Flagler College is changing the world by investing in its community. Here are some ways we’re doing it.
Our Economic Value
According to the 2016-2017 Emsi Economic Impact Study, the college has had a total economic impact of $146.3 million on Northeast Florida. Through this study we look at our impact on the business community and our benefit to society.
Impact on Business Community
Operations Spending Impact
- Flagler College employed 538 full-time and part-time employees in FY 2016-17. Payroll amounted to $28.2 million, much of which was spent in Northeast Florida to purchase groceries, clothing, and other household goods and services. The college spent another $27.3 million to support its day-to-day operations.
- The net impact of college payroll and expenses in Northeast Florida during the analysis year was approximately $42.4 million in added income.
Construction Spending Impact
- Flagler College commissioned contractors to build or renovate its facilities during the analysis year, generating a short-term infusion of spending and jobs in the regional economy.
- The net impact of Flagler College’s construction spending in FY 2016-17 was $10.4 million in added income for Northeast Florida.
Impact of Spending
- Students- Around 80% of students attending Flagler College originated from outside the region. All of these students relocated to Northeast Florida. In addition, a number of students would have left the region if not for Flagler College. The expenditures of relocated and retained students during the analysis year added approximately $19.5 million in income to the Northeast Florida economy.
- Visitors- Out-of-region visitors attracted to Northeast Florida for activities at Flagler College brought new dollars to the economy through their spending at hotels, restaurants, gas stations, and other regional businesses.Visitor spending added approximately $5.4 million in income for the Northeast Florida economy.
- Over the years, students have studied at Flagler College and entered the Northeast Florida workforce with newly-acquired skills.
- The accumulated contribution of former students currently employed in the regional workforce amounted to $68.6 million in added income during the analysis year.
Benefit to Society
- Students- In return for the monies invested in the college, students will receive a present value of $213.7 million in increased earnings over their working lives. This translates to a return of $3.20 in higher future earnings for every $1 that students invest in their education. The average annual return for students is 11.9%.
- Taxpayers- Even with very little state taxpayer support, Flagler College still creates a significant amount of benefits for taxpayers. The net present value of the added tax revenue stemming from the students’ higher lifetime earnings and the increased output of businesses amounts to $61 million in benefits to taxpayers. Savings to the public sector add another $20.9 million in benefits due to a reduced demand for government-funded services in Florida. This sums together to $81.9 million in benefits to Florida taxpayers.
- Social- For every $1 that society spent on Flagler College educations during the analysis year, society will receive a cumulative value of $9.40 in benefits, for as long as the FY 2016-17 student population at Flagler College remains active in the state workforce.
Take a Deeper Look at Our Impact
The Flagler Effect Podcast
Volunteering In Our Community
Good citizenship is about supporting our community, and we do that by volunteering. See how our students, faculty and staff are giving back: