KNOXVILLE, Tenn. (AP) -- A study says Tennessee's athletic department has an annual economic impact of approximately $151 million to the state of Tennessee.
The study by the university's center for business and economic research measured the athletic department's economic impact for the 2011-12 fiscal year. The study estimated that over 2,900 jobs are created annually as a result of combined annual spending by the athletic department and fans attending Tennessee football, men's basketball and women's basketball games.
The report also indicated that the Tennessee athletic department raises over $28 million in state and local revenues each year. That figure includes slightly over $20 million in state and local sales taxes, $1.55 million in amusement taxes on ticket sales at Neyland Stadium and Thompson-Boling Arena plus $6.3 million in other tax revenues.