{"id":132635,"date":"2026-01-26T21:15:08","date_gmt":"2026-01-26T21:15:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/132635\/"},"modified":"2026-01-26T21:15:08","modified_gmt":"2026-01-26T21:15:08","slug":"new-report-finds-usfs-economic-impact-nears-10-billion-annually-across-florida-including-7-billion-in-tampa-bay","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/132635\/","title":{"rendered":"New report finds USF\u2019s economic impact nears $10 billion annually across Florida, including $7 billion in Tampa Bay"},"content":{"rendered":"

By Althea Johnson<\/a>, University Communications and Marketing<\/p>\n

The University of South Florida today shared results from a new report that assesses
\n the impact of the university on the regional and state economy. According to the analysis,
\n USF generates an annual economic impact of nearly $10 billion across Florida, including
\n $7 billion in the Tampa Bay region. The results show that USF creates a positive net
\n impact, underscoring the university\u2019s role as one of the most powerful economic engines
\n locally and throughout the state.\u00a0<\/p>\n

Based on fiscal year 2023-24 data, the report shows that USF delivers substantial
\n returns for students, taxpayers, employers and communities through several key areas,
\n including workforce development, research innovation, health care and alumni productivity.<\/p>\n

The report comes as USF\u2019s marks the 70th anniversary<\/a> of its founding in 2026, highlighting how much the university\u2019s impact has grown
\n over that time.<\/p>\n

Among the key takeaways<\/p>\n

Overall impact: USF generated $9.8 billion in added income to the state of Florida which includes $6.6 billion in added income specifically for the Tampa Bay Region.<\/p>\n

Research Impact: USF received $738 million in research funding during FY 2023-24, up nearly 7% over the previous year, and an impressive increase of 35% since FY
\n 2021-22. It is important to note that USF achieved a record-breaking $750 million
\n in research funding in 2025.\u00a0<\/p>\n

Student Impact: USF bachelor’s degree graduates will see annual earnings that are $27,900 higher than a person with a high school diploma or equivalent working in Florida.<\/p>\n

Alumni Impact: USF enhances workforce readiness and productivity, contributing $7.3 billion in added income for the state economy which includes $3.9 billion in annual added income regionally. \u00a0More than 80% of USF graduates remain in Florida,
\n fueling the state\u2019s talent pipeline and helping meet the needs of employers.<\/p>\n

Healthcare Impact: USF Health delivers comprehensive care through more than 750 physicians and providers
\n from the Morsani College of Medicine and reports over 1 million patient encounters annually. \u00a0\u00a0<\/p>\n

\u201cThe numbers in the report are undeniably impressive, but as has been the case with
\n every other major accomplishment at USF in recent years, this is really about our
\n people,\u201d said USF Board of Trustees Chairman Will Weatherford. \u201cOur students, faculty,
\n staff, alumni, community partners and friends have long known what the rest of the
\n country is quickly learning, there is no stopping Bulls Nation when we work together,
\n and the Tampa Bay region, the state of Florida, and our nation are better for it.\u201d<\/p>\n

These outcomes are supported by USF\u2019s continually evolving academic and research initiatives,
\n including recent investments and formations of the Bellini College of Artificial Intelligence,
\n Cybersecurity and Computing, the Global and National Security Institute and the USF
\n Health\u2013Tampa General Hospital partnership, all designed to meet the demands of a rapidly
\n changing global workforce.<\/p>\n

The analysis also highlights the strength of USF\u2019s research enterprise, which attracts
\n significant external investment to the state of Florida and supports high-skill jobs
\n and innovation-driven growth. For the 12th consecutive year, USF ranks among the nation\u2019s
\n top 20 public universities for producing U.S. utility patents, according to the National
\n Academy of Inventors.\u00a0<\/p>\n

\u201cThe University of South Florida plays a vital role as an economic engine by preparing
\n students for successful careers, driving innovation, supporting jobs and enhancing
\n the overall quality of life for our communities,\u201d President Rhea Law said. \u201cUSF\u2019s
\n impact extends far beyond the boundaries of our campuses, reflecting our commitment
\n to fostering growth and opportunity across the Tampa Bay region and the state of Florida.\u201d<\/p>\n

\"Rendering<\/p>\n

Rendering of on-campus stadium<\/p>\n

\"rendering<\/p>\n

Rendering of Fletcher District<\/p>\n

The report does not account for two major projects that will significantly elevate
\n USF\u2019s economic impact in the coming years. USF\u2019s 35,000-seat on-campus stadium<\/a> that will host football games and other events throughout the year is currently under
\n construction and scheduled to open in fall 2027. In addition, phase one of the Fletcher District<\/a>, a vibrant, mixed-use community comprising residential, retail, dining, hospitality
\n and academic\/research facilities located on 27 acres just north of Fletcher Avenue,
\n is expected to begin construction in 2026. Both projects are poised to generate long-term
\n economic benefits for the City of Tampa, Hillsborough County and the region.<\/p>\n

More information about USF\u2019s economic impact can be found on the accompanying interactive website<\/a>.<\/p>\n

What others are saying about USF\u2019s impact<\/p>\n

Ken Hagan, Hillsborough County Board of County Commissioners Chair:\u00a0“USF is one of the county\u2019s largest and most important economic engines, with a truly
\n remarkable upward trajectory, and Hillsborough County is proud to have a long-standing
\n partnership with the university. We are excited to see the continued growth through
\n transformative projects like the Fletcher District and the on-campus stadium that
\n are shaping the university and County’s future.\u201d\u00a0<\/p>\n

Alan Levine, Florida Board of Governors Chair:\u00a0\u201cThe University of South Florida is one of the most impactful universities in the
\n nation \u2013 among the fastest rising, and a member of the prestigious Association of
\n American Universities. So, it is no surprise that the impact of USF economically has
\n grown to the billions, while their impact on the quality of life in Tampa Bay, Florida,
\n and the nation makes them a heavyweight among America\u2019s universities. \u00a0We are proud
\n of their Board of Trustees and their leadership.\u201d\u00a0<\/p>\n

Craig J. Richard, President and CEO of the Tampa Bay Economic Development Council:\u00a0“USF is one of the most important economic engines in Florida and a key driver of
\n high-skill, high-wage industry growth in the Tampa Bay region,” said. “Top tier institutions
\n within USF such as the Morsani College of Medicine and the Bellini College of Artificial
\n Intelligence, Cybersecurity, and Computing are turning Tampa into a global destination
\n for innovators and companies that are shaping our future.”<\/p>\n

Michael Simas, President & CEO of The Florida Council of 100: \u201cThe University of South Florida is a major force in Florida\u2019s growth, generating
\n billions in economic impact while advancing innovation and preparing the talent our
\n employers need to compete and thrive. USF strengthens our workforce pipeline, supports
\n industry partnerships, and helps drive the kind of long-term economic momentum that
\n benefits Tampa Bay and communities across the state.\u201d \u00a0<\/p>\n

Bemetra Simmons, President and CEO, Tampa Bay Partnership: \u201cBy aligning research, talent, and strategic partnerships, the University of South
\n Florida is shaping the future of our region; advancing innovation, supporting employers,
\n and creating billions in annual economic impact for Florida.\u201d\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"By Althea Johnson, University Communications and Marketing The University of South Florida today shared results from a new…\n","protected":false},"author":2,"featured_media":132636,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[135,137,136],"class_list":["post-132635","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tampa","tag-tampa","tag-tampa-headlines","tag-tampa-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/132635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=132635"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/132635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/132636"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=132635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=132635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=132635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}