Kent State has a $3.4 billion impact in the Northeast Ohio regional economy, according to a new report.

University officials unveiled the results of the report Monday morning. Kent State partnered with EY, formerly known as Ernst & Young, a professional accounting firm to conduct a study of the economic and fiscal impact Kent State contributes.

Some Kent State graduates remained in the Northeast Ohio area — 38 percent — and earned $2.4 billion more than a worker whose highest education is a high school diploma.

President Beverly Warren said the study showed the influence on the lives across the Northeast Ohio region.

“We know that Kent State alumni are primed for successful careers when they graduate,” Warren said. “The fact that so many decide to remain in the region to pursue their passions only elevates the importance of Kent State as an educational and economic anchor for Northeast Ohio.”

The report looked at five components of the university: operations, capital investments, visitor spending, student spending and alumni earnings.

Kent State contributed around 11,800 jobs to the region and more than $550 million in income based on those jobs, according to the report.

EY also said Kent State contributed more than $60 million in state and local taxes.

Kent City Manager Dave Ruller said businesses in the community and the Northeast Ohio region are happy with the numbers presented in the report.

“As great as the financial pieces are, it’s frankly the little things that go on everyday that reflect the greater value of what the university brings to the community,” Ruller said.

The study used data given to EY by Kent State.

“The numbers solidify the understanding that we have that together we are so much stronger,” Warren said. “We know that Kent State University is only as strong as its beautiful city that we consider our home city.”

Gretchen Lasso is reporter for TV2, contact her at [email protected]. Laina Yost is an administration reporter, contact her at [email protected].