Economic Impact

 

students talkingEconomic Impact and Benefits of the Wright State University College of Liberal Arts on the Dayton Regional Economy

*Full Report

The annual combined economic impact and benefits of Wright State University’s College of Liberal Arts (CoLA) to the Dayton Region is $539,124,651. From talent development to student spending to the annual generation of 622 jobs (331 of which are directly employed by CoLA), this single College at Wright State has a substantial impact on the region.

The economic benefit to the Dayton region is greatest in terms of CoLA’s capacity to provide education and career enhancement to the region’s residents. Nearly 20,000 students have received their bachelor’s or master’s degree from CoLA since 1982. After adjusting that workforce of 20,000 for attrition and outmigration, human capital calculations estimate annual earnings for COLA bachelor and master degreed graduates of $482,458,557 in the Dayton region.

Number of Graduates 1982-2012* Median Earnings in 2012** Total Earnings in 2012**
19,954 $49,250 $482,458,557

* A typical work-life period is 30 years.
**Calculations based on the proportion of graduates in the workforce in 2012.
Data Source: Wright State University
Analysis: Applied Policy Research Institute, Wright State University
CoLA’s total annual economic impact is $56,666,094. This total impact was calculated by IMPLAN (a software tool for economic impact analysis), and takes into account operations spending, on and off-campus residential student spending, and visitor spending.

  Direct Expenditures Impact on Supporting Industries Impact on other Industries due to Household Spending Total Impact
Employment 415.3 24.6 182.3 622.2
Labor Income $24,905,322.03 $1,053,438.70 $6,592,134.26 $32,550,894.99
Value Added1 $26,933,454.78 $1,939,688.65 $11,857,014.67 $40,730,158.10
Output (Sales)2 $31,898,922.72 $3,692,564.96 $21,074,606.61 $56,666,094.29

Data Source: Wright State University
Analysis: IMPLAN and Center for Urban and Public Affairs, CUPA, Wright State University
1Value added is often referred to as Gross Regional Product (GRP).
2Labor Income is a subset of Value Added and Value Added is a subset of Output.