Tuesday, February 21, 2017.
By Ohlone College.
Ohlone College recently employed the services of Economic Modeling Specialists International (EMSI), a leading provider of economic impact studies and labor market data to educational institutions, workforce planners, and regional developers in the U.S. and internationally. The charge they were given was to research and report on the college’s economic impact and investment analysis.
First and foremost, Ohlone promotes economic growth in the Ohlone Community College District
- It is an employer and a buyer of goods and services, and the living expenses of students benefit local businesses.
- Ohlone is a primary source of education to their District residents, and it supplies trained workers to industries in the District and beyond.
- Ohlone is an important employer in Fremont, Newark and Union City region.
- During the 2014-15 fiscal year, the college employed 729 full-time and part-time faculty and staff.
- Of these, 30% lived in the district.
- Total payroll at Ohlone was $47 million
- Much of which was spent in the district on groceries, rent, dining out, clothing, and other household expenses.
The impact of Ohlone’s spending:
- Ohlone is itself a large-scale buyer of goods and services
- During the same year the college spent $23.7 million to cover its expenses for facilities, professional services, and supplies.
- Ohlone added $46.8 million in income to the district during the analysis year as a result of its day-to-day operations.
- The $46.8 million in added income is equivalent to supporting 747 jobs.
The Impact of Student Spending:
- Approximately 46% of students attending Ohlone originated from outside the district in FY 2014-15, and some of these students relocated to the District to attend Ohlone.
- These students would not have come to the district if the college did not exist.
- A number of in-district students would have left the area for other education opportunities if not for the existence of the college.
- While attending the college, these “relocator” and retained students spent $16.1 million to purchase groceries, rent accommodation, pay for transportation, etc., generating $507,100 in added income in the district economy during the analysis year, which is equivalent to supporting nine jobs.
The Impact of Alumni:
- The education and training Ohlone provides for district residents results in the greatest impact.
- Since the college was established, students have studied at Ohlone and entered the district workforce with new skills.
- Today, thousands of former students are employed in the Ohlone College’s District and region.
- During the fiscal year of analysis, past and present students of Ohlone generated $291.2 million in added income for the Tri-Valley region.
- This $291.2 million in added income is equivalent to supporting 3,014 jobs.
The Net Effect:
Including college, student, and alumni spending, the simple economic impact of Ohlone College within their district comes to $338.6 million, or the equivalent of 3,770 jobs!
- The $338.6 million in added income was equal to approximately 1.6% of the Gross Regional Product of the Ohlone Community College District.
- By comparison, this contribution that the college provides on its own is nearly as large as the entire Information industry in the district.