CF Economic Impact: $349.7 Million
Dec. 4, 2012
The College of Central Florida has released an economic study showing a $349.7 million impact on Marion, Citrus and Levy counties.
“Since CF was founded more than 50 years ago, it has played a significant role in the economies of the counties that we serve,” said Dr. Jim Henningsen, CF president. “Now we have the data to show the true extent of that impact.”
The study shows that CF is a sound investment from multiple perspectives. The college enriches the lives of students and increases their lifetime incomes. CF benefits taxpayers by generating increased tax revenues from an enlarged economy and reducing the demand for taxpayer supported social services. It contributes to the vitality of both local and state economies.
The $349.7 million impact includes:
· $7.4 million in student spending
· $33.9 million in college operations
· $308.3 million in student productivity
The analysis of investment effectiveness and economic growth was conducted by Economic Modeling Specialists Inc. in partnership with CF staff. EMSI uses an impact model that has generated more than 900 studies in the U.S., Canada, the U.K. and Australia.
The 77-page study, a four-page summary, and separate fact sheets for student, business, social and taxpayer perspectives are available at www.CF.edu/Impact. For information about the study, contact Dr. Jillian Ramsammy, executive director of Institutional Effectiveness and Government Relations, at 352-854-2322, ext. 1665.