Economic Contributions of the University of Florida
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Transcript of Economic Contributions of the University of Florida
Economic Contributions of theUniversity 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 FloridaInstitute of Food and Agricultural SciencesFood & Resource Economics Department
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
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
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.
Consolidated Revenues to UF and Affiliated Organizations FY 2014-15
Total $5.01 billion; $3.34 billion from outside state (66.7%)
UF Student Spending FY 2014-15
Budget ItemResident,
On CampusNonresident, 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
UF Athletic Event Visitor Attendance FY 2014-15
Sport TotalResident,
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
UF Academic and Cultural Visitor Attendance FY 2014-15
Activity / Venue TotalResident,
NonaffiliatedNonresident
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.
UF Visitor Spending FY 2014-15
Expense Category
Athletic Event VisitorsEducational and Cultural
Event Visitors Total All Visitors
ResidentNon-
residentResident
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)
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.
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 ContributionsFY 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%
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
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 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
Questions or Comments?
Study report available at:http://fred.ifas.ufl.edu/news/UF-Economic-Contributions
Contact author at:Alan W. Hodges