Economic Impact - Knox Campus

Economic Impact - Knox Campus

 
Central Ohio Technical College is pleased to share results from a recent Economic and Fiscal Impact Analysis, conducted by an independent firm, Impact Data Source.

According to the research study, during fiscal year 2011-2012, COTC and Ohio State Newark employed a total of 688 faculty and staff, paid $32.7 million in wages and benefits and spent $9.8million in other operating expenditures. Students attending the shared campus received more than $31.3 million in financial aid in the form of scholarships and loans, combined. In short, the impact of the shared campus of COTC and Ohio State Newark is greater than the institutions’ direct spending and employment, overall. Expenditures spur additional spending, setting in motion a chain reaction of additional indirect and induced spending, according to the study. These economic ripple effects impact the local economy in quantifiable ways.

Our work involves so many people, and the result of our work is both rewarding and interesting when we look at the broad scope, as well as the individual impact,” stated Bonnie L. Coe, Ph.D., COTC President. “It matters to us in terms of every life that is enhanced, as well as the myriad of businesses and organizations throughout the region who benefit from the patronage of our employees, students, and graduates.

COTC Knox Economic and Fiscal Impact InfographicIn total, combining direct, indirect, and induced economic impacts, the institutions supported 954 jobs, $46.8 million in workers’ earnings and $77.8 million in economic output or sales in Licking County, according to t​he study.

It is worth noting that, in addition, the socioeconomic benefits to higher education can be summarized by a better life for the individual and reduced costs to society. As outlined in the study, the more education an individual obtains, the more likely they will become a productive member of society. Investments made in education, by individuals and as a community, will pay dividends now and in the future.

 Popular Pages

 

 

Lifelong Learning Institutehttp://www.cotc.edu/Communities/Pages/Lifelong--Learning-Institute.aspxLifelong Learning Institute
Workforce Development Innovation Centerhttp://www.cotc.edu/Communities/Pages/Workforce-Development-Innovation-Center-(2).aspxWorkforce Development Innovation Center
Institutional Planning http://www.cotc.edu/Communities/Pages/Institutional-Planning--.aspxInstitutional Planning
The John Gilbert Reese Centerhttp://www.cotc.edu/Communities/Pages/The-John-Gilbert-Reese-Center.aspxThe John Gilbert Reese Center
College ASPIREhttp://www.cotc.edu/Communities/Pages/College-Aspire.aspxCollege ASPIRE

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Agenda 01-17-17http://www.cotc.edu/Communities/Documents/Agenda 01-17-17.pdfAgenda 01-17-17
Organizational Agenda 1-17-17http://www.cotc.edu/Communities/Documents/Organizational Agenda 1-17-17.pdfOrganizational Agenda 1-17-17
Lifelong Learning Institutute Talk.120716http://www.cotc.edu/Communities/Documents/Lifelong Learning Institutute Talk.120716.pdfLifelong Learning Institutute Talk.120716
Figures for Beck's LLI Talk.120716http://www.cotc.edu/Communities/Documents/Figures for Beck's LLI Talk.120716.pdfFigures for Beck's LLI Talk.120716
The Presidential Electionhttp://www.cotc.edu/Communities/Documents/Figures for Beck's LLI Talk.120716.pptxThe Presidential Election

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Givinghttp://www.cotc.edu/Communities/Pages/Give-to-COTC.aspx GivingFalse
Campus Locationshttp://www.cotc.edu/Discover/Pages/Campus-Locations.aspx Campus LocationsFalse
Where Education Workshttp://www.cotc.edu/Discover/Pages/Education-that-Pays.aspx Where Education WorksFalse
Economic Impacthttp://www.cotc.edu/Communities/Pages/Economic-Impact.aspx Economic ImpactFalse
The Reese Centerhttp://www.cotc.edu/Communities/Pages/The-John-Gilbert-Reese-Center.aspx The Reese CenterFalse