The Economic Impact of Flagler College On Saint Augustine and Greater Jacksonville June 9th, 2008
Below is the executive summary from the Economic Impact Report of Flagler College St Augustine FL click here full report
Kevin B. Stokes
EconImpact LLC
Louisville, KY
502-645-7767
EconImpact@Bellsouth.net
www.Econimpactstudies.com
November 1, 2007
FLAGLER COLLEGE
ECONOMIC IMPACT
EXECUTIVE SUMMARY
This report examines the economic impact of Flagler College on the City of Saint
Augustine, St. Johns County, and Greater Jacksonville. The purpose of this report is to
detail the ways in which Flagler College contributes both directly and indirectly to the
local economy.
Greater Jacksonville
In the 2006-2007 fiscal year, Flagler College contributed $166 million to the area. The
College, its employees, students, and its visitors were responsible for $138 million.
Alumni contributed $17 million in increased earnings and $7 million in social benefits
due to positive lifestyle choices. Flagler made net contributions of $3 million to the
treasuries of the Saint Augustine and St. Johns County governments. 1,961 alumni reside
in Greater Jacksonville.
Saint Augustine Economy
Last year, Flagler College contributed $30 million to the Saint Augustine economy. One
of every $20 spent in the City was a result of the College’s presence. There are 175
alumni residing in Saint Augustine. Studies show that College educated residents enhance
the quality of life for any community. Flagler provides indirect benefits to the City of
Saint Augustine.
Saint Augustine City Government
In 2006 the City of Saint Augustine Treasury gained a net benefit of $420,000 from the
presence of Flagler College. This report finds that Flagler produced 5.1% of the City’s
revenues, yet only accounted for 3.3% of the City’s expenditures.
St. Johns County Economy
Flagler College contributed $48 million to the St. Johns County economy in 2006. There
are 746 alumni living in St. Johns County.
St. Johns County Government
Taking into account the cumulative contributions of Flagler College to the St. Johns
County Treasury, the County gained a net benefit of $2.5 million from the presence of the
College. Flagler produced 1.8% of St. Johns County revenues, yet only accounted for
0.7% of the County’s expenditures.
The benefits of the College can be seen in other ways:
Impact on Jobs
The College provided excellent employment opportunities for the area: it and its
subcontractors employed 276 full-time people and was responsible for creating 1,018
other new jobs in Greater Jacksonville
Construction Spending
Flagler College has invested $36.6 million on construction, remodeling, and landscaping
since 1996.
Conclusion
Flagler College provides numerous advantages for Saint Augustine and Greater
Jacksonville. The College offers education for area residents whose lifestyles and earning
capacities are measurably enhanced by its programs. The College’s presence also
generates many economic opportunities for local government and businesses. The
College attracts students and visitors from elsewhere and therefore brings in substantial
dollars from outside Greater Jacksonville. The City and the Region report net revenues
from the College’s presence. These economic advantages, coupled with the additional
cultural benefits the College offers, attest to the significant contribution of Flagler
College to Saint Augustine and Greater Jacksonville.
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