A cool $1.6 billion annually, according to a study for the Florida College System Council of Presidents.
Press Release What’s the total economic impact of Florida State College at Jacksonville, if you consider all of its activities and those of its former students in its service area, Duval and Nassau counties? A cool $1.6 billion annually, according to a study produced by Economic Modeling Specialists, Inc. (EMSI) for the Florida College System Council of Presidents. The comprehensive study addressed the economic impact of all 28 state colleges and community colleges.
On its own, Florida State College at Jacksonville contributes a total of $136 million just in income to Duval and Nassau counties each year.
The EMSI study includes two major analyses:
- -An investment analysis, which treats education funding as an investment and calculates the returns from the perspectives of students, taxpayers and society.
-An economic growth analysis, which measures added income in the region due to college operations, student spending and skills of past and present students still in the workforce.
Specific to FSCJ and the return on investment, the EMSI report determined that students benefit from a 17.6 percent rate of return on their investment in FSCJ. On average, an FSCJ student’s income increases by $6.60 for every dollar invested in FSCJ. Society benefits from the higher earnings-and the expanded tax base-an educated workforce brings, which in FSCJ’s case amounts to about $231.8 million each year.
The EMSI analysis of the region’s economic growth attributable to FSCJ was determined to be $123.5 million annually, based on income due to College operations. Additionally, spending by FSCJ’s non-local students (about 14 percent of its student body) amounts to about $12.5 million.
Academic credits earned by FSCJ students translate into higher earnings for students and increased output of businesses. The added income that can be attributed to these academic credits is estimated to be around $1.5 billion a year.
Fact Sheets and Executive Summaries of the economic contributions of the Florida College System and Florida State College at Jacksonville are listed below. For detailed information on the EMST study, visit Florida College System Economic Impact.
Florida State College at Jacksonville is a member of the Florida College System and is not affiliated with any other public or private university or college in Florida or elsewhere.
Florida State College at Jacksonville is accredited by the Southern Association of Colleges and Schools Commission on Colleges to award the baccalaureate and associate degree.