Newspaper article THE JOURNAL RECORD

Colleges Provide OKC $142 Million Annually

Newspaper article THE JOURNAL RECORD

Colleges Provide OKC $142 Million Annually

Article excerpt

Higher education plays a major role in the export sector of the state's economy as it attracts over $142 million in outside funding per year in the Oklahoma City metropolitan area alone, according to a study released Friday.

The study, which included a breakdown of 26 higher education institutions in Oklahoma, is the second part released of a study which showed the economic impact of the institutions on the entire state.

Objectives of the study were to estimate rate of return on taxes invested in higher education, revenues brought in from out of state, and income and jobs created by institutions both directly and indirectly.

The study "focuses on how large an industry higher education really is," said Dr. Kent Olson, economics professor from Oklahoma State University in Stillwater. Olson was among those who conducted research for the study, which began in the summer of 1994.

Higher education "plays a major role in the export sector of the economy in Oklahoma," Olson said.

According to the study, higher education institutions in the Oklahoma City metropolitan area attracted $142.5 million of out-of-state revenues in 1992-93. The two areas these funds come from are research and student aid. That also includes nonresident student spending.

Those institutions included in the metropolitan area are the University of Oklahoma, Norman; University of Central Oklahoma, Edmond; Oklahoma City Community College, Oklahoma City; Redlands Community College, El Reno; and Rose State College, Midwest City.

OU led the state with $112.59 million collected in out-of-state revenues. That was 79 percent of the out-of-state revenues from the institutions in the metropolitan area.

OSU had $73.2 million in out-of-state revenues in 1992-93. Oklahoma higher institutions attracted a total of $306.9 million in out-of-state revenues during the period. …

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