Union Commonwealth University’s economic impact on the local and state economy totals $34.4 million, according to a new report released by the Association of Independent Kentucky Colleges and Universities (AIKCU). The report highlights the significant financial contribution of Kentucky’s 18 independent, nonprofit colleges and universities for Fiscal Year 2021-22.

The breakdown of Union’s direct spending includes:

• $9 million in spending by employees
• $10.3 million in spending by students
• $303,782 in spending by visitors
• $8.8 million in university purchases
• $1.1 million in university investments

The university’s economic footprint has also helped create 240 jobs within the region.

“We are proud of the positive role Union plays in the economic growth of our region and the Commonwealth,” said DJ Washington, President of Union Commonwealth University. “This report highlights the value of our university’s contributions and reinforces the importance of investing in higher education, which benefits not only our students but also the region as a whole.”

Union Commonwealth University is part of a larger group of institutions that contribute $2.06 billion to Kentucky’s economy. Collectively, AIKCU’s 18 member institutions serve more than 59,000 students and award one in five of Kentucky’s bachelor’s degrees.

“While these institutions are widely recognized for contributing to the well-being of their communities, these numbers reinforce our long-held belief that the investment in state aid for students attending independent colleges and universities represent one of the best rates of return on investment for the commonwealth,” said Mason Dyer, AIKCU President.

For more information, view the full report here.