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Vanderbilt’s $8.6 Billion Impact on State
Posted By wisen On June 14, 2013 @ 4:50 pm In Inside Owen,Spring 2013 | No Comments
A recent independent economic analysis has found that Vanderbilt University had an $8.6 billion impact on the Tennessee state economy during fiscal year 2011-12.
Among the factors measured were Vanderbilt’s direct spending on operations and construction, spending by students and visitors, and spending by businesses as a result of Vanderbilt’s presence in the state.
The analysis, prepared by Austin, Texas-based TXP Inc., reported that Vanderbilt, the second largest private employer in Tennessee, generated an economic impact of $8.6 billion for the fiscal year ending June 30, 2012.
The TXP report said that the impact potentially exceeds the calculations, since a university’s economic impact extends well beyond the traditional workplace due in part to factors not easily quantifiable such as “a highly capable workforce, innovation and entrepreneurship, clusters in knowledge industries, and superior quality of life.”
Article printed from Vanderbilt Business: http://www.vanderbilt.edu/magazines/vanderbilt-business
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