Study shows Campbellsville University has economic impact of over $19 million in Harrodsburg; nearly $300 million in Kentucky
Harrodsburg, KY (12/16/2021) — According to a study completed by Younger Associates of Jackson, Tenn., Campbellsville University's Conover Education Center in Harrodsburg has a total economic impact of $19,451,832 for the 2020-21 academic year.
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 study analyzes economic activity measured in terms of dollars flowing through the local economy, jobs, wages and tax revenues generated as a result of all business activities related to the operations of Campbellsville University.
"The CU center in Harrodsburg/Mercer County has stimulated many to continue to improve their future and that of their families by providing educational opportunities, which have not been available," Harvey Mitchell, co-owner and president of Kentucky Prime Realty, said. "Of course, the economic impact to the local economy is noted and extremely important, but most significant to our area is the long term opportunities it will add to many families.
"CU has been a great addition to our community and central Kentucky. They have operated with professionalism and passion for our community. Great things are ahead for our area because of CU. It is a blessing to have them here."
CU Harrodsburg supports a total of 155 jobs and contributes annual wages of $7,336,777 in Harrodsburg and Mercer County.
The Conover Education Center paid $629,817 in state and local taxes in the 2020-21 academic year.
"We are thrilled to have CU Harrodsburg, the Skilled Training Center, and now the School of Chiropractic in our county," Jill Cutler, executive director of the Mercer County Chamber of Commerce, said. "This is our Mercer Chamber of Commerce key workforce solution for both certificate and professional programming. We could not ask for better partners for our community."
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.