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T H E E C O N O M I C I M P A C T o f the UNIVERSITY OF CENTRAL FLORIDA

Economic Certainty How UCF delivers thousands of jobs and b i l l i o n s o f d o l l a r s i n e co n o m i c i m pac t


How UCF delivers thousands of jobs and billions of dollars in economic impact Great things happen when one of the nation’s fastest growing universities is in one of the fastest growing cities. Under President John Hitt’s leadership, enrollment at UCF has doubled, research funding has tripled, and the number of doctoral degrees awarded each year has quadrupled. Together UCF and Orlando attract some of the brightest minds and innovative companies. People may come here for the mild weather, but they stay for the variety of educational, entertainment and work opportunities. UCF contributes to the region’s success by assessing the community’s needs and building programs to meet those needs. Programs built from shared goals range from business to medicine and from science to digital media. But our contribution to Central Florida does not end there.

Unless otherwise noted, data is from fiscal year 2007 or the most current as of this printing.


Strong research institutions that serve their regions will advance our state’s shared economic goals.

UCF PRESIDENT John C. Hitt

Tom Ackert, ’92 Director, Orange County Convention Center James Atchison, ’92 General Manager, Sea World Orlando Ken Bradley, ’85 CEO Florida Hospital, Winter Park Olga Calvet, ’71 Vice President/CFO, Palmas, Inc. Lee Constantine, ’74 Florida Senator Bill Cowles, ’76 Orange County Elections Commissioner Rich Crotty, ’72 Former State Senator/ Currently Orange County Mayor Karl Hodges, ’82 Vice President, Strategic Development, Orlando Regional Healthcare System Jim Hunt, ’77 Vice President/CFO, Walt Disney Mark McHugh, ’98 CEO & President, Gatorland William Parsons, ’93 Director, NASA’s Kennedy Space Center Rick Walsh, ’77 President, KnobHill Group Al Weiss, ’76 President, Worldwide Operations, Walt Disney Parks and Resorts

Major Employer The spirit and strength of any community rests with its citizens’ ability to get and keep jobs. UCF, the seventh-largest employer in the region, is proud of its role for impacting more than 25,000 jobs. These jobs and related activity add $2 billion to our economy. UCF and its neighbor, the Central Florida Research Park, affect more than 46,000 jobs and have an economic impact of $3.8 billion. Many of the 10,000 employees in the Research Park work with UCF researchers and students on projects in the sciences, engineering, photonics and optics, modeling and simulation, and health-related fields, high-paying jobs in high demand industries. Educated Workforce With 91,747 alumni living in Central Florida, UCF produces a cadre of educated alumni who live, work and pay taxes in Florida. UCF offers hundreds of majors to ensure a diverse, educated community and skilled employees. Our students become teachers, firefighters and police officers. And nurses and doctors. And business leaders and scientists. Each year UCF graduates 10,000 students. Many stay and enter the workforce armed with an education that translates into greater earning power. Some go out–of-state, adding to the growing national reputation of UCF and Orlando. UCF professors also help and work side-by-side with the community on joint projects—from helping underprivileged children to read to protecting the environment and from developing health-care solutions to alternative energy solutions. Regional Campus Workforce Development Stretching across seven Florida counties, UCF and its 11 regional campuses work with local community colleges to provide customized programs close to where students and residents live and work.


IMPACT on OUTPUT FY ’07 Direct Impact

UCF

$589 million

UCF Student

$235 million

Research Park

$1.14 billion

Indirect ImpacT

$206 million

Induced ImpacT

Total Impact

$600 million

$1.39 billion

$70 million

$265 million

$570 million

$43 million

$699 million

$1.88 billion Total $3.84 billion

IMPACT on Employment FY ’07 Direct ImpacT

Indirect Impact

Induced Impact

Total Impact

UCF

8,996

1,989

6,534

17,519

UCF Students

4,308

744

3,104

8,156

Research Park

10,250

535

9,920

20,705 Total

46,380

Source: Dr. Sean Snaith, Director, UCF Institute for Economic Competitiveness


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ince 1968 UCF has produced engineers and computer scientists for industries involved in defense, aerospace or construction.

Today UCF’s reach is worldwide in areas like simulation and training, and optics and lasers. And in 2009, we will admit students to the new College of Medicine. These students join UCF scientists

St ude n ts STUDY:

1. Psychology

already solving issues related to cancer and cardiovascular, infectious and neurological diseases.

2. Molecular Biology & Microbiology

Orlando does a brilliant job of capturing the worldwide tourism

3. H  ospitality Management

industry with the UCF Rosen College of Hospitality Management.

4. Biology 5. Finance

market. UCF capitalizes on being home to the world’s largest The Rosen College is the largest, most modern facility ever built for a hospitality management program. UCF knows that a region’s economic stability can hinge on its

TOP

5 STATES St u de nts come f rom:

ability to withstand natural ups and downs, to minimize the downturns and maximize the upturns, and to innovate and grow. And with more than 200 areas of study, UCF is contributing to the creativity and vitality of the region. UCF College of Medicine The College of Medicine is projected to be a permanent

1. Florida

contributor to Orlando’s economy. According to a Milken Institute

2. New York

study, the college will more than pay for the state investment by

3. New Jersey

year 10 with the creation of 6,470 jobs, wages of $517 million and

4. Pennsylvania

a total economic impact of $1.4 billion.

