Rocket Nation Recovery Part 56 – In September 2023, the Part 11 post highlighted the negative economic impact the UToledo enrollment, financial and morale crisis is having on the Northwest Ohio business community. https://rocketnetworker.com/2023/10/07/rocket-nation-sadness-part-11/
Yesterday, another small business by campus closed their door – – Pollyeyes. https://www.wtol.com/video/money/business/campus-pollyeyes-in-toledo-closing-after-4-years/512-e1206b7c-820d-4b69-8e07-9826b241e8a9
Post 11 highlighted a 2017, UToledo Economic Impact Report. The report stated that in 2017 20,381 students contributed $340 Million to Toledo area businesses. That’s an average of $16,682 per student.
https://lnkd.in/gbvFCwZ5
Post 11 posed the following questions:
- 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?
If it’s true that Fall 2024 total enrollment is forecast to be below 13,000 does that mean local business owners will see another $33,364,000 decline in revenue over the next 12-months? To gain perspective, at $15 that’s 2,224,266 pizzas!
Are any local politicians engaged with UT trustees to bring an end to the enrollment, financial and morale disaster? If you were a local politician what would you do?
If you were a trustee preparing for tonight’s emergency board meeting, how confident are you that UT leaders know how to address enrollment, financial, and morale disaster? Are you so confident that you are willing to place your own money and reputation on the line in addition to the livelihoods of 5,000 UT employees?
It’s ok to feel uncomfortable in a crisis. Please pray for thoughtful, compassionate accountability and urgent actions to revitalize The Rocket Nation.
