LYNCHBURG, Va. (WFXR News) - An economic impact report from Mangum Economics has found that Liberty University generates more than $1 billion in economic activity per year.
According to the report, spending in Lynchburg by the university, its associated enterprises, students, and visitors totaled $618.3 million during 2016-2017.
The report revealed the following:
"Our analysis shows that regional spending was responsible for generating over $1.0 billion in economic activity in the Lynchburg MSA, which means that every $1.00 of Liberty University's net local spending generated $1.67 within the broader regional economy."
During that same year, the report states the regional spending is responsible for supporting a total of 11,919 jobs within Lynchburg and generating $434.3 million in labor income. It goes on to say that roughly one out of four jobs in the city is either directly or indirectly attributable to Liberty University.
Read the full 65-page report here.