Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Economic Contributions of the
University of Florida and Related Entities
in 2014-15
Sponsored Project Report to the Office...
University of Florida: The Gator Nation, The Gator Good
• 50,000+ students
• 900 buildings on 2000 acre campus in
Gainesvi...
Sources and Methods for UF Economic Impact Analysis
• UF financial statements for fiscal year 2014-15, supplemental detail...
Direct Employment at UF and Related Entities
Entity / Employee Class Full-time Part-time Total
Regular Faculty 2,777 130 2...
Consolidated Revenues to UF and Affiliated Organizations FY 2014-15
Total $5.01 billion; $3.34 billion from outside state ...
UF Student Spending FY 2014-15
Budget Item
Resident,
On Campus
Nonresident,
On Campus
Resident,
Off Campus
Nonresident,
Of...
UF Athletic Event Visitor Attendance FY 2014-15
Sport Total
Resident,
Nonaffiliated*
Nonresident
Football 515,001 334,995 ...
UF Academic and Cultural Visitor Attendance FY 2014-15
Activity / Venue Total
Resident,
Nonaffiliated
Nonresident
Museum o...
UF Visitor Spending FY 2014-15
Expense Category
Athletic Event Visitors
Educational and Cultural
Event Visitors Total All
...
Summary of UF Economic Contributions FY 2014-15
Entity / Activity
Expense-
Revenue
New
Final
Demand
Industry
Output
Value
...
Employment Contributions, FY 2014-15
Total 135,576 fulltime and part-time jobs; represents 1.26% of state workforce.
Output (Revenue) Contributions, FY 2014-15
Total $12.56 billion
Value Added (GDP) Contribution, FY 2014-15
Total $7.83 billion; represents 0.94% of Florida Gross State Product
Percent Change in UF Employment Contributions
FY 2014-15 vs. FY 2009-10
FY 2009-10 adjusted for inflation using GDP Implic...
Graduate Earnings (PV) $5.45 Billion
Industry Output $10.23 Billion
Value Added (GDP) $6.02 Billion
Labor Income $3.51 Bil...
Economic Contributions of UF Compared to Other SUS
Institutions FY 2014-15
Return On Investment to the State of Florida
Preeminence Initiative
Data for 2014 through 1st
quarter 2016. ROI is ratio o...
Questions or Comments?
Study report available at:
http://fred.ifas.ufl.edu/news/UF-Economic-Contributions
Contact author a...
Upcoming SlideShare
Loading in …5
×

Economic Contributions of the University of Florida

1,523 views

Published on

This presentation covers data collected by Dr. Alan Hodges, UF/IFAS Food and Resource Economics Department Extension Scientist. Overall, UF’s economic impact on the state in fiscal year 2014-15 was a whopping $12.56 billion in industry output or sales revenues, $7.83 billion in contribution to State Gross Domestic Product, and 135,576 full-time and part-time jobs, according to this new report released by the university.

