IMPACT OF THE OHIO GEOLOGICAL SURVEY ON THE OHIO ECONOMY

State geological surveys contribute considerable benefits to a state’s economy. The Ohio Department of Natural Resources, Division of Geological Survey (Survey) contracted Kleinhenz & Associates, a Cleveland-based economic and business consulting firm, to conduct an economic impact analysis on the products, information, services, and expenditures provided by and associated with the Survey, examining how it benefits industry, government agencies, the academic community, and Ohio citizens. The analysis included a public online survey, as well as roundtable discussions and one-on-one interviews with industry experts and a wide spectrum of constituents. According to the analysis, in 2010 the Survey provided to the state’s economy a minimum benefit equaling $575 million dollars. More than 8,700 projects utilized items provided by the Survey, saving an average of $65,800 per project in costs that otherwise would be needed to cover additional information gathering or research. Online survey respondents appreciated having quality information before beginning projects and reported that information obtained from the Survey ascribed to avoiding costly mistakes on average of $139,442 per project. The analysis further details how Survey products and expertise are utilized by oil-and-gas exploration firms, mining companies, government agencies, university researchers, K–12 educators, and environmental and geotechnical firms. For instance, online survey respondents representing the oil-and-gas industry reported an average of 13.6 percent of project costs would be attributable to obtaining geologic information if it were not available through the Survey, saving the industry $10.5M per year. The first of its kind, this economic impact analysis numerically establishes the vital benefit that a state geological survey has on a state’s economy.