Liberty University’s constant growth in local and statewide economic influence is reflected in a recent report by Mangum Economics LLC. The report is conducted every two years; this year’s report shares statistics from the 2021-22 academic year.
Liberty’s unduplicated annual headcount of students (residential and online) was 130,594, making it the largest institution of higher education in Virginia and one of the largest in the country. The university and its auxiliary enterprises were Lynchburg’s largest employer, providing jobs for 8,413 individuals in the MSA, 9,166 in Virginia, and 12,663 worldwide.
Between February 2018 and February 2023, total nonfarm employment increased by 2 percent in the Lynchburg MSA. Liberty’s employment numbers helped to provide stability to the MSA, especially during the volatile period in which restrictions were imposed on economic activity in response to the COVID-19 virus.
Spending in the Lynchburg MSA by the university, its associated enterprises, students, and visitors totaled $534.2 million, generating $966.9 million in overall economic activity in the Lynchburg MSA. (Every $1 of Liberty’s net local spending generated $1.81 within the broader regional economy.) On the state level, the spending was $613.2 million, generating almost $1.1 billion in economic activity.
Liberty plays a major part in attracting tourists to the Lynchburg MSA. In fiscal year 2022, out-of-town visitors attending campus events and meeting with LU employees and students generated approximately 133,339 hotel room nights in the MSA. In turn, the rooms were associated with approximately $14.9 million in hotel revenue within the area.
“In sum, Liberty University is a rapidly growing institution that has a significant economic and fiscal impact on the Lynchburg MSA and the state of Virginia as a whole and plays a very active and positive leadership role within its community and the state,” the report concluded.
Read the full report.
