͵ƵEconomic Impact Report

Creating Opportunities

A report details the university’s role as a catalyst for growth across the state of Florida.

In this report, the breadth and depth of USF’s economic impact can be seen in all aspects of the university’s operations — 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.

$6.02 BillionEconomic Impact

Catalyst for Growth

Compiled by a team from the Muma College of Business, the study shows that America’s fastest-rising university had a total economic impact of $6.02 billion in fiscal 2019-20. For reference, USF’s economic impact would be like having roughly 10-15 Super Bowls in one city per year, based on data from host cities.

Pie chart broken down into the following information. Direct: $3.253 Billion. Induced: $1.709 Billion. Indirect: $1.055 Billion.

Key terms

Direct Effect:
University spending on wages and purchases from Florida-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:

16,277͵ƵEmployees

Employment Impact

With 16,277 employees, ͵Ƶis the 14th largest public employer in Florida.

Pie chart broken down into the following information. Direct: 52,095 Jobs. Induced: 10,252 Jobs. Indirect: 6,356 Jobs.
68,704Jobs Supported

Ripple Effects

In the 2019-20 fiscal year, USF-related direct spending, together with ripple effects, supported 68,704 jobs in Florida. Many of the jobs supported by ͵Ƶare in high-skill, high-wage, knowledge-based industries, such as life sciences, information technology and financial services.

$1State Funding
=
$14.07Economic Impact
Two female students standing in the library with open books, talking, and laughing with one male student sitting at a table behind them reading.

State Support Shows Big Returns

Every dollar in state funding helped generate $14.07 in economic output.

͵Ƶreceived 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 Florida-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 Florida economy produces induced economic impact — the values stemming from household spending of labor income.

$1State Funding
=
$3.33Non-state Government Sources

Leveraged Support

Every dollar in state support leveraged $3.33 from other non-state government sources for ͵Ƶduring 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.

A group of ͵Ƶstudents cheering in the stands at a ͵Ƶfootball game at Raymond James Stadium in Tampa, FL.
$1.43 BillionRevenue Generated

In addition to the Florida taxpayer money provided to support the institution, USF 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.

$600 MillionTax Revenue

͵Ƶspending generated more than $600 million in federal, state and local tax revenue.

$535.4 MillionGrants and Contracts

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.

Female research student in lab entering data into a computer.
$6,227State Funding
=
1Job

State Support Creates Jobs

Every $6,227 in state funding to ͵Ƶsupports one job in Florida.

Cover of the Winter 2021 ͵ƵMagazine focusing on the $6.02 billion in economic impact.

Read more about how USF'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, ͵Ƶis creating opportunities throughout the Tampa Bay region.

Across USF’s three campuses and throughout Florida, faculty, staff, students and alumni are making a positive difference. ’s cover feature illustrates in human terms the many ways ͵Ƶis creating opportunities throughout the region and state.

“ ͵Ƶis uniquely positioned to address some of the main challenges facing our communities, including the need for more collaboration across the Tampa Bay region to attract new businesses and the growing demand to produce a more skilled workforce. ”
- J.P. DuBuque, president and CEO of the Greater St. Petersburg Area Economic Development Corporation
“ The University of ͵Ƶ is a major economic driver for the entire Tampa Bay region, producing a pipeline of talent for our workforce and impacting innovation through research and technology licensing. ”
- Bemetra Simmons, president and CEO of the Tampa Bay Partnership
“ ͵Ƶhas been instrumental in producing talent throughout various industry sectors from financial, accounting, insurance, hospitality, nursing and others. ͵Ƶplays a vital role in producing strong talent for our local economy. ”
- Lisa Krouse, CEO of the Sarasota County Economic Development Corporation
“ Access to a highly skilled pool of talent, fueled by USF’s strong pipeline of diverse technical talent, is the leading factor attracting tech CEOs and companies to our area. ”
- Craig Richard, president and CEO of the Tampa Bay Economic Development Council
“ The University of ͵Ƶ is a major community asset in attracting and retaining companies and talent to Manatee County. ”
- Sharon Hillstrom, president and CEO of the Bradenton Area Economic Development Corp