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

awhodges@ufl.edu352-294-7674