New economic impact study finds University supports one in every 45 regional jobs and delivers strong returns for students, taxpayers, and Ohio.
STEUBENVILLE, OHIO—Franciscan University of Steubenville added $81.2 million in income to the Ohio Valley economy and supported 1,146 regional jobs during fiscal year 2024-25, according to a new economic impact study conducted by Lightcast.
The University’s economic impact was equivalent to approximately 1.6 percent of the Ohio Valley’s gross regional product, with the activities of Franciscan University and its students supporting one out of every 45 jobs in the region. For purposes of the study, the Ohio Valley includes Jefferson County in Ohio and Brooke and Hancock counties in West Virginia.
“Franciscan University’s first mission is to form men and women in Christ and prepare them to serve God and others through their families, professions, and communities,” said Father Dave Pivonka, TOR, president of Franciscan University. “This study gives us a remarkable glimpse at another dimension of that mission. Franciscan is also an economic anchor for the Ohio Valley—providing jobs, supporting businesses, bringing students and visitors to the region, and sending graduates into the world prepared to contribute and serve.”
The $81.2 million annual economic impact includes:
- $55.2 million from University operations
- $7.6 million from construction spending
- $2.2 million from visitor spending
- $3.9 million from student spending
- $1.6 million from student and employee volunteerism
- $10.7 million from alumni working in the regional economy
Franciscan employed 573 full-time and part-time faculty and staff during FY2024-25, with payroll totaling $50.9 million. The University also spent $37.3 million on expenses related to facilities, supplies, professional services, and other non-construction operations. Together with the additional spending generated by employees and the University throughout the region, Franciscan’s operations produced $55.2 million in added income and supported 654 jobs.
The University also draws significant numbers of students and visitors from outside the Ohio Valley. Approximately 90 percent of Franciscan students came from outside the region during the study year. Spending by those students and by local students who otherwise may have left the region generated $3.9 million in added income and supported 64 jobs. Out-of-region visitors attending commencement, athletic events, conferences, and other University activities generated another $2.2 million and supported 49 more jobs.
The Lightcast study measures the economic impact generated by Franciscan University’s campus activities and does not include additional University-related economic activity outside that scope. One significant example is Franciscan Square, the University’s commercial development along University Boulevard. Scooter’s Coffee, Jamba, Auntie Anne’s, and Cinnabon have all recently opened at the Square, with Buffalo Wild Wings GO scheduled to open September 16. Those businesses bring additional jobs, investment, consumer spending, and commercial activity to the area, meaning Franciscan University’s overall economic impact on the Ohio Valley extends beyond the $81.2 million quantified in the study.
Service With a Measurable Impact
Franciscan students and employees volunteered more than 124,000 hours in the Ohio Valley during FY2024-25. Lightcast valued that service at the equivalent of $4 million in earnings and calculated its economic impact at $1.6 million in added regional income, supporting 59 jobs.
The report notes that those figures capture only one dimension of Franciscan’s service to the community. Through University programs such as Missionary Outreach’s Works of Mercy, and other student-led outreach, Franciscan students serve local residents and nonprofit organizations while developing leadership skills and forming relationships rooted in the University’s Catholic and Franciscan mission.
Among the many ways students serve locally, Works of Mercy volunteers help manage food pantries and distribute meals to low-income residents, lead after-school programs for area youth, and visit residents of care facilities. Students also serve at the St. Anthony Mission House on North Fifth Street, where a porch ministry provides free warm beverages and hospitality to neighborhood youth and residents, and at the Friendship Room, where volunteers help organize the food pantry and assist with facility upkeep.
Benefits for Ohio Taxpayers and Society
Although Franciscan is a private university and received only $661,700 in state government funding during FY2024-25, the study projects significant benefits for Ohio taxpayers.
The study estimates $17.8 million in present-value taxpayer benefits, including $16.8 million in additional tax revenue generated through higher student earnings and increased business output and another $1 million in public-sector savings.
The broader benefits to Ohio society are projected at $233.6 million, including increased student and business income, income generated through University activities, and social savings associated with health care, the justice system, and income assistance.
For every $1 invested in Franciscan University, the study estimates that Ohio society will receive $1.70 in cumulative benefits over the working lives of the FY2024-25 students who remain in the state workforce.
Strong Return for Franciscan Students
The study also examined the financial return students receive from a Franciscan University education.
Franciscan’s FY2024-25 students invested a present value of $70.4 million in their education through tuition and other expenses as well as the income they gave up while attending college. In return, they are projected to receive $174 million in increased earnings over their working lives.
That translates to $2.50 in higher future earnings for every $1 students invest in their Franciscan education, with an average annual rate of return of 10 percent.
The study also found that the average Franciscan bachelor’s degree graduate can expect to earn approximately $29,200 more annually than an Ohio worker with a high school diploma or equivalent. Over a working lifetime, that difference amounts to approximately $1.3 million in additional earnings per graduate.
Lightcast conducted the study using Franciscan University’s FY2024-25 academic and financial data, industry and employment information from the U.S. Bureau of Labor Statistics and U.S. Census Bureau, Lightcast economic modeling, and other published research.
While the study quantifies Franciscan University’s economic contribution, the report emphasizes that the University’s broader impact cannot be captured entirely in financial terms. Franciscan also strengthens communities through volunteer service, principled leadership, community partnerships, and graduates who carry the values of their education into their families, professions, churches, and communities.
