Wednesday, May 19, 2010

Study: UT system brings in $2.5B

KNOXVILLE — A study by the University of Tennessee shows that its campuses bring in at least $2.5 billion annually in income to the state and support more than 53,600 jobs.
The study by the Center for Business and Economic Research at UT Knoxville also found that the university generates an estimated $237.6 million in state and local tax revenue.

Data from fiscal year 2008 was analyzed to estimate the economic impact of the UT system overall and the campuses in Knoxville, Martin, Chattanooga, the Health Science Center in Memphis and the Space Institute in Tullahoma.

Students and visitors attending athletic events at each campus spent about $348 million, accounting for $147.3 million in income and 4,879 jobs.

The study did not include visitors attending non-athletic events.

For the individual campuses:

• UT Knoxville: Economic impact: $950.2 million. Jobs created: 23,055.

• UT Health Science Center: Economic impact: $761.2 million. Jobs created: 12,433.

• UT Chattanooga: Economic impact: $205 million. Jobs created: 5,232.

• UT Martin: Economic impact: $138.5 million. Jobs created: 3,844.

• UT Space Institute: Economic impact: $19.3 million. Jobs created: 362.



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