"I think there's exceptional opportunity to look at the effects and help lay the groundwork for a development of a business plan," said Dr. Charles Haywood.
Haywood conducted the economic impact study at Eastern Kentucky University. His findings show the school is fueling the growth in Madison County and around the Commonwealth with annual contributions of $518.5 million to the state.
"I think EKU is on the verge of a period of expansion. It has potential for that. Territory to draw from," Haywood said.
What's more, Haywood found EKU is responsible for the addition of almost 6,000 jobs across the state.
"For every job at EKU there is another job in Madison County attributable to the University," Haywood said.
EKU President Joanne Glasser, says they are glad to be a contributor to the local and state economy and they had the study conducted to gage the economic value of EKU.
"If EKU were to somehow disappear they would lose $163 million less each year," Haywood said.