McFaddin gives EKU State of the University address

Sep. 10—As part of the Richmond Chamber of Commerce's Business Luncheon, Eastern Kentucky University (EKU) President David McFaddin gave a state of the university address which touched on multiple topics.

Normally held in the Perkins Building, the luncheon was moved across campus to the Mac Gymnasium as a way to show off the facility to the community. It was initially opened shortly before the start of the pandemic.

McFaddin spoke about EKU's budget early on in the speech.

"You can see our budget at the university got about $380 million a year. That has been pretty stable. We have had some ups and downs over the last decade, candidly," McFaddin said. "If you look at that $380 million budget and look at what we did today, about 80% of our budget is made up of student tuition dollars."

He also praised staff and faculty at the university.

"What's the difference between us and everyone else is the high touch, high relationship experience between our outstanding world class faculty and our students... of how our staff support our students and their walk through their educational experience," McFaddin said.

At the moment, the average grade point average at the school is 3.4. McFaddin also said that the school has the highest post-graduation employment rate of any public institution in the state.

Enrollment is at 14,282, an increase up from several years in decline.

McFaddin touched on EKU's relationship with Madison County Schools and a new scholarship available for Madison County natives.

"For those who are Madison County residents, we are adding a $1,000 scholarship right there on top of anything else that we are doing for those who have a 2.5 grade point average all the way up to a 4.0 grade point average," McFaddin said. "Madison County is important to us."

McFaddin also highlighted several programs at EKU throughout his address (everything from criminal justice to psychology and aviation).

EKU's economic impact was also brought up by the president.

"I just wanted to take a moment, and it's not a moment to brag... Our university supports 6,000 jobs here in our local communities. $324.6 million in wages. I wanted to share that with you all to know that we take a lot of pride in — being an economic engine," he said.

An update on capital investments was also given in the address. McFaddin joked about the increased traffic that will be caused due to the construction. In total, there will be $131.5 million in construction and maintenance at EKU.

$30 million on Alumni Coliseum renovations.

$90 million on a new Model Laboratory School Facility.

$27 million on asset preservation.

$50 million on residence hall investments.

"I'd love to say that you're gonna see something other than sidewalks dug up," McFaddin said of some of the construction. "But a lot of the work we're gonna do — on a campus that had a really exponential growth cycle in the 1960's — we got a lot of stuff that needs some attention"

There will also be a major update on Powell Plaza that the university hopes will replicate some of the feeling of the Ravine.

A veteran's memorial garden was announced and will be built on the north end of the Carloftis Gardens, McFaddin estimated that a ribbon cutting will be held on that next year.

Towards the end of the address, McFaddin recognized several representatives from CG Bank. The company has just entered into a $1.15 million partnership with EKU. Hanger Field has been rebranded as the CG Bank Field at Roy Kidd Stadium.

"It's a first ever. We have never had that kind of investments. I will say this, we are very hopeful and we are very eager to do the next one," McFaddin said.

During the end of the session when McFaddin gave time to take questions from audience members, he brought up the pedway on the Eastern Bypass. Calling it "the longest project ever," McFaddin said the construction is just short of height requirements and that EKU is working with the contractor to fix the issue.

State officials Deanna Frazier Gordon and Jared Carpenter were present for the address. Madison County Judge Executive Reagan Taylor, Richmond Mayor Robert Blythe, and Berea Mayor Bruce Fraley were also in attendance, alongside several other county officials such as Richmond Commissioners Krystin Arnold and Mike Brewer.

Richmond City Manager Rob Minerich was also in attendance and was given an EKU visor by McFaddin.