KNOXVILLE – University of Tennessee athletics produced an economic impact of approximately $151 million for the 2011-12 fiscal year, according to a recent study conducted by the UT Center for Business and Economic Research (CBER).
That number was arrived at after the researchers considered total income, tax revenues generated and employment opportunities created by UT athletics.
The study found that nearly 3,000 jobs were created from the spending of the athletic department and the fans who attended football, men’s basketball and women’s basketball games in Knoxville.
“Our report provides some useful context for the tremendous impact that the University of Tennessee Athletics Department has on the state of Tennessee,” said William Fox, director of the CBER.
Fox continued: “Most fans can appreciate the benefits of having top-tier athletics programs in a broad sense, but this analysis allows us to quantify the significant economic impact in terms that people can understand: earnings, jobs, and tax revenue. The fact is that the University’s athletics programs generate an impact that is equivalent to a very large amount of earnings, jobs, and tax collections.”
The last similar study of this nature was conducted in 2004. That report found the economic impact of UT athletics to be approximately $104 million in that fiscal year.