In a survey released this morning by Scioto Analysis, 11 of 14 economists agreed that reducing the number of universities in Ohio would reduce long-term economic output in the state.
Earlier this year, candidate for Ohio governor Vivek Ramaswamy proposed shutting down some public colleges and universities in Ohio if he believes they are subpar. Over the past decade, enrollment at Ohio’s public universities has declined by 14%. According to data from the United States Census Bureau, Ohio has an aging population, and more students are turning away from college due to financial reasons.
11 of 14 economists agreed that reducing the number of universities in Ohio would reduce long-run economic output in the state. According to Albert Sumell of Youngstown State University, “A number of economic studies have shown the biggest determinant of long term economic growth is the percentage of the population with a bachelor's degree - which is directly related to the number of universities.” The remaining 3 economists were unsure of the impact of public college closure on long-run economic output in Ohio.
Economists were perfectly split on whether reducing the number of universities in Ohio would generate savings for the state of Ohio, with 6 economists agreeing, 6 economists disagreeing, and 2 economists uncertain. According to David Brasington of the University of Cincinnati, “There would be direct cost savings, but only about 6% of the state's general revenue fund currently goes to higher ed anyway.” The economists who disagreed explained that closing public universities in Ohio is short-sighted, and while it may generate savings in the short-run, it doesn’t address the long-term issues with higher education in Ohio.
12 of 14 economists agreed that reducing the number of universities in Ohio would reduce Ohio’s bachelor degree attainment rate. Kevin Egan of the University of Toledo explains, “80% of the Univ. of Toledo students live off campus and commute to UToledo. This is similarly true for many of the Ohio public universities. Closing any one of them will decrease the local cheaper public university option and some will not attend college.” The remaining 2 economists were unsure of the impact of public college closure on bachelor degree attainment in Ohio.
The Ohio Economic Experts Panel is a panel of over 30 Ohio Economists from over 30 Ohio higher educational institutions conducted by Scioto Analysis. The goal of the Ohio Economic Experts Panel is to promote better policy outcomes by providing policymakers, policy influencers, and the public with the informed opinions of Ohio’s leading economists. Individual responses to all surveys can be found here.
