According to the study, Cleveland State University contributed $3 billion to the state’s economy in the 2021-22 fiscal year

CLEVELAND, Ohio – Cleveland State University not only produces scholars, but a recent study has shown that it also has tremendous economic impact.

An economic impact study released last month by Lightcast, a jobs analysis firm, found that CSU delivered a $3 billion economic boost to Northeast Ohio and the state in fiscal year 2021-22. The study, which analyzed student and financial data, found that the public college with a large footprint in downtown Cleveland supported 36,843 jobs in northeast Ohio.

It also found that the thousands of CSU graduates during the year contributed $2.6 billion in additional income for the Northeast Ohio region.

“Thanks to the benefits of a bachelor’s or postgraduate degree, our graduates have much higher lifetime earnings potential compared to high school graduates and are seeing an impressive return on their investment,” said Laura Bloomberg, CSU President.

The study also found that CSU has the highest proportion of alumni residing in the state of Ohio’s public universities: 91% of alumni remain in the state one year after graduation, and 78% remain in the state after ten years.

“With more than 140,000 CSU alumni—most of whom live in northeast Ohio—CSU is an economic engine. We make a significant contribution to the region’s workforce, which in turn contributes to their communities. I’m very proud of the role CSU is playing in building a vibrant region,” Bloomberg added.

The study found that 23% of the university’s students are from outside of Northeast Ohio. It also noted that local visitors who come to the area for CSU events spent $1 million.

In addition to spending on students, CSU employed 1,734 full-time and part-time staff and spent $144.3 million on payroll, some of which went back into the local economy. The report also found that the university’s spin-off companies also generated $22.6 million in additional revenue for Northeast Ohio.

Megan Sims covers real estate for cleveland.com. For previous work, see this link.

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