Published in: Economy & Finance
  • Be the first to comment

  • Be the first to like this

Economic Contributions of the University of Florida

  1. 1. Economic Contributions of the University of Florida and Related Entities in 2014-15 Sponsored Project Report to the Office of University Relations Alan W. Hodges Mohammad Rahmani Rodney L. Clouser University of Florida Institute of Food and Agricultural Sciences Food & Resource Economics Department
  2. 2. University of Florida: The Gator Nation, The Gator Good • 50,000+ students • 900 buildings on 2000 acre campus in Gainesville FL • 16 colleges, 1000 undergraduate majors, 200 graduate degrees, 30 training certificates, 16 online programs offered • Ranked in top-20 U.S. public universities • Rated among best values in higher education • “Flagship” institution of the State University System of Florida • Statewide presence through UF-IFAS Extension and UF Health • $700M+ in research funding • 300+ patents annually • 175 tech startups, $1B+ invested since 2002 • National championship NCAA sports teams
  3. 3. Sources and Methods for UF Economic Impact Analysis • UF financial statements for fiscal year 2014-15, supplemental detail on revenues, expenditures, employment, asset purchases, transfers • Student cost of attendance (undergraduate, graduate/professional, resident, non-resident) • Attendance at athletic, academic, medical and cultural venues, and average daily visitor spending (Visit Florida USA) • Direct Support Organization employment and spending/transfers (UF Athletic Association, Research Foundation) • Employment by technology licensing companies in Progress Park and statewide • IMPLAN regional economic models for Florida and Alachua County: estimates direct, indirect and induced multiplier effects, share of spending in-state, producer margins on retail spending • In-state vs. non-Florida final demand (new dollars) for revenues, nonresident student and visitor spending
  4. 4. Direct Employment at UF and Related Entities Entity / Employee Class Full-time Part-time Total Regular Faculty 2,777 130 2,907 Administrative Faculty 136 2 138 Clinical Faculty 1,031 157 1,188 Librarians 77 0 77 IFAS/Sea Grant Extension Agents 316 1 317 PK Yonge Lab School Faculty 82 2 84 Career Faculty 141 9 150 Post Doc/Research Associates 576 28 604 TEAMS Staff 7,573 170 7,743 USPS Staff 873 11 884 Temporary employees* 15,767 15,767 Subtotal UF 13,582 16,277 29,859 Shands Hospital and clinics-Gainesville 6,840 Shands Hospital and clinics-Jacksonville 3,620 Subtotal UF Health 10,460 University Athletic Association 628 Gator Boosters 12 12 University of Florida Foundation 54 54 Subtotal Direct Support Organizations (large) 66 694 Total All UF and Affiliated Organizations 13,648 16,277 41,013 *Temporary employees include OPS Staff, Adjunct Faculty, Graduate Teaching Assistants, Work Study, Other Student Workers.
  5. 5. Consolidated Revenues to UF and Affiliated Organizations FY 2014-15 Total $5.01 billion; $3.34 billion from outside state (66.7%)
  6. 6. UF Student Spending FY 2014-15 Budget Item Resident, On Campus Nonresident, On Campus Resident, Off Campus Nonresident, Off Campus Total Million Dollars Books/supplies $8.49 $1.49 $35.64 $19.57 $65.19 Clothing maintenance 4.54 0.80 19.06 10.47 34.87 Computer/cell phone 8.29 1.46 35.44 20.06 65.25 Food stores 0.00 0.00 59.26 32.54 91.80 Food service 28.24 4.95 59.26 32.54 125.00 Housing 35.15 6.17 155.53 93.03 289.87 Personal 1.78 0.31 7.46 4.10 13.64 Transportation 7.24 1.27 30.39 16.69 55.59 Tuition/fees 41.53 22.00 214.42 393.31 671.26 Total $135.26 $38.45 $616.46 $622.30 $1,412.48 Estimates from “Cost of Attendance” data
  7. 7. UF Athletic Event Visitor Attendance FY 2014-15 Sport Total Resident, Nonaffiliated* Nonresident Football 515,001 334,995 59,225 Men's Basketball 169,123 106,278 31,457 Baseball 138,441 95,811 58,145 Volleyball 40,833 26,661 7,388 Softball 38,628 25,222 6,989 Gymnastics 29,254 19,101 5,293 Women's Basketball 26,089 17,035 4,720 Soccer 10,817 7,063 1,957 Lacrosse 5,077 3,315 919 Women's Tennis 3,934 2,569 712 Men's Tennis 2,062 1,346 373 Total 979,259 639,396 177,178 Total Visitor-days** 496,876 319,698 177,178 *Excludes UF students, faculty, staff **Assumes one-half day per person for residents, one day for nonresidents
  8. 8. UF Academic and Cultural Visitor Attendance FY 2014-15 Activity / Venue Total Resident, Nonaffiliated Nonresident Museum of Natural History 207,028 82,811 41,406 Philips Center for Performing Arts 171,112 51,334 17,111 Baughman Center 9,487 4,269 949 University Auditorium 38,526 13,869 3,853 Harn Museum 110,161 55,081 11,016 O'Connell Center (incl. non-UF athletic events) 326,186 146,784 16,309 Shands Gainesville Hospital admissions, outpatient visits and accompanying family 1,894,718 1,364,197 56,842 Shands Jacksonville Hospital admissions, outpatient visits and accompanying family 959,702 690,985 28,791 Veterinary Medicine Hospitals (family accompanying animal patients) 35,297 25,414 1,059 Career Resource Center 933 467 467 College of Medicine Continuing Education 57,614 46,091 11,523 College of Dentistry Continuing Education 3,252 2,602 650 UF Continuing Education 9,529 6,670 1,906 IFAS Conferences and Institutes 4,561 3,193 912 Student orientation 20,000 16,260 3,740 Total 3,848,106 2,510,026 196,533 Total Visitor-days* 1,489,187 1,292,654 196,533 *Assumes 0.5 day for resident visits to cultural and health facilities, 1 day for nonresidents.
