President Todd Diacon shared the many ways Kent State improved Ohio’s economy in the latest installment of Talking with Todd.

Talking with Todd occurs monthly, where Diacon discusses a certain topic and then opens the floor for questions from attendees. During the February Talking with Todd, Diacon shared a rough draft of a presentation about Kent State’s economic impact.

The presentation showcased Kent State’s positive contributions to the state economy.

“I’m doing this in part because we know in the general public and particularly amongst some legislators in Columbus and in the nation, there’s a growing belief that higher education is not for everyone,” Diacon said. “And I think some growing assertions that we’re not good stewards of the public’s resources.”

Diacon began the draft of the presentation by showing the combined impact of Kent State’s spending, including purchases, payroll, benefits, employee income taxes and visitor spending.

“If you look at the combined impact, it’s somewhere around $1.4 billion dollars,” Diacon said. “Thirty-three percent of the City of Kent’s income tax revenue comes from Kent State employees.”

Kent State’s impact expands to the state. Ohio provided Kent State with a State Subsidy of Instruction (SSI) of around $150 to $155 million to make up part of Kent State’s $650 million budget.

“For about every dollar of state investment, we leverage about $10 for the state economy,” Diacon said.

Beyond their undergraduate careers, Kent State alumni continue to provide for the Ohio economy and contribute to the community.

“Sixty-three percent of these graduates stay in Ohio, live and work in Ohio, pay taxes in Ohio, serve on our school boards, serve in elected positions and are great citizens,” Diacon said. “And that doesn’t even count the number of out-of-state students who come to Ohio to study at Kent State and then stay in Ohio after they graduate.”

As a whole, Kent State alumni in Ohio pay around $200 million a year in local and state taxes while earning nearly $1.96 billion in annual income.

Diacon ended the draft presentation by discussing Kent State’s R1 research institution status.

Kent State Architecture faculty received a $2.4 million grant for finding ways to improve the design of level 1 trauma rooms.

“That brings resources into the state,” Diacon said. “More importantly, that design work will influence and prove change to the design of trauma rooms for the better for all Ohioans.”

Diacon noted that the final version of the presentation will have examples from the regional campuses as well.

Jocy Holtsberry is a reporter. Contact her at [email protected].

Alexandria Manthey is a TV2 reporter. Contact her at [email protected].