Rocket Nation Sadness Part 11 – thank you to the local business owners around UToledo for your messages. The short answer is, no. I had not thought about the economic impact that the UToledo enrollment and financial crisis is having on local businesses. Thank you for bringing it to my attention.
Really love the questions that you are asking! How many:
• Pizzas are consumed by college students during one school year?
• T-shirts, hats and memorabilia are purchased?
• Apartments, condos and houses are rented?
• Flat tires repaired and oil changes?
• Hotel room nights for parents, family and friends visiting?
• Grocery and clothing store visits?
• And other living related expenses?
In 2017, UToledo published an Economic Impact Report. The report states that in 2017 20,381 students contributed $340 Million to Toledo area businesses. That’s an average of $16,682 per student.
If total enrollment for Fall 2023 ends up at 13,900 – – does that mean that students will spend $108 Million less than six years ago with Toledo area businesses?
When compared to Fall 2022 enrollment at 15,603 does that mean that students will spend $28.4 Million less than a year ago? To gain perspective, that’s 1.9 Million pizzas at $15 each. How bad will it be next year? How many jobs have been lost over the past ten years to UToledo’s enrollment and financial crisis?
Are local politicians aware of this? Is it possible that Toledo City Council Members, The Mayor, County Commissioners, members of state and federal legislatures have been misled about the economic impact of the enrollment and financial decline? How are UToledo senior leaders and trustees partnering with Toledo business owners and politicians to resolve the crisis?
It’s ok to feel uncomfortable in a crisis. Please pray for senior leadership as they begin their fourth year in control of UToledo.
In a few weeks the UToledo Trustees will meet to discuss performance bonuses, the past three years, and the future. Please keep praying for thoughtful, compassionate accountability and urgent actions to revitalize UToledo.do!!
