Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Henderson | Lakes | McCracken | 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.

3/12 - 718 switched from reg 2 to hopkins only
3/13 - 16
3/12 - 718 switched from reg 2 to hopkins only
3/13 - 16
3/12 - 718 switched from reg 2 to hopkins only
3/13 - 16

In Other News...

Providence Police Reports Released

PROVIDENCE, Ky. (9/1/14) ― The Providence Police Department released the following arrest reports Monday, Sept. 1.… Read More

Christian County Traffic Advisory

CHRISTIAN COUNTY, Ky. (9/2/14) — The Kentucky Transportation Cabinet plans to close Substation Road in Christian County… Read More
3/12 - 718 switched from reg 2 to hopkins only
3/13 - 16

Most Read This Week (Site-Wide)

August 29, 2014 8621

Luke's Flea Market Vendors' Home Away…

in News by Charles W. Riley II, SurfKY News
August 30, 2014 8340

One Hospitalized After Officer-Involved…

in Top Stories by Charles W. Riley II, SurfKY News
August 31, 2014 6353

Passenger in Officer-Involved Shooting…

in Top Stories by Rita Dukes Smith, SurfKY News Director
August 29, 2014 4298

Business Spotlight - Magical Memories…

in Top Stories by Charles W. Riley II, SurfKY News
August 30, 2014 3305

Ponderosa Madisonville to Donate 10…

in Top Stories by Rita Dukes Smith, SurfKY News Director

Most Read Stories from Hopkins County

August 30, 2014 3305

Ponderosa Madisonville to Donate 10…

in Top Stories by Rita Dukes Smith, SurfKY News Director
September 01, 2014 1935

Hopkins County Misdemeanor Indictments

in Top Stories by Karen McKnight
August 30, 2014 1475

City of Madisonville Says 'Goodbye' to…

in Top Stories by Amber Averitt, SurfKY News
August 29, 2014 977

MCC Announces New Board Members

in Top Stories by Joyce Riggs
September 02, 2014 891

Dawson Springs Woman Arrested for…

in Top Stories by Madisonville Police Department

Most Read Stories from Owensboro

August 29, 2014 2999

Daviess County Sheriff’s Office Activity…

in News by Dennis Beard, SurfKY News
August 29, 2014 2834

Owensboro Police Department Activity…

in News by Dennis Beard, SurfKY News
August 30, 2014 2144

Owensboro Traffic Advisory

in News by Keith Todd
August 29, 2014 1136

Woman Charged in Assault of 3-Year-Old…

in Top Stories by Dennis Beard, SurfKY News
August 30, 2014 515

Smith, Hamilton honored at Distinguished…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

August 29, 2014 4298

Business Spotlight - Magical Memories…

in Top Stories by Charles W. Riley II, SurfKY News
August 30, 2014 2547

Skateboarders Enjoy Own Style of Cruise In

in Top Stories by Charles W. Riley II, SurfKY News
August 29, 2014 2503

School System Facing $5M Shortfall;…

in Top Stories by Charles W. Riley II, SurfKY News
August 29, 2014 2391

No College = Low Wages : A Muhlenberg…

in Top Stories by Ken 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