University of Cincinnati's
$10.6 Billion Impact

A new study looking at the 2021-22 fiscal year finds that UC’s overall impact on the business community in southwest Ohio, northern Kentucky and eastern Indiana is $10.6 billion in added income to the business community, an amount that supports 125,057 jobs. For perspective, this means that one out of every 12 jobs in the region is supported by the activities of the university and its students.

Statewide, the study found that UC increases the economic base by $22.7 billion.

The study, conducted by Lightcast, an independent consulting firm, on behalf of the Inter-University Council of Ohio, is part of a larger report that found Ohio’s 14 public universities delivered $68.9 billion in total economic impact in FY 2021-22.

The education and training UC provides for regional residents has the greatest impact. Since the establishment of the university, students have studied at UC and entered or reentered the regional workforce with greater knowledge and new skills. Today, thousands of former UC students are employed in the Cincinnati Metropolitan Area. As a result of their education from UC, the students receive higher earnings and increase the productivity of the businesses that employ them.

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UC Health provides a hands-on learning and research environment for students and employs thousands of workers. This health care network is known for providing quality patient care that would not be possible without the university. In FY 2021-22, UC Health spent $2.1 billion on clinical operations that added income to the region.

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UC adds economic value to the Cincinnati Metropolitan Area as an employer of regional residents and a large-scale buyer of goods and services. UC employed 11,095 full-time and part-time faculty and staff in FY 2021-22, 93% of whom lived in Greater Cincinnati. Total payroll at UC was $551.2 million, much of which was spent in the region by employees. The university spent another $150.9 million on day-to-day expenses related to facilities, supplies and professional services.

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Research activities at UC impact the regional economy by employing people and making purchases for equipment, supplie, and services. They also facilitate new knowledge creation in the Cincinnati Metropolitan Area through inventions, patent applications and licenses. In FY 2021-22, UC spent $134.9 million on payroll and $307.4 million on other expenses to support research activities. Over the last four years, UC received 591 invention disclosures, filed 635 new patent applications, and produced 85 licenses.

Read: UC tops $615M in research spending

Around 49% of matriculated UC students originated from outside the region, most of whom relocated to the Cincinnati Metropolitan Area. In addition, some in-region students, referred to as retained students, would have left Cincinnati for other educational opportunities if not for UC. These relocated and retained students spent money on living expenses at regional businesses.

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UC invests in construction each year to maintain its facilities, create additional capacities, and meet its growing educational demands, generating a short-term infusion of spending and jobs in the regional economy.

Read: New Calhoun Hall points to the future of UC student housing

UC creates an exceptional environment that fosters innovation and entrepreneurship, evidenced by the number of UC startup and spinoff companies created in the region. Startup companies, created specifically to license and commercialize UC technology or knowledge, have a strong and clearly defined link to UC. These startups added $18.6 million in income to the Greater Cincinnati region in FY 2021-22. Spinoff companies, created and fostered through university programs or faculty and alumni, have a clear but weaker link to UC.

Read: Venture Lab-backed startup earns $6 million of funding

UC encourages its students and employees to volunteer in the area, where they can work with businesses and organizations to help meet their goals and grow, increasing their output and impacting the economy at large. The work of UC student and employee volunteers is equivalent to $14.1 million in earnings.

Read: Charitable kitchen offers UC students a service-learning co-op and a teachable moment 

Hundreds of thousands of visitors from outside the region were attracted to UC during the analysis year to attend commencement, sports events and other activities sponsored by the university. While in the region, visitors spent money for lodging, food, transportation and other personal expenses.

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