Economic growth in Florida is strongly influenced by the University of South Florida (USF), which has emerged as a powerhouse for innovation, workforce development, and community progress. The university not only delivers education to thousands of students but also functions as a significant economic driver for the state. With billions in direct and indirect impact, USF demonstrates how a higher education institution can act as a catalyst for opportunities across industries, businesses, and communities.
Table of Contents
Overview
Category
Impact/Value
Total Economic Impact
$6.02 Billion
Direct Economic Impact
$3.253 Billion
Indirect Economic Impact
$1.055 Billion
Induced Economic Impact
$1.709 Billion
Total Jobs Supported
68,704
USF Employees
16,277
Revenue Generated
$1.43 Billion
Grants and Contracts
$535.4 Million
Tax Revenue Generated
$600 Million
State Support
$427.8 Million
State Funding Return
$1 = $14.07 economic output
State Funding to Job Conversion
$6,227 = 1 Job
Economic Impact of USF
$6.02 Billion Economic Contribution
USF’s total impact equals the effect of hosting 10–15 Super Bowls annually in a single city.
This shows how significant its role is in Florida’s financial ecosystem.
Breakdown of Impact
Direct Effect: $3.253 billion from wages and purchases from local vendors.
Indirect Effect: $1.055 billion from supply chain and business-to-business activity.
Induced Effect: $1.709 billion from household spending of employees.
Economic Impact Breakdown
Type of Effect
Definition
Impact Value
Direct Effect
Spending on wages and purchases from Florida vendors
$3.253 Billion
Indirect Effect
Supply chain and vendor-to-vendor purchases
$1.055 Billion
Induced Effect
Household spending by employees in Florida
$1.709 Billion
Total
Combined impact across all activities
$6.02 Billion
Employment and Workforce Impact
16,277 Direct Employees
USF ranks as the 14th largest public employer in Florida.
These employees contribute not only to the university but to the local economy through spending and taxes.
68,704 Total Jobs Supported
Ripple effects from university spending extend employment opportunities into high-skill and high-wage industries, including:
Life sciences
Information technology
Financial services
Employment Impact
Category
Jobs Supported
Direct Jobs
52,095
Indirect Jobs
6,356
Induced Jobs
10,252
Total
68,704
State Support and Return on Investment
$1 in State Funding = $14.07 in Economic Impact
USF demonstrates outstanding efficiency in converting taxpayer dollars into economic growth.
Leveraged Government Support
Each dollar from state support attracts $3.33 in additional funding from non-state government sources.
Job Creation through Funding
Every $6,227 in state funding creates one job in Florida.
State Funding Impact
State Support Measure
Value/Return
Total State Support (2019–20)
$427.8 Million
Return on State Funding
$1 = $14.07
Leveraged Non-State Government Sources
$1 = $3.33
State Funding per Job
$6,227 = 1 Job
Revenue Generation and Research Power
$1.43 Billion in Revenue
USF secures revenue streams from multiple sources, including:
Federal government support
Private sector funding
Athletics and auxiliary enterprises
$535.4 Million in Grants and Contracts
A record amount that fuels research and innovation.
Research enterprise generates new technologies and intellectual property that benefit Florida’s innovation economy.
$600 Million in Tax Revenue
Generated through federal, state, and local taxes, strengthening public infrastructure and services.
Revenue and Research
Category
Impact Value
Total Revenue Generated
$1.43 Billion
Research Grants & Contracts
$535.4 Million
Tax Revenue Contribution
$600 Million
Community and Regional Impact
Student Success
Over 50,000 students benefit from USF’s programs, preparing a highly skilled workforce.
Alumni play leading roles in industries including nursing, hospitality, insurance, and technology.
Business Growth
USF serves as a talent pipeline for companies across Tampa Bay and Florida.
Startups and entrepreneurs thrive with support from USF’s innovation ecosystem.
Addressing Challenges
University research actively supports efforts in:
Climate change and coastal challenges
Public health and medical needs
Technological advancements for economic competitiveness
Voices of Support
Community and business leaders consistently highlight USF’s essential role:
J.P. DuBuque, Greater St. Petersburg Area Economic Development Corporation “USF is uniquely positioned to tackle community challenges and grow the skilled workforce.”
Bemetra Simmons, Tampa Bay Partnership “The university drives innovation and talent, boosting the Tampa Bay region.”
Lisa Krouse, Sarasota County EDC “USF produces strong talent across industries, fueling the local economy.”
Craig Richard, Tampa Bay Economic Development Council “USF’s technical talent pipeline attracts tech CEOs and companies.”
Sharon Hillstrom, Bradenton Area EDC “The university is a key asset in attracting and retaining companies.”
Key Highlights in Figures
$6.02 billion economic impact.
68,704 jobs are supported across Florida.
$14.07 generated per $1 state funding.
16,277 direct employees.
$535.4 million in research contracts.
$1.43 billion in overall revenue.
$600 million in tax revenue.
Moving Forward
USF’s contribution to Florida extends far beyond academics, positioning it as a vital driver of economic growth, research innovation, and workforce development. The university generates billions in economic activity, thousands of jobs, and groundbreaking research that benefits industries statewide. By transforming state support into measurable outcomes, USF proves itself as a central force in shaping Florida’s future while continuing to create opportunities for communities, businesses, and individuals alike.
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