Brescia, KWC contributed nearly $88M combined to Owensboro’s economy, study shows
Kentucky Wesleyan College generated an economic impact of $54.7 million in the Fiscal Year 2021-22, while Brescia University contributed $33 million, according to a new report released at the end of January 2025.
The report comes from the Association of Independent Kentucky Colleges and Universities (AIKCU) and highlights the economic contributions of independent colleges and universities across Kentucky.
The report analyzed data from Fiscal Year 2021-22, the most recent period available, and examined how AIKCU’s 18 member institutions contribute to state and local economies. In total, independent colleges and universities generated $2.06 billion in economic impact statewide. The total economic impact was measured in terms of direct and induced economic spending.
“We are proud to be a part of Owensboro’s story, and we know that our impact is amplified by Brescia University,” said KWC President Dr. James Cousins. “The recent AIKCU report underscores this point. While KWC’s individual impact stands at $54.7 million, these numbers represent more than just dollars and cents. They reflect a shared commitment to educating future leaders, inspiring innovation, and supporting the future of Owensboro and Daviss County.”
Brescia University President Rev. Larry Hostetter echoed that sentiment, noting that the university’s role extends beyond economic contributions.
“This study reinforces the significant economic contributions our institutions make to the community, with millions of dollars in direct and induced spending. Beyond the substantial financial impact, our universities play an immeasurable role in the economy as many of our graduates continue to live and work here. Our mission extends beyond preparing students for the workforce. We also strive to enhance our communities and aid in the betterment of its people.”
More than 59,000 students attend AIKCU’s member institutions, which award one in five bachelor’s degrees in Kentucky, according to a release from the organization.
“In addition to providing widespread access to higher education and helping develop Kentucky’s skilled workforce, AIKCU’s member colleges and universities are anchor institutions in communities throughout the commonwealth,” said Mason Dyer, AIKCU president. “They serve as hubs for the arts, culture, athletics, and community engagement, and are uniquely positioned to enhance the quality of life in their regions.”
The complete report, which includes individual data on the 18 colleges and universities, can be viewed at aikcu.org/economic-impact. The information for Brescia can be viewed here and for KWC can be viewed here.
By Ryan Richardson The Owensboro Times