  9. 9. UF Visitor Spending FY 2014-15 Expense Category Athletic Event Visitors Educational and Cultural Event Visitors Total All Visitors Resident Non- resident Resident Non- resident - - - - - - - - - - - - - - - - - - - - Million Dollars - - - - - - - - - - - - - - - - Entertainment & Recreation $3.98 $3.37 $16.08 $3.73 $27.15 Food & Beverage 7.09 6.01 28.69 6.66 48.45 Lodging 10.09 8.54 40.79 9.47 68.89 Other Expenses 0.96 0.82 3.89 0.90 6.57 Shopping 4.04 3.42 16.33 3.79 27.58 Transportation - rental car 7.35 6.22 29.70 6.90 50.16 Transportation - taxi, bus, gas 3.58 3.03 14.47 3.36 24.44 Total All Items $37.08 $31.40 $149.95 $34.83 $253.25 Estimates reflect average daily expenditures for Florida travelers (Visit Florida)
  10. 10. Summary of UF Economic Contributions FY 2014-15 Entity / Activity Expense- Revenue New Final Demand Industry Output Value Added Labor Income Property Income Business Taxes Employ- ment (Jobs) Million Dollars University Operations $2,599 $883 $3,851 $3,020 $2,258 $659 $102 76,120 Capital Outlays 241 197 503 252 151 83 18 3,411 UF Health Hospitals and Affiliates 1,837 1,595 4,606 2,668 1,864 650 154 32,846 Direct Support Organizations 193 36 260 197 120 58 19 1,363 Student Spending 667 173 794 495 253 196 46 8,269 Visitor Spending 253 47 273 165 97 47 21 2,955 Technology Licensing Companies 909 909 2,270 1,031 583 365 82 10,611 Total $6,699 $3,839 $12,556 $7,827 $5,327 $2,058 $442 135,576 New final demand reflects expenditures made in-state, margined, derived from out-of-state sources.
  11. 11. Employment Contributions, FY 2014-15 Total 135,576 fulltime and part-time jobs; represents 1.26% of state workforce.
  12. 12. Output (Revenue) Contributions, FY 2014-15 Total $12.56 billion
  13. 13. Value Added (GDP) Contribution, FY 2014-15 Total $7.83 billion; represents 0.94% of Florida Gross State Product
  14. 14. Percent Change in UF Employment Contributions FY 2014-15 vs. FY 2009-10 FY 2009-10 adjusted for inflation using GDP Implicit Price Deflator (U.S. Commerce Dept.) Entity / Activity Percent change University Operations 66.1% Capital Outlay -37.7% UF Health Hospitals and Affiliates -22.5% Direct Support Organizations -49.5% Technology Licensing Companies 31.0% Student Spending -23.4% Visitor Spending -23.3% Total All Entities / Activities 13.8%
  15. 15. Graduate Earnings (PV) $5.45 Billion Industry Output $10.23 Billion Value Added (GDP) $6.02 Billion Labor Income $3.51 Billion Property Income $1.97 Billion Business Taxes $539 Million Employment 77,964 Jobs Economic Contributions of UF Graduate Lifetime Earnings Present Value Differential Compared to Florida High School Graduates Source: Hodges, Harrington et al, Economic contributions of the State University System of Florida in 2014-15; report to the SUS-Board of Governors, April 15, 2016. Earnings data from Florida Department of Education-Division of Accountability, Education and Training Placement Information Program (FETPIP) for FY 2013-14
  16. 16. Economic Contributions of UF Compared to Other SUS Institutions FY 2014-15
  17. 17. Return On Investment to the State of Florida Preeminence Initiative Data for 2014 through 1st quarter 2016. ROI is ratio of research awards to salary & benefits. Initiative (Selected) Faculty Hired Research Awards Salary & Benefits Paid ROI Smart Polymers Nanomedicine 3 $6,755,549 $487,462 13.86 Mucosal Immunology 2 $1,654,802 $128,767 12.85 Drug Discovery & Development 4 $4,611,773 $648,219 7.11 One Health Initiative 4 $3,135,686 $469,041 6.69 Cybersecurity 4 $4,816,314 $787,185 6.12 Human Centered Computing 3 $5,448,945 $908,620 6.00 Metabolomics 5 $3,220,619 $678,493 4.75 Neuroscience and Brain 9 $9,583,606 $2,169,056 4.42 Skeletal Muscle Biology 2 $1,385,773 $344,690 4.02 UF Biodiversity 3 $900,066 $310,160 2.90 Informatics Techniques and Technologies 4 $1,836,451 $643,550 2.85 Informatics for Life Sciences 4 $2,241,645 $793,265 2.83 Informatics Institute (Director) 1 $851,940 $310,959 2.74 Optimizing Early Childhood 4 $1,594,429 $749,034 2.13 Autonomous Systems 1 $404,900 $199,798 2.03 Total All Initiatives 92 $55,303,895 $17,612,179 3.14
  18. 18. Questions or Comments? Study report available at: http://fred.ifas.ufl.edu/news/UF-Economic-Contributions Contact author at: Alan W. Hodges awhodges@ufl.edu 352-294-7674

×