Tennessee has reaped enormous social and economic benefits from Vanderbilt University and Medical Center. These gains manifest themselves in a number of ways. First, direct Vanderbilt spending on capital, faculty, staff and general procurement ripples through the local and state economies. Second, off-campus student spending and out-of-town visitors drawn to the area because of Vanderbilt inject additional money into local businesses. Vanderbilt also plays an important role in economic development, in terms of providing labor force, commercialization of academic research, and influencing the revitalization of parts of the community through the built environment (such as the Vanderbilt Health at One Hundred Oaks development). Finally, students, faculty and staff of Vanderbilt provide thousands of hours of community service each year, enhancing health, literacy, education, culture and overall quality of life in the region. Read press release »
This independent economic analysis prepared by Austin, Texas-based TXP, Inc., examines and provides details on Vanderbilt's impact on the state of Tennessee.
William H. Frist
Former Majority Leader, U.S. Senate
Vanderbilt's impact on the economy is even more robust than the numbers. As the foundry for knowledge and talent, Vanderbilt is the best ecosystem for innovation, a connector to the international economy, a source of entrepreneurial energy, and a job creator for the region.
President and CEO, Nashville Chamber of Commerce
Vanderbilt has been a historical and significant partner of the Nashville Area Chamber and made numerous economic contributions to this area and the state with the jobs they have created directly and indirectly as well as help attract.
Vanderbilt is a centerpiece of economic vitality not just for this region but for the entire state. It's contribution to education, research and development, healthcare and entrepreneurship help foster a welcoming business environment and growth opportunities.
CEO of TriStar Energy
The partnerships that Vanderbilt has across the state benefit our communities, particularly as the medical center delivers quality healthcare to our most vulnerable populations. We operate in many of those areas and hear daily about the amazing things the hospital does for our customers. We feel strongly about the impact of the medical center, and as a result many of our employees volunteer at the Monroe Carell Jr. Children’s Hospital at Vanderbilt. Vanderbilt's contributions through its partnerships, curriculum, medical research and development help drive the vitality of our state's economy and quality of life by enhancing by health, literacy, education, and culture.
Tennessee President, Bank of America
As an alumnus and lifelong supporter of Vanderbilt, my involvement throughout the years has provided an opportunity for me to see firsthand the breadth and value of the university and the medical center. Vanderbilt has so many facets, which makes it a gem not only locally, but regionally, nationally and even internationally. It’s contribution to the community and economy are vital to our state from education to healthcare discovery and treatment.
CEO of Dollar General
As a preeminent research university and medical center, Vanderbilt delivers tremendous advantages to our local economy and beyond as an employer, a trainer of business leaders and medical professionals, many of whom stay in Tennessee post-graduation, and as an exceptional ambassador for all that Tennessee has to offer. Vanderbilt's focus on helping businesses innovate and grow through research and workforce development creates significant benefits for all Tennesseans.
Alumnus, President and Founder, Marketstreet Management Co.
As an alumnus of Vanderbilt University, the education I received provided a foundation for my success as an entrepreneur and as a civic partner, I have experienced Vanderbilt's commitment and contribution to our community. Vanderbilt's role in our region's economic development is vital to our community. The university and medical center help create jobs, influence the revitalization of parts of the community and drive research and development. I look forward to the future as our community continues to grow and we create opportunities for entrepreneurship and development.
Karl F. Dean
Mayor, Metropolitan Government of Nashville and Davidson County
As the largest employer and largest university in Davidson County, Vanderbilt attracts thousands of bright minds from around the globe to work and to study in our city — many of whom stay and make Nashville their permanent home. Human capital is going to be the determining factor in which cities are most successful in the 21st century. Nashville is extremely fortunate to have a powerhouse research university and medical institution like Vanderbilt.
President, Tennessee Chamber of Commerce and Industry
The overall economic and societal impact of Vanderbilt University is truly staggering. The depth of their impact saturates not only middle Tennessee and Tennessee's rural communities, but indeed regions throughout the state. These areas of impact are diverse, ranging from healthcare to education and true workforce and economic development.
The Tennessee Chamber of Commerce and Industry is not only honored to have Vanderbilt as an investor in the State Chamber, but is also proud to call Vanderbilt a cohesive and influential stakeholder in our statewide economy. We look forward to continuing to partner with Vanderbilt to help keep Tennessee's quality of life high and economic future prosperous.
Michael R. Burcham
President and CEO, Nashville Entrepreneur Center
Senior Lecturer of Entrepreneurship, Owen Graduate School of Management
Vanderbilt is a major catalyst to the Nashville (and Tennessee's economy). From the significance of the research, to the entrepreneurial graduates who have launched dozens of companies in the local, state and national landscape—it's easy to see the contribution of the institution in our market.
Former U.S. Congressman
As a former Chairman of the House of Representatives' Science and Technology Committee, I know firsthand the impact research has on the state and the country is critical. As a top tier national research institution, Vanderbilt University advances science and math education, promotes scientific and medical research and spurs advancements that help improve Tennessee's economic competitiveness, which translates into good jobs in the region.
As this external analysis notes, Vanderbilt is the second largest employer based in the state. The emphasis the university places on research and development is essential to our continued growth.
Chairman of the National Academy of Engineering and retired Chairman and CEO of DuPont
As a native Tennessean, the historical contribution of Vanderbilt University and the Medical Center is significant to the vitality of our state's economic growth. Research universities like Vanderbilt help enhance our community and support job creation, entrepreneurship, research and development. Without Vanderbilt as a research and innovation leader in the state, Tennessee's economic growth would be markedly different.
Paul J Ballard
Chief Executive Officer, Nashville MTA and Regional Transportation Authority
Vanderbilt has always been first in line to help with important public projects in Nashville and Middle Tennessee. The university was the first to participate in MTA's EasyRide Program. This approach has now been expanded to Memphis, in addition to all the state employees in Nashville. More recently, Vanderbilt has been providing financial support to the Transit Alliance, an organization of business leaders who support public transportation improvements in Middle Tennessee
More news on Vanderbilt in Tennessee
- Football team honored with state resolutionMarch 28, 2014
- Gov. Bill Haslam announces state to partner with Vanderbilt to train school leadersOctober 29, 2013
- Op-ed: Prekindergarten research can help chart best way to help impoverished kidsAugust 9, 2013
- End of Judicial Nominating Commission won’t delay Holder’s replacementJune 27, 2013
- Consumer taste for high altitude beans shifts opportunity to small farmersApril 29, 2013
- Understanding cultural motivations in the Boston Marathon bombingsApril 22, 2013
- Prosthetic limb advances could help victims of the Boston Marathon bombingsApril 19, 2013
- Vanderbilt Guatemalan field station new interdisciplinary hubApril 18, 2013
- Vanderbilt featured in Princeton Review’s guide to ‘green’ collegesApril 17, 2013
- Vanderbilt Executive MBA programs to host panel on global businessApril 16, 2013
- TVA privatization might benefit consumers, expert saysApril 15, 2013
- Regulatory failure leads to risks, expert saysApril 11, 2013
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