A new analysis shows that The Ohio State University generates $15.2 billion annually in economic impact for the state of Ohio – which equates to more than $1.735 million in economic impact every hour.
Ohio State’s research enterprise, medical complex, construction projects, athletics events and status as Ohio’s fourth-largest employer combined in fiscal year 2018 to support more than 123,000 jobs across Ohio. Putting that in context: One in every 57 jobs in the state is directly or indirectly supported or sustained by the university.
Michael Papadakis has been named Ohio State’s senior vice president of business and finance and chief financial officer.
Papadakis served as interim senior vice president and CFO for the past year. He joined the university as vice president and treasurer in 2011.
“Mike has been integral to the university’s financial strength and stability over the past few years,” said President Michael V. Drake. “As CFO, Mike’s primary focus will be on operational excellence and resource stewardship to fuel our academic mission.”
Ohio State used efficiencies, new resources and other initiatives to generate $47.6 million in direct benefits to our students in fiscal 2018, according to the university's progress report on the recommendations of the Ohio Task Force on Affordability and Efficiency in Higher Education.
The task force issued recommendations in 2015 on topics ranging from operational excellence to textbook affordability
Well before 2020, Ohio State has already exceeded the university’s five-year goals for increased student financial aid and new resources generated through innovative partnerships. In addition, the university is on pace to surpass its efficiency goal by fiscal 2020.
Operational excellence and resource stewardship is a key element of the university’s Time and Change strategic plan.
A state performance audit released today recommends next steps in Ohio State’s ongoing work to reduce administrative costs.
The university volunteered for the performance audit as part of its commitment to operational excellence and resource stewardship, a pillar of Ohio State’s strategic plan. In work prior to the performance audit, Ohio State has used efficiency savings and innovative partnerships to fund more than $100 million in new need-based aid for Ohio students.
Ohio State's investment portfolio earned a +7.7 percent net return in fiscal 2018 and grew to a record $5.2 billion.
The market value of the Long-Term Investment Pool grew $958 million in fiscal 2018 while distributing $201.5 million to support student scholarships, faculty positions and other academic priorities.
Ohio State’s portfolio was worth $4.25 billion at the beginning of the fiscal year, ranking it as the 23rd largest college endowment in the country.
After a record-setting year for technology commercialization at Ohio State, fiscal 2019 has started with exciting news for another startup connected to university research.
A global biotechnology company announced today that it is buying Celenex and 10 associated gene-therapy programs for rare disorders for $100 million. Celenex is based on research by Ohio State professor Arthur Burghes and two colleagues at Nationwide Children’s hospital, Drs. Brian Kaspar and Kathrin Meyer.
Through Ohio State’s equity stake in the company, the university expects to net $1.4 million from the transaction. Amicus Therapeutics is the buyer.
Innovative funding Ohio State has extended our relationship with Coca-Cola for another 15 years through a pouring rights contract that supports student initiatives and strategic priorities.
The new pouring rights contract, which has a total projected value of $84.7 million, includes:
$2.25 million for student scholarships $1.88 million for student discovery projects and other educational initiatives Six student internships per year
Ohio State has a 20-year history with Cola-Cola. Through this renewed relationship, Coca-Cola will continue to offer a variety of beverages to the Columbus campus, drawing on its portfolio of more than 800 products, including 250...
Ohio State set a record high in licensing income from technology commercialization and expanded its startup porfolio new highs in fiscal 2018, demonstrating continuing momentum in the Corporate Engagement Office.
“The past year was a banner year for the development of Ohio State research,” said Michael Papadakis, interim senior vice president for Business and Finance and chief financial officer.
The university is launching a new travel initiative that will have short- and long-term benefits, Executive Vice President Provost Bruce A. McPheron and Senior Vice President and CFO Michael Papadakis announced today.
Starting Aug. 1, individuals traveling on university business must book their flights and car rentals through Ohio State’s travel partners. People may continue to directly arrange local flights within countries where booking through outside travel agencies is impractical.
