The Ohio State University Announces Recognition of Economic Development Week
The Ohio State University marks the week of May 8 to May 12, 2023, as Economic Development Week. During this week, which is hosted by the International Economic Development Council, communities across North America will celebrate and recognize the contributions made by professional economic developers to create more economically vibrant and livable communities.
As one of the nation’s top universities, Ohio State is estimated to have supported $19.6 billion of industry output in Ohio, 116,819 jobs, $7.5 billion of labor income and $663.1 million of tax revenue to state and local governments, according to the University’s Economic Impact Report. Operational and capital spending by Ohio State’s campuses, which include Columbus, Lima, Marion, Mansfield, Newark and College of Food, Agricultural and Environmental Sciences Wooster (exclusive of the Wexner Medical Center), coupled with student and visitor spending supported an estimated $9.7 billion of industry output in Ohio. Additionally, the campuses combined created 61,243 jobs, $3.1 billion of labor income, and $327.9 million of tax revenue. Wexner Medical Center’s operations support an estimated $9.4 billion of industry output, 52,294 jobs, $4.0 billion of labor income and $318.3 million of tax revenue.
“The Ohio State University is proud of the economic impact we provide to the Columbus region and around the country through our talented students, faculty, staff, and partners” said Alissa Comella, Vice President of Corporate Partnerships at The Ohio State University. “We are honored to join communities worldwide participating in the 2023 Economic Development Week to encourage the celebration of the innovative programs and talent we employ here at Ohio State. The economic boost we bring to the state of Ohio would not be possible without our collaboration with strategic industry partners committed to advancing innovation."
The Office of Innovation and Economic Development works closely with inventors, companies, entrepreneurs, investors and other organizations by connecting the right people and resources to fill gaps and solve complex problems. OIED oversees the university’s Technology Commercialization, Corporate Partnerships, and the Keenan Center for Entrepreneurship.
Created in 2016 by International Economic Development Council (IEDC), the largest international professional trade association for economic developers, Economic Development Week aims to increase awareness for local programs that create jobs, advance career development opportunities, and improve the quality of life in communities everywhere.
“As local and regional economies evolve, the role of economic developers and development organizations are crucial in energizing, preparing, and promoting local economic growth,” says IEDC President & CEO Nathan Ohle. “The 2023 Economic Development Week will recognize, distinguish, and show appreciation for the innovation and leadership of our community leaders building an equitable, sustainable, resilient, and inclusive future. I hope communities everywhere will join us in celebrating the accomplishments and important work economic developers perform in their communities year-round.”