The University of Louisville Alumni Magazine: for alumni, faculty, staff, students and anyone that is a UofL Cardinal fan.
Issue link: https://louisville.epubxp.com/i/535203
1 6 | L O U I S V I L L E . E D U Economic Impact Growth continues on J.D. Nichols campus The J.D. Nichols Campus for Innovation and Entre- preneurship continues to grow with the arrival of new tenants and plans for additional buildings. The Nucleus, the f rst new off ce building developed on the campus by the University of Louisville Foundation, welcomed its anchor tenant, Atria Senior Living, in December. The Louisville-based provider of upscale hous- ing for the elderly moved 400 of its employees to the building. Another recent addi- tion to The Nucleus, local nonprof t ElderServe Inc., provides assistance to the frail elderly. It also moved to the building in December after completing a $500,000 fund-raising campaign that allowed it to relocate from the Dosker Manor public housing complex on Muhammad Ali Boulevard. Through its Nucleus: Kentucky's Innovation Center aff liate, the foundation is overseeing construction of a six-story, 825-space parking garage on the campus at Jefferson and Preston streets. Plans call for it to be completed by the end of the year. The foundation also is preparing to build a second off ce building, which will have eight to 10 f oors. It will be built east of The Nucleus, which is located at 300 E. Market St. UofL economic impact surpasses $1.8 billion The University of Louisville serves the Common- wealth of Kentucky as an economic development engine. As a premier metropolitan research institu- tion, the university not only builds upon and shares knowledge, but it enhances opportunities for resi- dents. Based upon regional input-output multipliers from the U.S. Department of Commerce, UofL had a direct impact of $881.9 million and indirect impact of $954.4 million during the 2013-14 academic year. Combined, UofL's contributions to state economic production totaled nearly $1.84 billion. Within this same timeframe UofL employed 6,700 faculty and staff members, while its direct and indirect effects accounted for another 9,100 jobs. A key component of UofL's economic boost, university- related construction activity totaled $95 million and resulted in 1,750 of these additional jobs for the year. In addition to higher education, other industries that benef ted from the presence of the university include manufacturing, retail trade, professional services, scientif c services and technical services. Artist rendering of parking garage for J.D. Nichols Campus for Innovation and Entrepreneurship.