New study reveals Liberty University generates $1B-plus in economic activity
Large private university is Hill City's largest employer
LYNCHBURG, Va. – A new study find that Liberty University generates more than $1 billion in economic activity per year.
The report found that the large private university is the Hill City's largest employer, providing jobs for 6,797 individuals in the region and more than 9,210 worldwide.
Across the commonwealth, students, visitors and associated enterprises spent $712 million, which is an economic impact of more than $1.3 billion.
This impact included nearly $106 million in tax revenue, over $546 million in labor income and supporting more than 13,000 jobs.
"We're making this amazing impact not only to the region economy, but to the state economy as well. We're very excited about these numbers. As you know Lynchburg continues to grow. Liberty University is also growing with it," Jonathan Whitt, the director of Liberty University outreach and business engagement, said.
The report also suggest that Liberty has a big impact on local tourism with $15 million spent on hotel visits. The university's contribution to the region also included nearly $3 million worth of volunteer service hours.
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