New Report: USF’s Innovation Enterprise Infuses $400 Million Yearly into Florida’s Economy

TAMPA, Fla. (Nov. 16, 2016) - The University of South Florida System’s innovation and economic development efforts generate more than $400 million in statewide impact each year, sustain more than 3,000 jobs and return more than $52 million in tax revenue to local, state and federal coffers, according to a new analysis from a leading national firm.
The report by the Washington Economics Group (WEG) – which comes on the heels of USF earning designation by the Florida Board of Governors as an Emerging Preeminent Research University – is the first in-depth analysis to provide greater insight on the specific impact and return on investment for the university’s innovation efforts.
“USF commercialization strategy has a significant impact on Florida’s economy and has emerged as a force for the state’s increasingly competitive position in the global economy,” said Randy Berridge, president of the Florida High Tech Corridor Council, which, with USF, co-commissioned the WEG study. “USF’s strategic focus on research, commercialization and technology transfer efforts creates and sustains high-wage jobs while serving as a magnet to relocating companies drawn to Florida.”
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