PENSACOL A EXHIBIT 19 FLORIDA STATE COLLEGE OF MEDICINE – PENSACOLA REGIONAL CAMPUS TREND IN LOCAL ECONOMIC IMPACT, FY2003-04 THROUGH 2009-10,
The economic impact to the Pensacola area also began in 2002-03 with facility renovations, and expanded in 2003-04 with a partial class of third-year medical students, faculty and staff. Initial operating expenditures (2003-04) by the college and its affiliates also amounted to approximately $2.2 million, and have since expanded to more than $3.3 million on an annual basis. These spending levels equate to annual impacts ranging from $4.0 million to $6.3 million in this particular market (Exhibit 19). The cumulative total investment in the region has amounted to about $20.2 million in direct expenditures, which equates to an economic impact of nearly $37.5 million over its seven years of operations.
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