LYNCHBURG, Va. (WFXR) – Liberty University’s continual growth in both local and state economic influence was reflected in a new report by Magnum Economics, LLC, which outlined the university’s contribution to the Lynchburg Metropolitan Statistical Area (MSA) and the Commonwealth of Virginia’s workforce, tax revenue, and other economic activity.
Liberty University’s headcount of students, both residential and online, totals 111,084 during the report’s study from the 2018-19 academic year, makes it the largest institution of higher education in Virginia and the fifth largest in the country.
The university and its auxiliary enterprises were also recognized as Lynchburg’s largest employer with 7,987 individuals in the Lynchburg MSA; 8,665 in Virginia; and 11,336 worldwide.
University spending in the Lynchburg MSA and its associated enterprises, students, and visitors totaled $562.3 million, which then accounted for $984.7 million in overall economic activity in the Lynchburg MSA.
Liberty’s regional spending supported 12,580 jobs within the Lynchburg MSA and generated $428.3 million in labor income, and, given the City of Lynchburg’s total employment of 52,414 people, Liberty can be attributed as either directly or indirectly employing approximately one out of every four Lynchburg laborers.
View the full report below:
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