EKU continues as major contributor to Madison County economy

EKU's quarterly Board of Regents meeting met Thursday.

RICHMOND, Ky. (WTVQ) – With thousands of alumni, hundreds of employees, and about 15,000 students, Eastern Kentucky University’s name is widely recognized across the region. However, the university touches lives across Madison County every day.

Eastern Kentucky University supports about 6,000 jobs in Madison County alone, making it one of the top 10 economic forces in the region, according to the state. According to EKU President Dr. David McFaddin, about 15 percent of jobs in Madison County are EKU-related.

However, considering the jobs the school brings to the community is only the beginning. Student and visitor spending, and how EKU workers spend their paychecks, particularly those that live in Madison County, also contribute to the growing economy in the area.

“We feel like our institution’s growth, our eye toward enrollment growth but also employment growth is going to be key for our community to stay strong and to stay vibrant as a community that is moving forward and growing overall–both economically and with those who choose to live in this community,” said Dr. McFaddin.

Thursday, the university’s Board of Regents was told about nearly 170 construction projects in the works at the school. Those projects mean jobs for area contractors and materials bought from area businesses.

“If not directly in Madison County, within the state of Kentucky, so we’re talking firms that are employed, contractors that are employed, as well as supplies that are used to construct these various projects,” said Associate Vice President for Facilities Management and Safety Bryan Makinen.

It’s a way to help grow the area’s economy, and it’s part of a bigger message and mission.

“We’re very grateful to be partners with the industrial development authority, the economic development authority, as they’re trying to recruit other businesses saying, ‘this is where you want to be,’ we want to be a part of that conversation,” said Dr. McFaddin.

The quarterly meeting also discussed its diversity recruitment efforts. The university continues to see an increase in enrollment of people in under-represented groups.