Study details Marietta College's economic impact on region
College's total impact on Washington, Wood counties tops $55 million
MARIETTA, OHIO (12/01/2018) Service to the region remains one of Marietta College Core Values. That service comes in many forms - from providing a top-notch liberal arts education to adding countless intellectual and artistic enrichment opportunities to the community.
A recent study commissioned by the College and conducted by Ohio University's Voinovich School of Leadership and Public Affairs details another crucial piece of how Marietta College serves Southeast Ohio: the economic impact of the College on the region.
Marietta College, along with its students, faculty, staff, alumni and visitors, contributed more than $55 million in total economic impact to Washington County, Ohio, and Wood County, West Virginia, during the College's 2017 fiscal year (July 1, 2016-June 30, 2017).
"Marietta College has a unique position in the region as the only four-year liberal arts institution, and a residential college that attracts students from around the U.S. and the world," said Dr. Bill Ruud, Marietta College's 19th president. "We were encouraged to see from this recent study the impact and value Marietta College has on our local communities and businesses. The results of the report also help us emphasize our commitment and responsibility to be a vocal leader for a stronger community, and we are proud to be a key component of the local economy."
The comprehensive report, which was released today, evaluated the College's economic benefit in relationship to operations ($44,094,954 - Total Impact), student spending ($2,975,176), visitor spending ($6,878,065) and construction ($1,095,406).
Significant findings of the economic impact study show:
- Student spending contributed nearly $3 million in economic benefits in the regional in Fiscal Year 2017;
- A total of $2.8 million in tax revenue for state and localities throughout the region was directly associated with the College in FY 2017;
- For every three jobs at the College, an additional job is created in the regional economy.
- $21.8 million in likely support by the College to all industries in the region;
- $40.7 million that Marietta College has in expenses on goods and services during FY17.
"Many people think Marietta College only employs professors who teach in the classroom. In reality, our faculty do much more than that. They volunteer to teach elementary students the basics in physics, or organize Community Baseball Day, which attracts more than 1,000 people to Don Schaly Stadium every spring," said Tom Perry, Vice President for Communication and Brand Management. "But we also employ hundreds of people who never teach a class, but are valuable members of our campus and our community. The public may know them as neighbors, youth coaches, or choir members, but they also serve in a variety of positions at Marietta College that include health care, fundraising and marketing."
Located in Marietta, Ohio, at the confluence of the Muskingum and Ohio rivers, Marietta College is a four-year liberal arts college. Tracing its roots to the Muskingum Academy back in 1797, the College was officially chartered in 1835. Today Marietta College serves a body of 1,200 full-time students. The College offers 49 majors and is consistently ranked as one of the top regional comprehensive colleges by U.S. News & World Report and The Princeton Review, as well as one of the nation's best by Forbes.com. Marietta was selected seventh in the nation according to the Brookings Institution's rankings of colleges by their highest value added, regardless of major.