Sept. 26, 2012
Flagler College has more than 3,000 alumni working in the Greater Jacksonville community, and the college contributed $218 million to the area during the 2010-2011 fiscal year, according to a recent study.
The economic impact study was produced for the college by EconImpact LLC of Louisville, Ky., one of the leading providers of economic impact studies for private colleges. The purpose of the report was to detail the ways in which Flagler College contributes both directly and indirectly to the local economy.
According to the report, during the 2010-2011 fiscal year, Flagler College contributed $218 million to the Greater Jacksonville area, including St. Johns, Duval, Flagler, Baker, Clay and Nassau counties. The college, along with its employees, students and visitors, were responsible for $179 million; alumni contributed $24 million in increased earnings and $12 million in social benefits due to positive lifestyle choices.
The City of St. Augustine treasury received a $343,214 net benefit due to the presence of Flagler College. St. Johns County received a $2.7 million net benefit.
Some other highlights of the report:
• The college provided full and part-time employment opportunities for 412 people.
• There are 3,045 working Flagler alumni in the Metro Jacksonville area.
• The Flagler College community contributed $188,482 in community service activities in 2011: $101,764 by Flagler students and $86,718 by Flagler employees. Flagler College students participated in 7,428 hours of community service in Metro Jacksonville.
• Visitors who came to St. Augustine because of Flagler College brought more than $18 million in new money to Greater Jacksonville in 2011
• The direct spending by the college, its employees, students and visitors was $78 million. This money was spent and re-spent several times in the community. The amount of the turnover was $100.7 million in 2011.
"The college produces alumni who earn more than individuals who did not complete a degree in higher education," said Kevin Stokes, who wrote the final study. "The college provides employment opportunities, not only through jobs on campus, but also through jobs generated by business the college and its members conduct locally."
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