Lubbock Christian University Generates Over $113 Million in Economic Impact for Lubbock in 2019
According to a report from the Independent Colleges and Universities of Texas, Lubbock Christian University generated over $113 million in economic impact for the City of Lubbock in 2019.
The ICUT report says that a bit under half of that total, $58 million, came from direct spending, which is defined as the amount of money spent directly by the institution, its employees, students and visitors.
Around $55 million was generated in additional economic value through additional employment and expenditures by local business. It's said that in 2019, LCU's impact on the economy was equivalent to adding over 1,000 jobs to the Lubbock economy.
Andy Burcham, LCU Vice President of Finance and Chief Financial Officer, said the following:
LCU’s mission is to be a ‘Christ-centered, academic community of learners, transforming the hearts, minds, and hands of students for lives of purpose and service. However, these figures from the ICUT study illustrate that we do much more than that. We are a real economic driver in the region, employing many Lubbock citizens and bringing a significant number of visitors to the city. Lubbock is a community that we love and serve daily. We are proud that our economic impact exceeds $100 million annually, and that over half of that amount is based on direct spending by the University, our employees, students, and visitors.
The report concluded by saying in 2020, LCU's freshman class was one of the largest in the past 10 years, meaning more expected economic growth for the areas surrounding the university.
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