PUBLICATIONS & RESEARCH

The Center for Business and Economic Research (CBER) at the University of Tennessee, under contract with the Department of Finance and Administration of the State of Tennessee, conducted a survey of Tennessee residents to ascertain their insurance status and use of medical facilities. A target sample size of 5,000 households allows for obtaining accurate estimates for subpopulations. CBER prepared the survey instrument in cooperation with personnel from the Bureau of TennCare.

This study summarizes the estimated impacts of the University of Tennessee at Martin (UTM) on the Tennessee economy for Fiscal Year 2008 (FY08). The economic impacts estimated in this study include income and jobs created by spending of the university and its employees and students. Tennessee’s economy benefits from the presence of UTM in several ways. First, the university provides 2,152 faculty, staff, and student employees with salaries. UTM’s payroll for FY08, both salaryand benefits, was $53.9 million. Our estimate indicates that payroll spending impacts the state economy in the amount of $107.8 million and helps create about 762 additional jobs. Second, the university spends money on goods and services in the state, which creates jobs and income. UTM made $16.3 million in non-payroll expenditures in FY08, which generated $10.5 million in income and created 256 jobs. Lastly, spending by students generates significant economic activity in the state. We estimate student expenditures for FY08 to be approximately $47.7 million, creating $20.2 million in income and creating 674 jobs. Combining the effects of payroll ($107.8), non-payroll ($10.5), and student spending ($20.2), we find that UTM generates a total of $138.5 million in income and creates 3,844 jobs for the state of Tennessee, including those currently on university payroll. In addition, we estimate that $15.1 million is generated in state and local tax revenue from the presence of the university.The Economic Impact of The University of Tennessee, Martin on the State of Tennessee; Academic Year 2007-2008