Economic Impact Study 2024

ECONOMIC

IMPACT STUDY

ABOUT

TIFFIN UNIVERSITY Tiffin University (TU) is an independent, private institution of higher education, chartered by the State of Ohio to award degrees at the associate, bachelor’s, master and doctorate level. Founded in 1888, Tiffin University is located in north-central Ohio, a 153-acre campus in Tiffin, Ohio that serves as a vibrant and warm home for a culturally diverse educational community. TU offers classes oncampus, online and in the countries of Romania and Switzerland, as well as Latin America.

Tiffin University’s programs are authorized by the Ohio Department of Higher Education and are accredited by the Higher Learning Commission (HLC), is one of the six regional accreditation bodies recognized by essentially all of the major public and private colleges and universities in America.

TU’s School of Business is accredited by the Accreditation Council for Business Schools and Programs (ACBSP). The ACBSP is a leading specialized accreditation body for business education supporting, celebrating and rewarding teaching excellence. Institutions with this accreditation are committed to continuous improvement that ensures their business program will give students the skills employers want.

Throughout history, TU has maintained its dedication to providing a professionally focused, learning-centered education to prepare students for successful careers and for productive and satisfying lives of excellence, leadership and service.

Top Programs: Business Management, Psychology: Human Services, Forensic Psychology, Exercise Science, Cyber Security and Computer Science Degrees: Associate, Bachelor’s, Master’s and Doctorate Budget: $42,131,536 Budget tuition and fees gross: $54,381,749 Budget tuition and fees net: $31,021,068 STUDENT ENROLLMENT 3,176 total student enrollment TU SEATED ENROLLMENT • Undergraduate - 1,354 students (approx. nine months on campus)

- On-campus - 825

- Commute - 529

- 250 commuters in Seneca County or nearby • Graduate - 94 students (approx. nine months on campus) TU ONLINE AND EXTENDED LEARNING • Undergraduate - 722 • Graduate - 652 Non degree seeking - 354

1

TIFFIN UNIVERSITY

OUR ALUMNI Tiffin University’s living alumni - 14,746 Students employed or continuing education six months after graduation: 91%

Top Alumni Employers: • Marathon • Cuyahoga Community College • Amazon • Whirlpool Corporation

• PNC • Cleveland Clinic • US Army • Terra State Community College

• Walmart • State of Ohio • Progressive Insurance

*per Live Alumni

TIFFIN UNIVERSITY

OUR TEAM

Number of full time faculty - 66 Number of staff - 186 Total salaries and benefits (from payroll) $23,284,527.26 Total paid to vendors in located in Seneca County $6,298,498.91

TU STUDENTS’ IMPACT ON OUR COMMUNITY Based on the survey, on average, an undergraduate student spends:

Based on the survey, on average, a graduate student spends:

• $140 a month on groceries • $84 a month at restaurants • $330 a month on rent/utilities (for those who live off-campus) • $40 a month on entertainment • $34 a month on personal care

• $712 a month on groceries • $125 a month at restaurants • $375 a month on rent/utilities (for those who live off-campus) • $10 a month on entertainment • $60 a month on personal care

We can conclude that:

• TU students spend a total of $4.165 million at local establishments.

• 50% of TU students have friends and family visit them in Tiffin. On average two to three people come 11 times a year and, on average, they stay for two days. A quarter of guests stay at local hotels for at least two nights a visit. Assuming three meals a day, at $20 each and at $120 a night at the local hotel, guests contribute at least $2.09 million to the local economy. *Currently, available multipliers (multipliers that were used to calculate indirect and induced impacts) are for 2022.

• TU’s undergraduate students contribute 28,500 volunteer hours a year • 100% of first-year students are involved in serving-learning projects 2

ECONOMIC IMPACT OF TIFFIN UNIVERSITY OPERATIONS ON SENECA COUNTY IMPACT

EMPLOYMENT

LABOR INCOME

VALUE ADDED

OUTPUT

Direct

4242.68

$24,781,697.27

$25,571,100.63

$29,767,231.12

Indirect

449.76

$18,500,541.28

$23,758,415.12

$38,819,552.07

Induced

104.65

$3,830,456.03

$8,671,097.76

$15,410,791.83

979.09

$47,112,694.57

$58,000,613.52

$83,997,575.02

TOTAL

DIRECT

Impacts generated as a result of spending on operations, capital expenditures, pay and benefits, student spending and visitor spending.

INDIRECT

The increase in demand for goods and services in industry sectors that supply or support the University, the students and visitors. (Often referred to as the supply chain.)

INDUCED

The third wave of impact created as a result of household spending by TU employees, students and suppliers. Induced impacts estimate the effect of increased household income, including housing, household goods, entertainment, food, clothing, transportation and other categories of personal spending.

