LYNCHBURG, Va. (WDBJ7) -- Liberty University announced Monday that the school's impact on the local and state economies has been positive, generating more than $1 billion in economic activity per year.
The report, released this week by Liberty’s Office of Outreach and Business Engagement (OBE), studied Liberty’s economic impact during the 2016-17 academic year. Liberty is the nation's largest private, nonprofit university.
According to the study, Liberty and its auxiliary enterprises are the city of Lynchburg's largest employer, providing jobs for 6,797 individuals in the Lynchburg MSA (Metropolitan Statistical Area) and more than 9,210 worldwide.
Across the Commonwealth of Virginia, Liberty says students, visitors, and associated enterprises resulted in $712 million in direct spending, with an economic impact of more than $1.3 billion.
This impact included nearly $106 million in tax revenue, over $546 million in labor income, and supporting more than 13,000 jobs.
The university’s contribution to the region also included nearly $3 million worth of volunteer service hours.
To read the full report, click here.