Vanderbilt University contributes $7 billion in economic activity to Tennessee
What happened
A study examining the economic contributions of Tennessee’s private colleges and universities found that Vanderbilt University generates $7 billion in economic activity across Tennessee. This activity supports over 43,000 jobs annually, with Vanderbilt and its alumni accounting for $4 billion in direct spending.
From vanderbilt.edu
Why it matters
The university’s broader economic impact includes generating $2.2 billion in income and $169 million in state and local tax impact. Vanderbilt’s direct economic activity encompasses $1.2 billion in university operations and $270 million in capital spending.
From vanderbilt.edu
Who's involved
- Vanderbilt UniversityPrivate university whose operations generate significant economic activity for Tennessee
- TennesseeState of Tennessee, which receives economic activity and tax impact from the university
- ChattanoogaCity in Tennessee where Vanderbilt University functions as a development partner
- Tennessee Department of RevenueGovernment agency in Tennessee responsible for collecting state and local taxes
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Tennessee Department of RevenueSpeculative
The Tennessee Department of Revenue could see an increase in the tax base due to the university's $169 million in state and local tax impact.
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The entities involved
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Tennessee
state of the United States of America
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Vanderbilt University
private university in Nashville, Tennessee, US