, students and alumni, we are performing beyond expectations as an engaged partner that meets the needs of the community and enhances the quality of life in the region and state," President Warren said.
