Grad Day at the Downs – UofL News Wed, 22 Apr 2026 16:55:01 +0000 en-US hourly 1 Financial impact of Churchill Downs and Derby week /post/uofltoday/financial-impact-of-churchill-downs-and-derby-week/ Fri, 28 Apr 2023 18:56:03 +0000 /?p=58472 The Derby is good for business in Louisville and Kentucky.
, an economics professor in the has compiled a new report on the economic impact of Churchill Downs and Kentucky Derby week activities in the Louisville metro area. The report includes estimates of returns on tax incentives.
Using data from the Kentucky Horse Racing Commission, Churchill Downs, the U.S. Bureau of Economic Analysis and IMPLAN, a software program for assessing economic impact, Lambert reports that in a typical year, the Derby and Churchill Downs generate $396 million in direct, indirect and induced spending and approximately $47 million in local, state and federal tax revenue.
  • Estimated Derby week economic impact of Churchill Downs: $302 million
  • Estimated Derby week direct, indirect and induced spending on hotels, restaurants, etc.: $94 million
  • Total Derby week economic activity: $ 396 million
Lambert estimates that local and state governments provide $3-4 million in tax incentives and services to Churchill Downs and the Kentucky equine industry each year. However, these tax losses are offset by $17 million in tax revenue for local and state government generated by Churchill Downs and local businesses during Derby week.
In the report, Lambert also shows some of the impact of COVID-19 on Derby-related revenue in 2020 and 2021, which significantly reduced revenues for Churchill Downs, the community and taxing authorities.
Lambert notes that thanks to Derby week and diversification into historical horse racing and racing casinos like Turfway Park in Florence, Kentucky, Churchill Downs has offset a trend of declining revenues and attendance at most racetracks, including its own, in the United States.
]]> UofL celebrates 225th anniversary /post/uofltoday/uofl-celebrates-225th-anniversary-april-3/ Mon, 03 Apr 2023 10:30:36 +0000 /?p=58292 April 3, 2023, is a big day for the University of Louisville.

UofL will celebrate 225 years as the higher education leader in Kentucky’s largest metropolitan area on the date known in UofL history as its Founders Day.

It commemorates the day in 1798 when eight Louisvillians – Richard Clough Anderson, Alexander S. Bullitt, William Croghan, John Thruston, William Taylor, James Meriwether, Henry Churchill and John Thompson – declared their intention to establish an education institution called Jefferson Seminary and began raising funds for their plan. For more about Founders Day, see this story.

“I am thrilled to help celebrate 225 years of Cardinal pride,” UofL President Kim Schatzel said. “Today, the influence of modern-day UofL stretches through this city, this region and around the world. We couldn’t be more proud of our more than 163,000 alumni who planted the roots of their vocations on our campuses and have gone on to make significant contributions to society.”

As one of the first city-owned, public universities in the nation, UofL’s dynamic connection with Louisville has flourished over the past two and a quarter centuries, fueling success for both. UofL is redefining what success means for thousands of students and creating impacts that make a difference through research and innovation.

That history of success is cause for celebration. And the university plans to celebrate through the Fall 2023 semester.

Festivities will kick off with a spring football game,Friday, April 21, followed by Grad Day at the Downs, an event for UofL graduates and alumni, Thursday, May 11, and the spring Commencement ceremony, Saturday, May 13. For more information on these events, go to.

Additional anniversary celebrations will take place throughout the year, includinga series of events leading to the September inauguration of Schatzel asUofL’s 19th president, homecoming week and Fall 2023 Commencement.

With support from alumni and friends, the University of Louisville can invest in and brightly look forward to a remarkable next 225 years of achievement. Visit today to make a gift.

Watch President Schatzel’s video message below.

 

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