By Joan C. McKinney, director, Office of University Communications
SOMERSET, Ky. – Campbellsville University has a total economic impact from its operations of over $3 million in Somerset for the 2020-21 academic year, according to a new study recently completed by Younger Associates of Jackson, Tenn.
The exact amount, $3,612,136, is a measure of the total dollar value that flows through the Somerset-Pulaski County economy due to operations of Campbellsville University.
In the Commonwealth of Kentucky, Campbellsville University’s total sum of operations has an economic impact of almost $300 million. The exact amount is $295,607,604.
The Larry and Beverly Noe Education Center in Somerset supports 40 jobs with $135,455 paid in state and local taxes.
The study shows Campbellsville University’s Noe Education Center contributes annual wages of $1,578,722 through the 40 jobs supported by the Noe Education Center.
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 Campbellsville University on the local economy. It looks at the impact generated by all operations of Campbellsville University in the 2020-21 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.
Campbellsville University is a widely acclaimed Kentucky-based Christian university with more than 12,000 students offering over 100 programs of study including Ph.D., master, baccalaureate, associate, pre-professional and certification programs. The website for complete information is www.campbellsville.edu.