University of Louisville Magazine

FALL 2013

The University of Louisville Alumni Magazine: for alumni, faculty, staff, students and anyone that is a UofL Cardinal fan.

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Page 19 of 75

Economic Impact Building on the future UofL has cleared and is beginning infrastructure construction on the Belknap Engineering and Applied Science Park, located on site of the former Kentucky Trailer property south of the J.B. Speed School of Engineering. The university purchased the property in 2008 and intends to build an engineering and applied science research park that capitalizes on the work of Speed faculty and others. Roadway construction on the 39-acre site is expected to be completed in 2014. Preliminary plans for the research park include providing additional research facilities for the J.B Speed School of Engineering, offces for applied sciences researchers and offces for private companies that want to build partnerships with the engineering school. Full development of the site could take 15-20 years, according to President James Ramsey. Nucleus wins entrepreneur of the year award Driving force The University of Louisville Foundation's economic development arm has won a prestigious regional entrepreneur of the year award. Nucleus won the 2013 Supporter of Entrepreneurship Award from the South Central Ohio and Kentucky region. Business services and supplies company Ernst and Young sponsors the award. At the awards dinner, Nucleus CEO Vickie Yates Brown accepted the prize, and said it validated the vision of UofL President James Ramsey, who has championed the idea of a research park in downtown Louisville. Nucleus supports entrepreneurs and start up companies and opened its new building in October on the old Haymarket block near UofL's Health Sciences Campus. Community service. Top scholars. Ground-breaking medical research. These are just a few ways that UofL makes a positive impact on people's lives worldwide. But the university also has an impressive fnancial impact, especially in Kentucky. A UofLproduced fnancial analysis of the 2012–13 fscal year shows just how signifcant a role the university plays throughout the region: 18|LOUISVILLE.EDU › $1.7 billion total economic impact on the Commonwealth of Kentucky, about 1 percent of Kentucky's total GDP. › Direct and indirect employment of 20,714 jobs, with total earnings of $1.1 billion. › Construction impact of $106 million, almost 2,000 direct and indirect jobs, with more than $70 million in total earnings. › $132.9 million in state and local taxes, including $27.3 million to Jefferson County. UofL continues to be one of the state's larger employers, with 6,900 faculty and staff, as well as a good investment of taxpayer money. The analysis indicates that more than $3 is returned in the statewide economy for every $1 in state money that UofL receives. Source: Meench & Shanker, LLC.

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