Vanderbilt University generates $7 billion in economic activity across Tennessee and supports more than 43,000 jobs annually, according to a new statewide study of Tennessee's private colleges and universities commissioned by the Tennessee Independent Colleges and Universities Association.
The study, prepared by Regional Economic Consulting Group, examines the economic contributions of Tennessee's private colleges and universities, including university operations, capital and student spending and economic activity generated by alumni. Vanderbilt and its alumni account for $4 billion in direct spending. The broader economic activity associated with Vanderbilt creates 43,677 jobs and $2.2 billion in income annually, while generating $169 million in state and local tax impact.
"Vanderbilt's relationship with Tennessee is about more than where we are located. It's about how we contribute," said Nathan Green, vice chancellor for government and community relations. "What happens at Vanderbilt reaches well beyond our campus, through the people we educate, the research we pursue and the ways we invest in our communities. This report helps put the scale of that impact into perspective."
Vanderbilt's direct economic activity includes $1.2 billion in university operations and $270 million in capital spending, along with $146 million in student spending on off-campus housing, meals and other purchases. The study also attributes $2.3 billion to the earnings differential of Vanderbilt alumni in Tennessee.
"Vanderbilt's research enterprise is one of the most vital ways we drive economic growth across Tennessee. Every investment we make in discovery attracts top talent, fosters industry partnerships and seeds breakthrough technologies right here at home," said Susan Margulies, the university's vice provost for research and innovation. "As we develop the Innovation Neighborhood, we are creating the physical and collaborative infrastructure needed to scale that research impact even further, accelerating discoveries that will attract new investments and benefit Tennesseans for generations to come."
The findings place Vanderbilt's impact within the broader contributions of Tennessee's private colleges and universities. Collectively, the state's independent institutions generate more than $22 billion in economic activity annually, support 135,490 jobs and provide nearly $6.8 billion in income across Tennessee. Their economic activity contributes more than $695 million in state and local sales and property taxes.
"Independent colleges and universities are deeply woven into the economic fabric of Tennessee," TICUA President Cameron Conn said. "Every day, these institutions educate and prepare Tennesseans for the workforce, employ people in communities across the state and generate economic activity that reaches far beyond their campuses. This report puts numbers behind that impact and demonstrates that Tennessee's independent institutions are proven partners, delivering powerful returns for students, communities and the state."
TICUA represents 34 private, nonprofit colleges and universities across Tennessee. Its member institutions enrolled more than 79,000 students and employed more than 21,000 faculty and staff in fall 2025.
TICUA also recently named Candice Storey Lee, Vanderbilt vice chancellor for athletics and university affairs and athletic director, to its 2026 Hall of Fame. Lee is among 25 alumni recognized this year for their leadership, service and impact.
Read the full TICUA Economic Impact Report.
Source note: The TICUA study examines Vanderbilt University's economic impact and does not include Vanderbilt University Medical Center. The study uses data from the 2023-24 academic year. Its alumni earnings calculation assumes that 55% of Vanderbilt alumni stay in Tennessee after graduation and calculates lifetime earnings over a 30-year career.