5. Massachusetts

A life sciences cluster and the UCF College of Medicine combined, according to the Milken study, could create an additional 25,730 jobs, $2.3 billion in wages and $6.4 billion in economic activity by year 10. Soon the College of Medicine and the Burnham Institute will be neighbors at Lake Nona, bringing together some of the most innovative researchers in the world. The health sciences city will provide the facilities and foster a collaborative spirit where scientists and researchers from Burnham will join the UCF College of Medicine and its Burnett School of Biomedical Sciences to solve some of the world’s greatest health challenges.


The medical city at Lake Nona includes:

Partnership University

The UCF College of Medicine and medical library, Burnett School of Biomedical Sciences, UCF College of Nursing, and departments from the UCF College of Health and Public Affairs.

successful partnerships. And UCF has solid relationships

The Burnham Institute is building a 300-person research laboratory to focus on cancer, neuroscience and aging, and infectious and inflammatory diseases.

and to earn more than $17 million in business from the

The University of Florida plans to build a 50,000-square-foot joint research facility with Burnham. A new $560 million Orlando VA Medical Center and a new Nemours Children’s Hospital are planned for the medical city.

Strong relationships and a shared vision lead to with Central Florida built on mutual respect and shared goals. Outstanding relations made it possible to receive commitments of $114 million for the College of Medicine, to build the Bright House Networks Stadium, Department of Defense last year. Working with organizations like the Metro Orlando Economic Development Commission, Orange County and the City of Orlando led to successful projects including a Venture Lab, a Small Business Development Center, a Entrepreneurship Center and a Jet Blue training center, to name a few. Partnerships were key to the formation of many of UCF’s top research centers including the world-famous CREOL (Center for Research and Education in Optics and Lasers). Partnership activity also contributed to the formation of the Florida High Tech Corridor. The corridor focuses on growing the high-tech industry in a 23-county region. Since its inception in 1996, the corridor has partnered with more than 275 companies on 800 research projects and has invested $52 million. A partnership with local and state organizations and Electronic Arts, creators of Madden NFL, led to the creation of the UCF Florida Interactive Entertainment

VIDEO: College of Medicine Groundbreaking

Academy, which provides a master’s degree in interactive entertainment. These partnerships and others bring money and jobs to the region and the state while creating more opportunities for the university’s students, faculty, alumni and community members.


Research advances our understanding of the world and benefits our economy, both of which make our lives better.

UCF PRESIDENT John C. Hitt

U

CF researchers attract more than $100 million annually. These dollars help to strengthen and diversify the local

and state economy. Last year, a record $121 million came from federal, state and industry partners. The work it inspires does not sit on a dusty shelf. UCF aggres足 sively pushes the work from the laboratory to the marketplace. UCF promotes economic development in the region by aiding in the transfer of technology and business skills between university and industry teams. From nanoscience to optics and photonics, from simulation and training to forensic science, we work together to develop new technologies with mutual objectives.

In 2006, UCF earned 20% of all patents awarded to Florida universities

UCF COLLEGES in Research Dollars

1. College of Education

$ 2 1.1 million

2. College of Engineering and Computer Science

$ 20.9 million

3. College of Optics and Photonics

$ 16.2 million

4. College of Sciences

$ 9.3 million

5. College of Medicine, Burnett School of Biomedical Sciences

$ 7.7 million


10-YEAR RESEARCH FUNDING HISTORY 1998-2007 $1 3 0 M — $121.4 $1 2 0 M — $1 1 0 M —

$103.6

$104.3

$100 M — $ 88.8

$ 90 M —

$ 82.8 $ 80 M —

$ 75.4

$ 70 M —

$ 64.9

$ 60 M —

$ 52.8

$ 50 M — $ 40 M —

$ 36.5

$ 37.5

$ 30 M — $ 20 M — $ 10 M — 1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

The following UCF departments assist Central Florida companies with starting, managing and growing their businesses, contributing to a stronger, more diverse economy.

UCF Office of Research and Commercialization UCF Technology Incubator UCF Office of Technology Transfer Center for Entrepreneurship and Innovation UCF Orange County Venture Lab UCF Small Business Development Center Disney National Entrepreneurship Center Small Business Advisory Board Council UCF University Economic Development Institute for Economic Competitiveness at the UCF College of Business Administration


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U

CF students and faculty go beyond the classroom to reach out, mentor and share in the spirit of a true metropolitan

university. Student volunteers reach 24,000 children in at-risk schools with more than 1,000 students volunteering. More than

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2,000 business students volunteer more than 80,000 hours and contribute $1 million in economic aid to local, national and international nonprofit organizations as part of their servicelearning experience. The co-op program at UCF is the largest cooperative education

UCF draws from and proudly contributes to Central Florida. From hospitality to health care, and from science to stage, UCF is a cornerstone in both the region’s growth and identity.

program in the Southeast with 19,000 students participating in co-op, internships, practica, clinicals, senior design and undergraduate research. Why do we do this? The reward for UCF is not what we get out of it, but what we become from it—a better community partner and a better university. UCF by the Numbers

• Sixth-largest university in the nation • Second-largest undergraduate enrollment in the nation • Thirty-seventh largest graduate school in the country • Second-largest number of National Merit Scholars in the state (first time in college) • 10,000 students graduate annually • 170,000 degrees awarded • 95,000 UCF graduates living and working in the region


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Economic Certainty 2008  

Brochure about UCF's economic impact on Central Florida