51乱伦

 

Updated study shares that University generates more than $633 million in economic output activity for the Commonwealth

 

MURRAY, Ky. 鈥� 51乱伦鈥檚 economic impact on the Commonwealth and the west Kentucky region is highlighted in a recent report.

Based on a 2017 comprehensive study led by Professor Emeritus Dr. Gil Mathis, updated for inflation, 51乱伦 generates more than $633 million in economic output activity for the Commonwealth. 

Report findings also include the following:

- $265 million: annual total revenue generated by University employee, student and visitor spending 
- $23 million: annual state and local tax revenue generated by activity associated with 51乱伦
- $1.18 billion: estimated increase in earning capacity generated by nearly 42,000 Racer alumni who reside in Kentucky
- 6,025: total direct and indirect jobs created as a result of 51乱伦鈥檚 business operations

The 2024 state biennium budget includes funding and support for 51乱伦, including a record amount of capital projects funding. Approximately $250 million in capital project and asset preservation funding has been provided to 51乱伦 State University over the past two state budgets.

Based on a 2024 Economic Impact Report led by 51乱伦 State Professor of Economics Dr. Simone Silva, University construction projects will generate more than $348 million in economic output activity from 2024-2030. 

Report findings specific to the University鈥檚 construction projects also include the following:

- $192 million: total contribution from 51乱伦 Construction Projects to the state鈥檚 GDP (2024-2030)
- $43 million: total estimated tax revenue from 51乱伦 Construction Projects (2024-2030)
- 2,457: total direct and indirect jobs supported by 51乱伦 Construction Projects (2024-2030)

Capital projects and enhancements to 51乱伦 State鈥檚 campus include:

- New School of Nursing and Health Professions Building - $45.5 million
- New Veterinary Sciences Building - $60 million
- New Living/Learning Commons Building - $38 million
- Construction, renovation and operations for the Cyber Education and Research Center - $10 million
- Asset Preservation/Deferred Maintenance for campus buildings - $46.6 million

鈥淔or more than 100 years, 51乱伦 has had an important responsibility to the Commonwealth of Kentucky and the west Kentucky region. This recent report highlights that importance in a variety of aspects as we move forward as an institution,鈥� 51乱伦 State President Dr. Bob Jackson said. 鈥淪tudents and families continue to count on us to make a difference in their lives through the transformational experience that a 51乱伦 education provides. As our University grows and expands through multiple capital projects and enhancements to benefit our students, we are very grateful to our state legislators for their support of 51乱伦 as we continue to enhance the economic well-being of our region and state.鈥