Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Henderson | Lakes | McCracken | Webster
Davis Motor Sales banner ad

Capilouto Talks UK's Impact on Kentucky to Legislative Committee

Capilouto1LEXINGTON, Ky. (11/22/13) – University of Kentucky President Eli Capilouto testified before the General Assembly's Interim Economic Development Committee during their meeting Thursday afternoon, regarding the economic impact UK has on the Commonwealth.

Approximately $284 million is poured into UK from Kentucky annually, said Capilouto during his presentation, which makes up a little more than 10 percent of the university's overall revenue.

“Our capacity to carry out our mission begins with you,” said Capilouto to the committee. “Everything we do here is built upon the $284 million of state appropriations.”

Capilouto highlighted what comes from those state and taxpayer dollars, including a $2.7 billion academic and research enterprise, a $1 billion hospital and Markey Cancer Center, a statewide cooperative extension network, and a self-sustaining collegiate athletics program.

UK is also the largest employer in Lexington and the second largest employer in the Commonwealth, said Capilouto. That's ahead of Toyota, Humana, Ford and G.E. UK employees 12,188 full-time employees, which generates $26.7 million in local payroll tax for Lexington and Fayette County Public Schools along with almost $52 million in state payroll tax revenue.

He added that UK has produced more than 5,000 graduates annually over the past decade, and 6,000 during the 2011-2012 year alone. More than 105,000 UK alumni currently reside in Kentucky. In addition, 86 percent of UK graduates are living in Kentucky five years after their graduation. That includes 52 percent of students UK attracts from out of state.

“We've helped develop a critical concentration of technology, healthcare and education that thrives here in central Kentucky through the partnership of our talented faculty and staff, the resources we are able to attract through collateral businesses and industry, and through the graduates that we prepare,” said Capilouto. “I like to say that the economic engine of Kentucky is wherever a graduate of the University of Kentucky resides and works.”

Capilouto also outlined renovations and new additions to the campus, including residence halls, a $65 million renovation to the Gatton College of Business and Economics, a new academic science building and renovations to Commonwealth Stadium.

He ended the testimony by expressing deep gratitude to the committee.

“I hope you have great pride in what we're doing, because you have a strong hand in it,” said Capilouto. “We are an institution with incredible momentum … It is a lot to be proud of and we are so so grateful for you giving us the opportunity to serve our state in these many ways.”

David Gillum
SurfKY News
Image provided by uky.edu

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

button coupons
button classifieds

Most Read This Week

December 24, 2014 12825

Christmas Eve Bloody Brawl Erupts on Dulin Street

in Local (Hopkins) Top News by Doreen Dennis
December 25, 2014 8952

Gift Returns Done Right

in General News For All Sites by SurfKY News
December 25, 2014 6386

Arrests Made After Dulin Avenue Christmas Eve…

in Local (Hopkins) Top News by Officer C.P. Haynie
December 25, 2014 4678

Crime Stoppers Top Most Wanted - December 25, 2014

in Video by Crime Stoppers
December 23, 2014 4203

Couple's Alleged Dispute over Blanket Leads to…

in Local (Hopkins) Top News by Madisonville Police Department
December 23, 2014 3670

Alleged Theft at Walmart Sends Two to Jail

in Local (Hopkins) Top News by Madisonville Police Department
December 23, 2014 3292

Disturbance Results in Vehicle, Foot Pursuit,…

in Local (Hopkins) Top News by Officer Tyler Russell
December 26, 2014 3254

2014 Looking Back: World Mourns Watson Family…

in Top News For All Sites by Paul McRee, SurfKY News
December 26, 2014 3240

5-Year-Old Boy Kills Buck/Doe

in Local (Muhlenberg) Top News by Randy Adams
December 23, 2014 3084

Hopkins County Grand Jury Indictments

in Local (Hopkins) Top News by Karen McKnight

Stories Trending Today

December 28, 2014 2554

Patriot to Idle Two Mines Tomorrow; 600-700 Jobs…

in Top News For All Sites by Rita Dukes Smith, SurfKY News Director
December 28, 2014 1372

2014 Looking Back: Central City’s Lu Ray Park…

in Top News For All Sites by Paul McRee, SurfKY News
December 28, 2014 1368

Unique New Year's Traditions from across the World

in General News For All Sites by SurfKY News
December 27, 2014 1100

Understand and Avoid Elder Financial Fraud

in General News For All Sites by SurfKY News
December 28, 2014 1051

Five Tips to Get Control of Your Retirement in…

in General News For All Sites by David Taylor
December 28, 2014 876

New Year Brings New Sales

in General News For All Sites by SurfKY News
December 28, 2014 862

Dave Says - Dec. 28, 2014

in General News For All Sites by Dave Ramsey
December 28, 2014 814

Outdoor Truths - Dec. 28, 2014

in General News For All Sites by Gary Miller
December 28, 2014 806

Legislator's Log - Week of Dec. 28, 2014

in General News For All Sites by Brent Yonts
December 28, 2014 751

Lung Cancer Not Always Linked to Smoking

in General News For All Sites by SurfKY News

SurfKY News Group, Inc.
Corporate Office & Studio
1125 Nebo Rd.  •  Madisonville, KY 42431
270.452.2727 (phone)
  •  270.452.2249 (fax)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social fbsocial twsocial yt
social gpsocial flrsocial rss