Mid State presentation: economic impact study estimates $180 million annual benefit to region
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Summary
A college-commissioned FY23–24 study presented to the board estimated Mid State generated about $180 million in added income for its three-county district, supported roughly 2,585 regional jobs, and showed strong alumni and taxpayer returns on investment.
Doctor Beth presented the results of a FY23–24 economic impact study commissioned by Mid State Technical College and covering Portage, Adams and Wood counties. The study estimated the college generated roughly $180,000,000 in added income annually and supported about 2,585 jobs across the region.
The presenter walked the Board through component impacts: operational spending generated approximately $31.6 million in added regional income (supporting about 701 jobs), construction spending tied to campus projects produced about $3.7 million (46 jobs), student spending generated roughly $3.3 million (85 jobs), and alumni contributions over time added about $141 million that supported 1,179 jobs. The presenter said students’ investment produced an estimated 22.3% annual return, with an average earnings increase of roughly $10,700 per year compared with a high-school graduate.
Doctor Beth said the college contracted with Lightcast (described in meeting dialogue as the external analytic partner) and used FY23–24 finalized data so that the center construction year would be included. She said the full report (about 60–80 pages) documents methodology and detailed calculations and is available on request. Board members discussed methodology differences between institutions and noted modeling choices can affect comparative figures.
The presenter said the college will share the findings via handouts, an infographic and press materials, and the Board discussed using the study in legislative and recruiting materials.
Ending: The Board received the study and encouraged further dissemination; no formal action or vote was required.
