JACKSON, Tenn. – Oct. 17, 2007– Union University’s total economic impact across West Tennessee was $126.9 million last year and supported more than 1,300 local jobs, according to a study conducted by Younger Associates of Jackson, Tenn.
“Union University is a remarkable story of stability, longevity and growth in West Tennessee,” said Sharon Younger of Younger Associates. “Union’s footprint in the community has always been meaningful, but now we are seeing a significant increase in economic impact and success.”
A similar study was completed in 1997. At that time, Union’s annual economic impact was $53.7 million. Compared to this study’s results, Union’s economic impact has grown by more than 136 percent to a total annual impact of $126.9 million.
Over this same 10-year period, Union University has experienced unprecedented growth in every sector of university life. Enrollment has increased more than 67 percent to a record 3,310 this fall. The annual budget has increased more than 150 percent to a record of $55.6 million for 2007-2008.
Union is at the midpoint of a strategic plan, Union 2010, which calls for aggressive expansion in academic programming and campus development. This is being funded through a $110 million comprehensive campaign that has reached the $95 million mark in commitments.
“Union University is truly a distinctive place,” Union President David S. Dockery said. “We enjoy a relationship with our West Tennessee community that is incredibly affirming. To read a report like this one quantifying Union’s investment in the local economy is heartening.
“West Tennessee has helped build Union University for almost 185 years,” Dockery continued. “We are thankful that as we grow, we can help support change and economic growth for the rest of our community.”