Page 5 - Kentucky State Univerity - Economic Impact, 2019

Executive Summary: Supply-Side
Supply-Side Economic Impact Analysis
Key Findings: Demand-Side
Based on an analysis of Kentucky State University (KSU), Hanover Research identified the following four areas of significant supply-side economic impact:
Kentucky State provides degree programs closely related to 14 high-growth occupations in Kentucky and enrolls a high proportion of low-income students. Those associated high-growth occupations are projected to create roughly 7,000 new jobs in the state over the next decade. Additionally, 819 Kentucky State students in Fall 2016 received a Pell Grant, equal to roughly two-thirds of all degree seeking undergraduates at Kentucky State.
Kentucky State graduates over the last half decade add an estimated $30 million dollars per year to Kentucky’s economy. Between 2013 and 2017, Kentucky State graduates earned an estimated $27,778,376 more than they would without their Kentucky State education. This calculation excludes alumni who graduated before 2013 and are still in the labor force. Kentucky State also has a number of high profile alumni whose precise economic impact is difficult to quantify, such as the first female Prime Minister of Thailand.
Total research and development (R&D) spending at Kentucky State was $16 million in fiscal year 2017, and Kentucky State expenditures have increased faster than any other university in Kentucky. Including external grants, which span a variety of state and federal agencies, Kentucky State spent over $16 million on R&D in fiscal year 2017. Over the last five years, Kentucky State is the only higher education institution in Kentucky to increase its R & D expenditures.
Athletics programming at KSU accounts for roughly $4 million per year of added value to the local economy. KSU’s athletic programs across nine different sports accounted for nearly $4 million in revenues in fiscal year 2017. Kentucky State also offers numerous additional programming that benefits the local economy but is difficult to quantify, such as its Regional Stewardship & Community Engagement program.
1,926 enrolled students at KSU in 2017
403 degrees conferred from KSU in 2017
48%
of enrolled students at KSU in 2017 were African American
$27,778,376 added annually to Kentucky economy from graduates between 2013 and 2017
$16,113,511 R&D funding
in KSU’s fiscal year 2017
$3,919,014 in sports revenue in KSU’s fiscal year 2017
ECONOMIC IMPACT ANALYSIS 4