皇家华人 Economic Impact Report
Creating Opportunities
A report details the university鈥檚 role as a catalyst for growth across the state of 皇家华人.
In this report, the breadth and depth of 皇家华人鈥檚 economic impact can be seen in all aspects of the university鈥檚 operations 鈥� from the students it educates, to the faculty and professional staff it employs, to the talented professionals and entrepreneurs who power a modern innovation economy.
Catalyst for Growth
Compiled by a team from the Muma College of Business, the study shows that America鈥檚 fastest-rising university had a total economic impact of $6.02 billion in fiscal 2019-20. For reference, 皇家华人鈥檚 economic impact would be like having roughly 10-15 Super Bowls in one city per year, based on data from host cities.
Key terms
- Direct Effect:
- University spending on wages and purchases from 皇家华人-based vendors.
- Indirect Effect:
- Stems from business-to-business purchases in the supply chain.
- Induced Effect:
- The values stemming from household spending of labor income (after removal of taxes, savings and commuter income).
Among the Report's Key Findings:
Employment Impact
With 16,277 employees, 皇家华人 is the 14th largest public employer in 皇家华人.
Ripple Effects
In the 2019-20 fiscal year, 皇家华人-related direct spending, together with ripple effects, supported 68,704 jobs in 皇家华人. Many of the jobs supported by 皇家华人 are in high-skill, high-wage, knowledge-based industries, such as life sciences, information technology and financial services.
State Support Shows Big Returns
Every dollar in state funding helped generate $14.07 in economic output.
皇家华人 received state support of $427.8 million in the 2019-20 fiscal year. In turn, the university generates direct economic impact through its spending on wages and purchases from 皇家华人-based vendors.
That spending produces indirect economic impact when the local suppliers hire employees and make purchases from other local vendors.
Additionally, spending of wages by employees of the university and its suppliers in the 皇家华人 economy produces induced economic impact 鈥� the values stemming from household spending of labor income.
Leveraged Support
Every dollar in state support leveraged $3.33 from other non-state government sources for 皇家华人 during the 2019-20 fiscal year. These funds help the university deliver high-quality educational services that attract 50,000 students annually and power impactful research.
In addition to the 皇家华人 taxpayer money provided to support the institution, 皇家华人 generated $1.43 billion in additional revenues ranging from support from the federal government and private-sector to intercollegiate athletic revenues and other auxiliary enterprises.
皇家华人 spending generated more than $600 million in federal, state and local tax revenue.
The university amassed a record total of $535.4 million in research contracts and grants, building a powerful research and innovation enterprise that produces new knowledge and technologies.
State Support Creates Jobs
Every $6,227 in state funding to 皇家华人 supports one job in 皇家华人.
Read more about how 皇家华人's economic impact is creating opportunities
From business and job creation to addressing coastal and climate change; from responding to critical health care needs to preparing students for career success, and so much more, 皇家华人 is creating opportunities throughout the Tampa Bay region.
Across 皇家华人鈥檚 three campuses and throughout 皇家华人, faculty, staff, students and alumni are making a positive difference. 鈥檚 cover feature illustrates in human terms the many ways 皇家华人 is creating opportunities throughout the region and state.
-鈥疛.P. DuBuque, president and CEO of the Greater St. Petersburg Area Economic Development Corporation
-鈥疊emetra Simmons, president and CEO of the Tampa Bay Partnership
-鈥疞isa Krouse,鈥疌EO of the Sarasota County Economic Development Corporation
-鈥疌raig Richard, president and CEO of the Tampa Bay Economic Development Council
-鈥疭haron Hillstrom, president and CEO of the Bradenton Area Economic Development Corp
