Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster

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.

In Other News...

Owensboro Police Department Activity Reports

OWENSBORO, Ky. (8/29/14) — Owensboro Police Department reported the following recent arrests and citations: Jonathan… Read More

Portion of Breckenridge Street Closing Tuesday

OWENSBORO, Ky. (8/30/14) — The City of Owensboro will close Breckenridge Street to all northbound traffic at Old… Read More

Most Read This Week (Site-Wide)

August 29, 2014 5906

Luke's Flea Market Vendors' Home Away…

in News by Charles W. Riley II, SurfKY News
August 26, 2014 4733

Owensboro Board of Commissioners…

in News by Beth Cecil
August 28, 2014 4469

Police Pursuit Spans Parts of Northern…

in Top Stories by Alex Piper, MCSO
August 26, 2014 4298

Family Has Close Call with Tornado

in Top Stories by Paul McRee, SurfKY News
August 26, 2014 3978

City Street Closures on Strawbridge and…

in News by Abby Shelton

Most Read Stories from Hopkins County

August 26, 2014 2159

Two People Injured When Vehicle Overturns…

in Top Stories by Matt Sanderson
August 27, 2014 1561

Crime Stoppers Top Most Wanted - August…

in Top Stories by Crime Stoppers
August 26, 2014 670

Whitfield Presents $1 Million FEMA Check…

in Top Stories by Amber Averitt, SurfKY News
August 29, 2014 648

MCC Announces New Board Members

in Top Stories by Joyce Riggs
August 26, 2014 597

McCay Chiropractor Presents Relay For…

in Top Stories by Amber Averitt, SurfKY News

Most Read Stories from Owensboro

August 26, 2014 4733

Owensboro Board of Commissioners…

in News by Beth Cecil
August 26, 2014 3978

City Street Closures on Strawbridge and…

in News by Abby Shelton
August 26, 2014 1833

City Hall, Transit, Sanitation Schedules…

in News by Abby Shelton
August 27, 2014 1370

Owensboro Police Conduct Investigations

in News by Dennis Beard, SurfKY News
August 26, 2014 1354

Happy Birthday to the Edge Ice Center

in News by Brittni Bunn

Most Read Stories from Muhlenberg County

August 28, 2014 4469

Police Pursuit Spans Parts of Northern…

in Top Stories by Alex Piper, MCSO
August 26, 2014 4298

Family Has Close Call with Tornado

in Top Stories by Paul McRee, SurfKY News
August 27, 2014 3576

Five Injured in Three-Vehicle Accident

in Top Stories by Charles W. Riley II, SurfKY News
August 26, 2014 2474

Annual Everly Brothers Cruise In…

in Top Stories by Paul McRee, SurfKY News
August 27, 2014 1897

Muhlenberg Job Corps Former Student…

in Top Stories by Karen Robinson

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)

SurfKY Owensboro News Bureau
920 Frederica St. / Suite 210  •  Owensboro, KY 42301  •  270.683-8060 (phone)


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

social 03social 04social 22social 21social 06