OFIC Announces $2 Billion Annual Economic Impact from its 33 Independent Member Campuses on the State of Ohio
Study highlights financial impacts of independent liberal arts colleges and universities on the state of Ohio - calls for campus student support and partnership with Ohio’s corporations
The Ohio Foundation of Independent Colleges (OFIC), a non-profit organization that represents 33 independent colleges and universities enrolling over 80,000 students across the state of Ohio, today announces the results of an economic impact study (EIS) resulting in a $2 billion annual impact from its members on the state of Ohio.
Commissioned by OFIC and conducted by G. Jason Jolley, Ph.D., and Eric Belleville, M.A., from Ohio University’s Voinovich School of Leadership and Public Affairs, the economic impact study was designed to assess the economic impact of OFIC’s 33 member institutions on the state of Ohio. Institution operations, construction, and students spending for OFIC member institutions represented $2 billion in annual economic impact. OFIC successfully competed for a capacity-building grant from the Council of Independent Colleges (CIC), located in Washington, DC, which funded the study.
“Each of our member colleges and universities generate economic value communities, and their impact is big,” stated OFIC President Bill Spiker. “These figures tangibly showcase the fiscal impacts our members have on the state of Ohio. Students from our liberal arts-based campuses demonstrate impact through their leadership, analytical problem-solving skills, and enhanced written and verbal communication. Our intent is to elevate awareness of those fiscal and "people” impacts to Ohio business leaders to demonstrate the importance of our sector and growing need for student support through scholarship and internship programs,” continued Spiker.
OFIC works with top companies in Ohio and beyond whose HR teams strive to maintain a steady pipeline of educated, work ready candidates. Partnering with OFIC affords those companies the opportunity to become top intern and employment choices for recent graduates, especially liberal arts graduates from OFIC’s 33 member campuses. Learn more at ofic.org/impact.
About The Ohio Foundation of Independent Colleges (OFIC)
The Ohio Foundation of Independent Colleges believes every student that enrolls at a member campus deserves the opportunity to complete their college education. Every day we connect and partner with corporations and foundations to make this dream possible by helping to keep education affordable through scholarships, internships and career opportunities. Our goal is to facilitate an exceptional appreciation of independent higher education and its impact on the state of Ohio’s citizens, economy, and culture. Through OFIC’s Scholarship Management Resources, we create national scholarship opportunities by partnering with organizations in Ohio and beyond. Learn more at ofic.org.