ERIC Number: ED479735
Record Type: RIE
Publication Date: 2003-Apr
Reference Count: N/A
The Economic Impact of Implementing the Cincinnati Public Schools' Facilities Master Plan on Greater Cincinnati.
The construction proposed in the Cincinnati Public Schools' Facilities Master Plan will have a significant impact on the greater Cincinnati, Ohio, economy. Highlights include: (1) the Facilities Master Plan of the Cincinnati Public Schools envisions a 10-year program with $985 million in construction spending. The funding of this program includes $211 million from the State of Ohio, which increases the purchasing power of the $774 million local funding commitment; (2) the Facilities Master Plan will generate a total of $2.35 billion in economic impact, including $718 million in local household wages and salaries, meaning an average annual impact of the Facilities Master Plan for the next 10 years of $232 million, and household earnings totaling $71 million and 2,339 jobs will be generated for area residents each year; (3) the return of $718 million in wages and salaries for $774 million in local dollars is important, meaning that every $100 in local funding ultimately returns $93 in wages and salaries to the pockets of local workers; (4) business activity will especially be stimulated in the construction, business services, real estate, and retail sectors; and (5) economic benefits may result from improvements in educational quality, quality of life, and physical conditions of neighborhoods, but are not measured here. (Author/SM)
Descriptors: Economic Impact, Educational Facilities Planning, Educational Finance, Elementary Secondary Education, Labor Economics, Public Schools, School Buildings, School Construction, Wages
Economics Center for Education and Research, University of Cincinnati, One Edwards Center, Suite 3130, P.O. Box 210223, Cincinnati, OH 45221-0223. Web site: http://www.EconomicsCenter.org.
Publication Type: Reports - Descriptive
Education Level: N/A
Authoring Institution: N/A
Note: Produced by Cincinnati University, Economics Center for Education & Research.