Developing Ohio’s Workforce
An educated workforce benefits everyone.
College degrees are great assets not only for individuals, but also for the communities in which they live. While a single college degree benefits an individual, many college degrees strengthen local and state economies. And communities with more-educated workforces tend to be healthier, wealthier and better able to compete in today’s global economy.
There is a high correlation between regional economic growth and higher-education attainment. That’s because workers with bachelor’s degrees tend to be paid more than high school graduates, and so pay more in local taxes, and spend more within their community and state.
The majority of Ohio’s college graduates – approximately 56 percent – remain in Ohio to build careers, raise families and support their communities. One estimate is that each graduate who has a bachelor’s degree will, during the course of his or her lifetime, contribute about $278,000 more to their local economies than their peers who have only high school degrees, and almost $200,000 more than those who have associate degrees.
Higher wages for college-educated workers tends to push wages higher for workers at all education levels and even leads to higher productivity. Regions with active research universities attract high-tech businesses, entrepreneurs, and private and public spending – creating business clusters that attract even more well-educated workers and fuel economic growth.
