USF's impact on Tampa Bay: Try $3.2 BULLion

[ChiTownBull]

http://tampabay.bizjournals.com/tampabay/stories/2006/01/16/daily24.html

The numbers are in, and the Tampa Bay region's fourth largest employer, the University of South Florida with four campuses and more than 40,000 students, contributed $3.2 billion to the economy last year.

"When I first ran for office 15 years ago, I was told that USF had the same economic impact of a Super Bowl every year," said Jim Norman, chairman of the Hillsborough County Commission. "But looking at that number, it seems to have tripled."

USF, which is celebrating its 50th anniversary, started with nothing more than $50,000 and three buildings along Fowler Avenue in northern Hillsborough County. Tampa Mayor Pam Iorio, whose father John Iorio, joined USF's staff as an English professor back in 1963, told a crowd at the school's new USF Research Park Tuesday that she remembers playing in the sand dunes that used to border the campus.

"What is good for Tampa is good for USF," Iorio said. "And what is good for USF is good for Tampa."

A third of the school's economic impact, $1.2 billion, comes from faculty and staff payroll, according to figures released by the school. Another $635.6 million comes from school operations, while $597.2 million comes from state and federal financial aid sought by students.

Richard Beard III, chairman of USF's board of trustees, pointed out that the school spent more than $206 million on construction last year.

"Today, on four campuses, we have 370 buildings across Tampa, Sarasota, Lakeland and St. Petersburg," Beard said. "But even with that, we still don't keep up with the demand."

USF will increase that expenditure in 2006, he said, with $270 million being earmarked for construction. Money for those projects comes from government funds, bonds and individual contributions. Projects for 2006 include a new student center to replace the 50-year-old facility on the main campus, more student housing, a new Lakeland campus, a Tampa General Hospital Clinic and more parking facilities among other plans.

Beard also pointed out the $344 million the school received in research last year, making USF one of the two fastest growing universities in terms of research in the United States, and the second largest research university in Florida.

The school also accounted for $155.8 million in state funding as well as another $28.2 million in student spending contributing to the overall economic impact. USF operated last year on a $1.1 billion budget serving 43,021 students.

Economic impact releases such as this are an attempt to summarize the measurable effects of educational institutions on local and state economies, according to a 2001 study by the National Association of State Universities and Land Grant Colleges. While studies like this describe direct spending by a university and its students, faculty and staff, it does not estimate other factors that can contribute to economic impact like when faculty and students lend their expertise to area companies, government agencies and nonprofit organizations, the school said in a press release.

USF President Judy Genshaft told attendees at the press conference Tuesday that there are a lot of universities vying for all kinds of dollars from different sources, but she welcomes that kind of competition.

"There is satisfaction in winning a competition," Genshaft said. "The goal will draw us, and the result will be an even better educational institution."

[The_Reaper]

Just wish more of Tampa would buy seasoners for USF Athletics. I really amazes me that there is a 80,000 person waiting list for the Bucs, but none for USF football. Seems to me if you want football action, go with a good thing...USF. Besides, it sure is cheaper!!!

[E.T.]

We just don't have enough TRUE college football fans in Tampa.

Go BULLS !!!

[mutt]

The more we win the more people we'll get... It's like that with everything. I remember when you couldn't GIVE Bucs tix away... Now the 3rd level seats are 70 bucks a piece.    

Start recruiting fans for next season, they'll be happy you did.

[Joe]

We just don't have enough TRUE college football fans in Tampa.

Go BULLS !!!

We do, they just happen to like other teams. over 25% of UF's season ticket base is out of Tampa. 15% of FSU's.

[smazza]

et- usf has done little to attract new fans and keep old ones

usf is coming close to screwing up a great thing

ftu/ou/oc blew it

usf better be careful

[Guest BullsFans]

The more we win the more people we'll get... It's like that with everything. I remember when you couldn't GIVE Bucs tix away... Now the 3rd level seats are 70 bucks a piece.    

Start recruiting fans for next season, they'll be happy you did.

In the beginning the Buc's did not have trouble filling seats at Tampa Stadium ( it held more than RJS)for years including 26 straight losses...They had something called Effective Marketing.

Season ticket sales dropped off (IMO) because of  the attitude of Hugh Culverhouse towards the ticket holders, and years of not doing what was needed to improve the product.  

[Guest BullsFans]

et- usf has done little to attract new fans and keep old ones  

Sad but true.

[Apis Bull]

They had something called Effective Marketing.

Actually, thay had something called, "Being the only game in town"

[Guest BullsFans]

Actually, thay had something called, "Being the only game in town"

How many College Football teams are in town?