Edison Centers Have $1.2 Billion Economic Impact

Ohio's Edison Technology Centers generated a direct economic impact for Ohio of more than $730 million from 1992 to 1995, according to a new study prepared by Battelle Memorial Institute for the Edison Centers. The seven Edison Centers are non-profit organizations that combine state, industry and academic resources to solve industrial problems and develop new technologies.

When the impacts were traced through the economy and a multiplier was applied, the total impact on the gross state product was $1.27 billion. Battelle arrived at its results by applying its proprietary econometric model of the Ohio economy to economic data collected by the Edison Centers.

State funding during that time for the Edison Centers totaled approximately $70 million.

Along with estimating the total economic impact of the Edison Centers, the Battelle study found that the Edison Centers have:

• Enhanced the financial performance and competitive position of Ohio companies by saving them an estimated $168 million
• Provided assistance that enabled Ohio companies to create or retain 5,600 jobs, which represent a boost in personal income of about $169 million
• Increased sales at companies by more than $110 million
• Worked with clients and other state organizations to bring more than $150 million in funding into Ohio

For more information or to obtain a copy of the study, contact Mary Duchi at Battelle at 614/424-5021 or duchi@battelle.org