Study Confirms Edison’s Positive Impact on Regional Economy

Edison Community College recently administered an economic impact study for its 2012-2013 fiscal year. During the study, regional economic impact analysis and investment analysis were completed. The results demonstrated that the College creates value in many ways that benefit Ohio’s society as a whole.

The regional economic impact analysis examined the impact of Edison on the local business community through increased consumer spending and enhanced business productivity. Results were measured in terms of added income and organized into three categories–impact of college operations; impact of the spending of students who relocated to the region, and; impact of the increased productivity of former students that were employed in the regional workforce during the analysis year.

Edison’s greatest impact results from the education and training it provides to local residents. Edison alumni have generated more than $111 million in added income in the region, representing the higher wages that students earned during the year, the increased output of the businesses that employed the students, and the multiplier effects that occurred as students and their employers spent money at other businesses.

The second portion of the study, the investment analysis, determines whether or not a proposed venture is profitable within the same fiscal year. For every dollar that state taxpayers spent on Edison Community College during the analysis year, society will receive a cumulative value of $53.20 in benefits, for as long as Edison’s students remain active in the state workforce. This is doubled in comparison to the national average in which society as a whole will receive a cumulative value of $25.90 in benefits.

The results of this study demonstrate that Edison creates value from multiple perspectives. The college benefits local businesses by increasing consumer spending in the region and supplying a steady flow of qualified, trained workers into the workforce. It enriches the lives of students by raising their lifetime incomes and helping them to achieve their individual potential. It benefits society as a whole in Ohio by creating a more prosperous economy and generating a variety of savings through the improved lifestyles of students. Finally, it benefits state taxpayers through increased tax receipts across the state and a reduced demand for government-supported social services.

To view a further detailed publication of Edison’s economic impact and return on investment of education visit www.edisonohio.edu/executivesummary.