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By: Amy Charles | March 17, 2025
The University of Pikeville (UPIKE) continues to be a vital contributor to Kentucky’s economy, generating a total economic impact of $128.4 million for the Fiscal Year 2021-22. This finding, from a comprehensive study commissioned by the Association of Independent Kentucky Colleges and Universities (AIKCU), highlights the significant role UPIKE plays in bolstering the local and regional economy.
AIKCU explains economic impact as the combination of direct and induced spending. UPIKE’s direct spending by the university, its employees, students and visitors totaled $97.2 million. Induced spending amounted to $31.2 million and included university purchases and investment spending. The university’s economic footprint supported the creation of 1,378 jobs within the region, further contributing to Kentucky’s workforce and overall prosperity.
As a member of AIKCU, UPIKE’s continued success underscores the value of independent higher education institutions in the state’s economy for sustaining a thriving community and ensuring future growth. UPIKE President Burton Webb, Ph.D., is proud to be an important part of the economic fabric of Kentucky, creating a ripple effect felt far beyond the classroom.
“Independent colleges and universities are engines of the economy. Students tend to stay where they go to school, so by giving students the tools they need to be successful, we can lean into growing a new economy,” said Webb. “The fact that UPIKE contributes more than $128 million in economic activity to the Commonwealth is unsurprising, and we hope to do even more. The development of the Tanner College of Dental Medicine, the expansion of the Kentucky College of Osteopathic Medicine, the birth of Bear Mountain, and the construction of the Sachdeva Research and Entrepreneurship Incubator will each add to this total.”
The study was conducted by Mark Paul Gius, Ph.D., Professor of Economics at Quinnipiac University, and is part of a broader effort by AIKCU to demonstrate the essential contributions of Kentucky’s independent colleges and universities, which together contribute $2.06 billion to the state’s economy. The full Economic Impact Study reflects the ongoing importance of independent institutions in Kentucky, both as educational powerhouses and economic engines.
For more information about UPIKE, please visit upike.edu.