The Impact of Southwestern Ohio Council for Higher Education on the Economy of Southwest Ohio
The Southwestern Ohio Council for Higher Education (SOCHE) is a consortium of
colleges and universities dedicated to advancing higher education in the Dayton/Miami
Valley region. SOCHE has a considerable economic impact on the communities it
serves. The economic impact of the consortium is the subject of this analysis.
This study measures the economic impact on the Miami Valley of 19 colleges and
universities that are members of SOCHE.
What are the economic impacts of the schools of the Southwestern Ohio Council for Higher Education?
- The total economic impact of these 19 colleges and universities, including spending
by non-local students and visitors, is $2.95 billion. - SOCHE members had a total economic impact of $2.65 billion in the 2005-06
academic/ fiscal year, which generated $1.07 billion in household income and
supported 33,648 full-time and part-time jobs including student jobs. - The economic impact related to non-local student and visitor spending is
estimated at $266.3 million to $325.5 million ($295.9 million -/+ 10%). - Through their operations and the related indirect and induced activity, SOCHE
members accounted for nearly $69.3 million in state and local tax revenues in
2006
What is the combined spending and employment of SOCHE schools?
- In the 2005-06 academic/fiscal year, SOCHE member institutions' operating
expenditures totaled more than $1.14 billion, and they had capital expenditures
of $150.6 million. - SOCHE members employed a total of 21,366 people, of which 39.8 percent were
full-time, and 60.2 percent were part-time and student workers.
Are there other impacts not measured by this study?
- This economic impact study does not measure non-economic benefits, but adheres
to accepted methods of analyzing regional economic impacts. While such an
approach will miss some advantages that SOCHE may have, it will provide
conservative estimates and minimize the possibility of overstating the actual
impact. - SOCHE members also produce benefits through the development of human capital,
and make a significant contribution to the vitality of their communities through
lectures and other programs that are open to the public, service activities, and
participation in civic affairs. In addition, the members of SOCHE are involved in the
life of the larger community. - Because a number of schools are undertaking major expansion projects, the overall
economic impact of member schools is expected to grow in the years ahead.
“The UC case study on the impact of our signs was simple to participate in. The researchers were knowledgeable and easy to work with. Their requests were concise and respectful of our time. They reported findings in a manner that protected the confidentiality of our financial numbers.”- 
“The Economics Center has proven to be a great partner and an excellent resource to Cadmus. Their knowledge about the local community and economy—coupled with their analytic capabilities—have been important components of our evaluation and very well received by our client. We look forward to our continued collaboration with the Center.”- 
Julie has extensive experience in labor economics, particularly applying statistical methods to decision-making. She is proud to be a part of a professional, creative research team that brings a variety of approaches to addressing the issues of the larger community. - 
“The Economics Center partnered with ACEEE in providing a first-of-its-kind market study on the potential for energy efficiency investment in Greater Cincinnati. As a non-profit organization that has attracted nearly $20m of public and private investment in three years, we believed the Market Study is a critical building block in helping us achieve our goals.”- 
George’s major focus areas are regional economics and human capital. With his colleagues at the Economics Center, he continues to apply lessons learned in those fields to economic development and workforce development.
“We needed to communicate the value of our institution in the local community and the Economics Center’s economic impact analysis helped us accomplish that goal. They were very easy to work with and met our expectations. We will certainly utilize their services for economic analysis in the future and would recommend them to others.”- 
“We understand that great economic analyses is valuable only to the extent to which it can be understood and utilized. That is why our approach converges the science of research and the art of storytelling.”- 
Jeff has worked with leaders from the public, private, and non-profit sectors, designing and implementing economic development and research projects in response to diverse community issues.
“We're very pleased with the results of this study. Often times, when people think about arts and culture organizations, they do not take into account the economic benefits that come with the educational and entertainment benefits. That was one of our main goals when commissioning this project." 
“The Economics Center brings analytical expertise and valuable insights that helps our clients to develop and, then, communicate key messages. The research team understands we are in a world increasingly dependent on data for decision making. The Center is an important partner in our business and a valuable resource to our community.” - 
“As a research-based organization, Cincinnati Works relies heavily on the type of data and analysis the Economic Center provides. Their ability to analyze economic trends and assess the impact they have on job seekers and workforce development is valuable to the work that we do here at Cincinnati Works.” 
“The TIF Model is intuitive, easy and flexible for report to the Township Trustees to help them understand the resources that Deerfield Township may have available. The Trustees really appreciate having a tool that can inform planning for the future, beyond the upcoming year.” 
“The Center worked to understand our community and our needs. They developed a set of custom economic indicators for Newaygo County, MI. We believe that this information is critical for expressing unique assets of our community and in making important decisions for our economic vitality.” -