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| Ever wondered what kind of economic impact has on the eight-countyColumbus metro area?A big one, say <a href={url}>{keyword}</a> campus officials today. Nearly $162 million big, to be exact. That'sbased on an analysis of earnings, employment and output using 2011-12 data done by economistBill LaFayette, who used to work for the Columbus Chamber of Commerce.That's big enough, in fact, to increase household income and business earnings by $56million and create or sustain nearly 1,500 jobs, according to a news release from th <a href={url}>{keyword}</a> euniversity. And of the total, $157.7 million was generated by ongoing operation, whichif it remains the same could reach $1 billion within six years, officials say."This report underscores the critical importance of Capital's mission 鈥?transforming livesthrough higher education 鈥?and its impact on our community, our economy and society.鈥?CapitalUniversity President Denvy A. Bowman said. 鈥淚n fulfilling our promise to create a more educated andengaged citizenry, we help our economy thrive and improve the quality of life in Columbus and farbeyond.鈥漁ther highlights of the report:The university contributes to economic vitality by employing more than 700 people and spending$76.7 million per year in operational costs. Of those payments, 71 percent or $56.4 million weremade to Columbus-metro businesses and residents.Of its $56.4 million operational spending within the metro area, $7.4 million was paidto entities within Capital鈥檚 main postal code: 43209. That includes $6.15 million inwages and salaries and $1.25 million to suppliers.Last year, Capital paid a total of $739,686 in payroll and property taxes to Bexley. Employees,including students, contributed most of that tax revenue through payroll taxes totaling $574,116.Capital paid an additional $165,570 in property taxes to Bexley.Capital spent an additional $ <a href={url}>{keyword}</a> 2.7 million in 2011-2012 on long-term construction projects; 70percent of those payments were made to local suppliers.The report does not include impacts made by students from outside the area or who stay inthe region after graduating, officials say.
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