Bellarmine University has a significant economic impact on Louisville and the surrounding region, with a total economic contribution of $177.7 million annually. This figure,
from a report released by the Association of Independent Kentucky Colleges and
Universities (AIKCU), encompasses both direct and induced economic effects stemming from the university's operations.
Direct spending by the university, its employees, students and visitors amounts to $102.5 million. Notably, student spending alone contributes $32.5 million to the local economy. The university’s induced economic impact, which reflects the additional
employment and expenditures generated in local industries by direct spending, is estimated at $75.1 million.
The economic activity Bellarmine University generates supports approximately 1,485 jobs in the region, underscoring the institution's role as a vital economic engine. This impact aligns with the university's strategic plan,
Tradition and Transformation,
which emphasizes community engagement and local partnerships as key priorities.
Bellarmine's
Center for Community Engagement plays a crucial role in fostering those partnerships and initiatives that benefit both students and the local community. Through various programs and outreach efforts, the center enhances the university's commitment
to service and collaboration, further amplifying its economic contributions.
“Bellarmine’s impact on Louisville and the surrounding region is largely measured through the contributions of Bellarmine’s graduates to the region’s workforce and through the research and service work of its talented faculty and
staff,” said Dr. Susan M. Donovan, Bellarmine’s president. “This report is a reminder that Louisville’s and Kentucky's economies benefit substantially from Bellarmine’s presence through local spending, direct employment, and additional
jobs created through induced spending.”
AIKCU commissioned the study from Mark Paul Gius, Ph.D., professor of economics at Quinnipiac University in Hamden, Conn.
"These numbers reinforce our long-held belief that the investment in state aid for students attending independent colleges and universities represents one of the best rates of return on investment for the commonwealth," said Mason Dyer, AIKCU president.
To see the full AIKCU report and its methodology,
click here.