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YSU: Large regional economic driver

For the report, click here

YOUNGSTOWN — Youngstown State University pumps nearly $924 million a year into the five-county regional economy and supports nearly 16,000 jobs, according to an economic impact study the school released Tuesday.

The study done by Economic Modeling Specialists International looked at the impact YSU has in Trumbull, Mahoning and Columbiana counties in Ohio and Mercer and Lawrence counties in Pennsylvania, plus the university’s return on investment for students, taxpayers and the local community.

YSU President Jim Tressel said the report confirms what was already well-known, that “YSU is a major driver of the region’s economy and plays an enormous role in the educational, economic and social well-being” of the Mahoning and Shenango valleys.

Some other key findings in the report include:

• YSU generates nearly six times more in tax dollars than it spends. In 2016-17, the university received $54 million in support from the state, but generated $271 million for the region;

• The university supports one out of every 23 jobs in the region, including 3,710 in the health care / social assistance industry, 1,472 in government / non-educator sector and 900 in manufacturing;

• For every $1 students invest in education at YSU, the return is $5.20 in increased lifetime earnings;

• YSU’s $915,000 in payroll to support research activities in 2016-17 returned $3.1 million more in income to the regional economy;

• Start-up companies connected to YSU added nearly $30 million to the regional economy over the same period.

“The university benefits local businesses by increasing consumer spending in the region and supplying a steady flow of qualified, trained workers into the workforce,” the report states. “It enriches the lives of students by raising their lifetime earnings and helping them achieve their individual potential. It benefits state and local taxpayers through increased tax receipts across the state and a reduced demand for government-supported social services.”

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