ESI was tasked with completing an economic impact study for Cedarville University, a small, private Baptist university in Cedarville, OH. The school is home to more than 5,000 students and offers more than 175 undergraduate and graduate programs.
ESI used industry standard economic impact methodology as well as IMPLAN, an input-output modeling software program to direct, indirect, and induced impacts of the University. This report examined impacts for three concentric geographies: the Village of Cedarville, Greater Dayton (Greene, Montgomery, Miami, and Clark Counties), and the State of Ohio.
The main categories of economic and fiscal impact were annual operations, capital investments, student and visitor spending, and increased earnings for alumni. To calculate student and visitor spending, ESI created spending profiles for different types of students and visitors, based on where they lived and how much they were expected to spend.
ESI found that within Cedarville, the university generated $142 million in economic impact and supported 940 full-time equivalent positions. For Greater Dayton and the State of Ohio, those numbers increased to $328 million and 2,210 and $472 million and 2,970, respectively.
Additionally, within the state, Cedarville University’s economic impacts lead to over $8 million in state tax revenues.