Alice Lloyd College significantly contributes to the local and regional economy, generating an impressive $33 million in total economic impact for the Fiscal Year 2021-2022, according to a recent study commissioned by the Association of Independent Kentucky Colleges and Universities (AIKCU).
The comprehensive economic impact report, prepared by Dr. Mark Paul Gius, a professor of economics at Quinnipiac University, highlights Alice Lloyd College’s role as a key economic driver in Eastern Kentucky. The study reveals that the College’s direct spending amounted to $29.9 million, while induced spending contributed an additional $3.1 million, demonstrating the ripple effect of the institution’s financial activities within the community.
Alice Lloyd College is incredibly grateful to our wonderful friends and donors across the country who make education possible in Pippa Passes. Their generosity enables us to continue uplifting the Appalachian region, fostering growth, opportunity, and a brighter future for generations to come.
“Over 100 years ago, Mrs. Lloyd and Miss June had a vision of providing an opportunity for Appalachian youth to earn a tuition-guaranteed, character-based education and return to uplift our region,” said President Jim Stepp. “Today, 83% of our alumni live, work, and serve in these mountains and are fulfilling our founders’ vision. This recent economic study shows that our College is making a $33 million annual economic impact on our surroundings, further underscoring the importance of the Alice Lloyd College mission as we continue to serve as a light unto our beloved mountains.”
The report emphasizes the College’s influence beyond its academic contributions, showcasing how its operations support local industries, create employment opportunities, and foster economic resilience. The College’s investments, employee and student spending, and activities attract visitors, all of which inject new funds into the local economy.
This study forms part of AIKCU’s broader analysis, which found that Kentucky’s independent, nonprofit colleges and universities collectively contribute $2.06 billion to the state’s economy, supporting nearly 18,000 jobs across the Commonwealth.