CAMPBELLSVILLE, Ky. — Campbellsville University has a total economic impact from its operations on the main campus and in her Louisville, Harrodsburg and Somerset regional centers of almost $200 million for the fiscal year ending June 30, 2019, according to a new study recently completed by Younger Associates of Jackson, Tenn.
The $199,868,340 is a measure of the total dollar value that flows through the operations of Campbellsville University and three of her eight centers and instructional sites across Kentucky.
Campbellsville University, and her regional centers, according to Dr. Michael V. Carter, president, operates economic impact from ongoing operations, related activities and investments in capital improvement projects. Economic impact is also generated by student and visitor spending in the local economy.
Carter, who is in his 21st year as president of the private institution in south-central Kentucky, said Campbellsville University is pleased to be a major contributor to city and county governments, school systems and certain special districts.
Carter said Campbellsville University is “very fortunate to be in communities where education, including postsecondary education, is valued.”
The survey includes information from Campbellsville University’s main campus and centers in Louisville, Harrodsburg and Somerset, Ky.
“We are all aware that there is a direct correlation between the educational attainment of a community and the economic health and competitiveness of a community,” Carter said. “Campbellsville University remains dedicated to providing affordable and excellent higher education, and we are working with local officials, our school districts, Chamber of Commerce and Economic Development Authority, and others to provide additional postsecondary educational opportunities for more citizens.”
Carter said Campbellsville University’s commitment to student affordability is further evidenced by the more than $65 million in total financial aid provided by the university to all students enrolled during the past year.
Carter said Campbellsville University is “grateful for the excellent relations we have with this community and region, and we seek to serve the larger community as we move forward in our goal to become a national premier Christian university.”
Thus, the long-term economic impact of CU is a significant boost to the local economy beyond the impact created by current operations and capital investment, Carter said.
“A part of our stewardship is to have a positive and growing positive economic, faith, social and quality of life impact on students and our communities in which we have educational institutions,” Carter said.
The economic impact study is measured in terms of dollar value of total economic output, jobs, wages and local tax revenues generated as a result of the business activities related to the operations of Campbellsville University.
Younger Associates has completed hundreds of economic impact studies across the United States for the past 30 years. The firm’s methodology is recognized by, and utilized in, courses at the Economic Development Institute of the International Economic Development Council.
The purpose of the study is to quantify the economic impact of the Campbellsville University on the local economy in Campbellsville, Louisville, Harrodsburg and Somerset. It looks at the impact generated by all operations of the University in the 2018-19 academic year.
The impact comes from CU’s ongoing operations, related activities and investments in capital improvement projects and generated by student and visitor spending in the local economy.