RANK

INDUSTRY

DIRECT

INDIRECT

INDUCED

TOTAL IMPACT

1

481 - Junior college, colleges, universities and professional schools

355.02

4.62

3.81

363.48

2

509 - Full-service restaurants

34.09

1.43

5.52

41.04

3

53 - Construction of new educational and vocational structures

40.36

0

0

40.36

4

447- Other real estate

5.8

13.04

2.39

21.23

5

517 - Personal care services

16.52

.03

1.8

18.35

6

406 - Retail - food and beverage stores

6.5

.06

3.79

10.35

7

510 - Limited-service restaurants

.01

.47

8.2

8.67

8

511 - All other food and drinking places

0

1.14

3.61

5.01

9

521 - Religious organizations

1.22

0

3.52

4.74

10

448 - Tenant-occupied housing

.47

0

3.43

3.89

477.23

42.21

104.65

624.10

OVERAL TOTAL

3

TU’S IMPACT ON INDUSTRIES OUTPUT IN SENECA COUNTY, OHIO IN 2022 (Top 10 industries, based on total output impact)

DESCRIPTION

FEDERAL TOTAL

STATE TOTAL

Social insurance tax: employee contribution

$1,676,174.30

$32,150.91

Social insurance tax: employer contribution

$1,393,610.22

$32,976.86

TOPI: Excise taxes

$55,944.85

TOPI: Custom duty

$62,325.86

TOPI: Sales tax

COUNTY TOTAL

$1,315,307.55

TOPI: Property tax TOPI: Motor vehicle license

$10,743.01

TOPI: Severance tax

$4,145.16

TOPI: Other taxes

$64,821.56

SUB COUNTY (SP. DIST.) TOTAL

$131,884.68

$1,950.09

$140,947.32

$72,626.76 $2,613.09

$517.65

TOPI: Special Assessments

$132.42

$6,347.92

OPI: Corporate profits tax

$353,162.57

$21.80

Personal tax: Income tax

$1,654,015.19

$275,064.96

SUB COUNTY (GENERAL) TOTAL

$2,975.69 $4,864.06

$27,474.10

$129,154.43

Personal Tax: Estate and gift tax Personal tax: Motor vehicle license

$8,042.70

Personal tax: other tax (fish/hunt)

$4,878.14

TOTAL

$5,195,233.00

$1,145.76

$1,748,152.65

$279,697.57 4

$599,202.39

$215,329.89

TU’S VALUE ADDED COMPONENTS

BY INDUSTRY (Top 10 industries by total value added)

RANK

INDUSTRY

DIRECT

INDIRECT

INDUCED

TOTAL IMPACT

1

481 - Junior colleges, colleges, universities and professional schools

$17,801,770.93

$232,803.24

$191,295.69

$18,225,869.85

2

53 - Construction of new educational and vocational structures

$2,760,611.30

0

0

$2,760,611.30

3

449 - Owner-occupied dwellings

0

0

$2,060,736.64

$2,060,736.64

4

509 - Full-service restaurants

$1,085,358.26

$45,587.38

$175,838.33

$1,306,783.97

5

441 - Monetary authorities and depository credit intermediation

$14,043.70

$272,952.53

$582,571.51

$869,567.74

6

406 - Retail - Food and beverages stores

$357,745.07

$3,330.20

$208,710.57

$569,785.84

7

413 - Retail - Nonstore retailers

0

$11,064.45

$121,653.89

$465,718.34

8

447 - Other real estate

$108,595.36

$244,332.23

$44,832.24

$397,759.82

9

490 - Hospitals

0

0

$362,352.12

$362,352.12

10

47 - Electric power transmission and distribution

0

$193,261.29

$162,963.44

$356,224.73

$23,506,375.79

$2,538,612.71

$8,671,097.76

$34,716,086.26

OVERAL TOTAL

INDUSTRY SUMMARY FOR SENECA COUNTY, 2022 (Top 10 industries based on total employment)

DESCRIPTION

TOTAL EMPLOYMENT

TOTAL OUTPUT

TOTAL INTERMEDIATE INPUTS

TOTAL VALUE ADDED

LABOR INCOME

510

Limitedservice restaurants

1,229.35

$114,596,406.12

$70,639,129.65

$43,957,276.47

$25,837,289.29

542

*Employment and payroll of local govt, education

1,201.81

$93,909,791.79

$0

$93,909,791.79

$79,250,373.26

3

544

*Employment and payroll of local govt, other services

721.5

$52,891,676.02

$0

$52,897,676.02

$44,442,379.81

4

447

Other real estate

649.94

$93,570,721.02

$81,392,740.97

$12,177,980.05

$3,751,976.82

5

193

Other plastics product manufacturing

620.56

$211,996,512.79

$151,990,282.36 $60,006,230.43

$41,767,361.27

6

509

Full-service restaurants

598.83

$45,826,353.90

$26,758,810.87

$19,067,543.03

$11,351,286.52

7

2

Grain farming

598.51

$108,489,673.12

$78,907,186.44

$29,582,486.68

$16,530,288.41

347

Motor vehicle gasoline engine and engine parts manufacturing

575.54

$364,822,992.82

$318,253,678.48

$46,569,314.34

$40,390,563.79

481

Junior colleges, colleges, universities and professional schools

554.7

$40,690,774.03

$12,876,272.54

$27,814,501.49

$22,218,900.92

491

Nursing and community care facilities

554.3

$43,873,836.59

$19,387,554.12

$24,486,282.41

$22,505,429.08

RANK

INDUSTRY

1

2

8

9

10

CODE

6