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Florida State College System Economic Report

HOPE Reception

March 2013

The second HOPE Reception honored Herbert W. Scheidel Community Leadership in Action Award winners, as well as Miyuki and the late Herbert Scheidel, founders of the Scheidel Scholarship, for their commitment to education.

The Florida College System released its report “The Economic Contributions of the Florida State College System.” Remarkably, FSCJ’s total activities and those of its former students in Duval and Nassau counties, produces a $1.6 billion economic impact. STM ENT Stakeho lder


Student perspec tive Social pers pective Taxpayer perspec tive

n of the



System The Econo




9.4% Soc ial



Rate of

Return 16.8% NA

Pers pec







tive From the 13.8 perspect of educ ation accr ive of society as a whole, ue to diffe students and weig the from h them state’s econ the Florida rent publics. For benefits taxp ayers spen against the College example, Syst while the omic base thro $1.2 billi t ugh thei em expand the ida College Syst in FY 2011-12 on more prodbusinesses that r higher to supp that state em. estimated employ ort the that the Following this These beneuctive through them also incomes, bene FlorFlor proc fit/c the stud ida Coll ost ratio effects, cont fits, together ents’ adde become mon ege Syst edure, it is with the ey invested of 26.2, i.e. em prov d skills. ribute every income ides in yields a to the Flor an estimated $3.0 associated ripp cumulati the Florida Coll dollar of state a le ida econ billion in tax ve of $26. ege Syst Studies omy each taxable all Florida resid 20 em toda in have also bene ents year. and avoi y higher level shown ded socia , in terms of adde fits that accrue that, as to l costs. d taxable or abuse s of education stud ents income , they are alcohol, less likel achieve Taxp aye efits, or draw welf y to com r Pers pec dollar savin mit crimes. Thisare or unemploy smoke Und er the taxp tive ment bento approximgs (i.e., avoided translates into ayer pers accrue associate cost ately $15 benefits d incr to the state gove pective, only 8.6 mill s) to the public eased that are bene rnm ion annu equal Florida incident expe ndit tax collections ent are counted, fits that ally. Thes College al to the ures . and redu e are namely, System future, operatio ced gove and for ns of the income, the For exam ple, rnm workforc as long as stud accrue for year in taxpayer e. s into the increased state ents rem perspect plac e of incr ent ease d ive incl ain activ tax rece udes ipts from e in the Similarly, in place of those high only the Tota l Ann ploymen over er t ual Ben includes and health savin all crime, welf incomes. efits to Due to are, une only thos gs, the taxp the Flor the Flor min state ida Pub ayer pers ida Coll governm e that translate lic pective ege Syst to ent expe ($ Mill em ions ) nditures actual reduction Note here . s wanted that government by the pub often undertak in the mar lic, but es whic returns ketplace. This mea h may be unp activities are Added investme generally not ns that positive rofitable Social expe nts. econ income, even a sma From the taxp cted from gove omic savings, $3,046.6 to or grea ll positive retu ayer perspective, rnment $158.6 rn (a bene therefore greater thanter than 1, or fit/c , ost a rate of ratio the 3% investme return equa equal nt analysis) discount rate l to or used in would be For the a favorable the taxpayer Florida outcome College positive . o compare System, returns: the resu a efit/cost lts indicate to the futu benefits to cost ratio of rate of return of 2.9 invested s, re, disc in the Flor (every dollar 9.4% and a benount them we project ben of state ida Coll efits $2.90). back to tax mon ege Syst the pres ey em toda ent, y returns

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Gro wth The Flor An aly sis ida Coll EXECUTI ege in three ways: (1) System affects the Flor the state through ida economy faculty and College System, the in-state purc create jobs hase including who com staff; (2) thro wages paids of of out-of-s and incomes for ugh e busi tate stud to lege increase from outside the the spending ents atte nesses. The spen of in System generates nding the effects brea the skill base of state; and (3) throstudents adde d appr d income the Florida k down ugh the C in the Flor oximately $24 as follows: state workforc .9 million e. These ida econ omy each Coll ege Stud ent year. Ope rati Prod ucti ons Effe The Flor vity Effe Every year ct ida Coll ct ege the earn and join students leave ings of its System crea the Flor or rejoin tes inco its own facu ida skill lty the state me thro College operating and staff s translate ugh System wor , for taxe s and othe and capital expe as well as through state economy to higher inco kforce. Thei r added nditures economy me and r monies . Based . Adjusting and credit a more in supp on the robust is estim ort of the withdrawn from histo over the production of ated that the Flor rical enrollme past 30-y $1.3 billi the state Florida College the state accu nt ida Coll ear peri on Syst mul economy ege Syst to the oper in added labo receives em, it former ated contribution od, it is estim r and ated that em a net of ations of students year. the the Flor non-labor inco at the Flor of instruction me due completers and ida Coll received ida Coll ege Syst non by $25 ege -com .2 billion System em each (both in income pleters) annu Stud ent ally adds to Florida. Spe ndin some g Effe ct Students Tota l Effe from outs ct and boar ide the state Alto geth d, er, the spen miscellan transportatio n, entertaind money for room the activities average annu eous pers al adde of onal expe men nses. Thes t, and other former students the Florida Coll d income due ege Syst to equals e expendit mately equa em and ures l to 4.0% $26.6 billion. its This of the tota ECO NO MIC IMP l Florida is approxieconomy AC T AN . ALY Added





College operatio ns effec Student t spending effect Total spen ding effe ct Student producti vity effe GRAND ct TOTAL

$1,345,1 66,000 $24,854, 000 $1,370,0 20,000 $25,201 ,180,000 $26,571 ,201,000

Tota l Add ed

Inco me in Flor ($ Billi ida ons )

Spending effect, $1.4


The resu lts of this College study dem System onstrate is ple pers that the pectives. a sound inve Florida stme It increase by gene s their lifet enriches the lives nt from mul ti- econ rating increase ime inco of student d ta om m

Productivity effect, $25.2

March 15, 2013

Florida State College at Jacksonville Golf Classic April 29, 2013 The annual Golf Classic at Deerwood Country Club drew 116 players who generously supported FSCJ’s BlueWave student athlete scholarships, raising more than $36,000.

Take Stock in Children Senior Recognition Night April 29, 2013 Dr. Nikolai P. Vitti, superintendent of Duval County Public Schools, was keynote speaker for the annual Take Stock in Children Senior Recognition Night, where 115 graduating high school seniors were congratulated for their successes.


Annual Report 2012-2013  
Annual Report 2012-2013  

Florida State College Foundation Annual Report