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Young, (937) 775-3232.
January 29, 1998
WRIGHT STATE CONTRIBUTES
$541 MILLION TO LOCAL ECONOMY
Wright State University's economic impact in Ohio is nearly seven times greater than
the state's $81 million investment in the university, according to a report released on
Wednesday by the Inter-University Council (IUC) of Ohio.
Wright State's total economic impact was $541 million for the 1996-97 school year.
That figure is based on the $270.4 million IUC estimated the university's employees,
students and visitors spent in Ohio. The IUC report assumed, on average, that these
dollars were spent at least one more time before leaving the state.
Forty-three percent of the university's total resources -- $189 million -- came from the
state. For each dollar Ohio invested, Wright State generated an additional $1.34 for
its operating expenses from other sources.
According to the IUC report:
More than 3,000 jobs for Ohioans were directly attributable to the university and
its direct expenditures.
The university employed 2,312 non-student employees and 1,800 student
employees.
The university's estimated in-state purchases of $10.5 million created about 432
jobs.
The university's capital expenditures of $8.1 million supported an additional 324
jobs for Ohioans.
Wright State employees pumped $67.3 million in spendable income -- fully 83
percent of the university's annual state subsidies and appropriations ($81 million)
-- into the state and local economy.
The university's employees paid more than $1.4 million in local income taxes
and $11.5 million in federal income taxes and Medicare contributions.
Wright State students spent an estimated $113.3 million for off-campus housing,
food, transportation, books, clothing, laundry, insurance, miscellaneous supplies
and telephone services.
Each of the university's 647 non-resident students spent an average of $12,635,
making the total import of non-resident student spending to Ohio about $8.2
million.
In 1996, an estimated 1.1 million people visited Wright State and spent at least
$32.2 million in the local economy -- not including expenditures to the university.
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