USF Economic Impact Report
Bronze bull statue with dynamic pose in front of a modern USF building, surrounded by greenery. Text overlay reads "USF Economic Impact Report."
Creating Opportunities
USF stands at a defining moment, marking 70 years of transformative progress that has strengthened the university鈥檚 capacity for growth. As detailed in the 2023鈥24 Economic Impact Report, USF remains a core driver of Florida鈥檚 economic performance. At the center of this advancement is the university鈥檚 commitment to investing in its people, a strategic priority that delivers measurable economic and societal benefits across the region and the state.
Bold Investments. Measurable Impact.
USF generated $9.8 billion in added income to the state of Florida which includes $6.6 billion in added income specifically for the Tampa Bay Region.
Compiled by a team from various units within USF and in partnership with Lightcast, this study uses a wide array of data that are based on several sources, including the FY 2023-24 academic and financial reports from USF.
Among the Report's Key Findings:
Ripple Effect
USF鈥檚 total impact can also be expressed in terms of jobs supported. The $9.8 billion statewide impact supported 111,246 jobs, and 6.8 billion regional impact supported 76,649 jobs within the region.
Student Impact
Over 80% of USF鈥檚 total enrollment comes from the state of Florida and 52% of students attending USF originate from within the Tampa Bay Region. The expenditures of relocated and retained students in the region during the analysis year added approximately $341.2 million in income for the Tampa Bay Region economy.
Return on Investment
In return for their investment, USF鈥檚 students will receive a stream of higher future earnings that will continue to grow throughout their working lives. For example, the average USF bachelor's degree graduate from FY 2023-24 will see annual earnings that are $27,900 higher than a person with a high school diploma or equivalent working in Florida.
Annual Earnings by Education Level in Florida
The average bachelor's degree graduate from USF will see an increase in earnings of $27,900 each year compared to a person with a high school diploma or equivalent working in Florida.
Research Impact
USF received $738 million in research funding during FY 2023-24, up nearly 7% over the previous year, and an impressive increase of 35% since FY 2021-22. It is important to note that USF achieved a record-breaking $750 million in research funding in 2025.
Alumni Impact
USF鈥檚 investment in student workforce development has generated substantial economic returns. By equipping students with in-demand skills, USF enhances workforce readiness and productivity, contributing $7.3 billion in added income for the state economy which includes $3.9 billion in annual added income regionally.
USF Health Impact
USF Health is the largest multispecialty physician group on Florida鈥檚 West Coast, delivering comprehensive care through more than 750 physicians and providers from the Morsani College of Medicine and reporting over 1 million patient encounters. In partnership with Tampa General Hospital, USF Health is part of one of the nation鈥檚 leading academic health systems, with Tampa General ranked among the top 50 hospitals nationally.
The USF Health Morsani College of Medicine is driven by nationally recognized researchers whose work is advancing the future of health care through sustained growth in research and innovation. Supported by strong National Institutes of Health (NIH) funding and cross-disciplinary collaboration, the college has earned a Tier 1 designation for medical research from U.S. News & World Report and now exceeds $380 million in annual research funding, nearly half from the NIH. The USF鈥揟ampa General Hospital partnership expands the institution鈥檚 economic influence. When the full impact of Tampa General Hospital is attributed to USF, the total contribution reaches $13.4 billion in added income to the Florida economy and $9.8 billion in added income to the Tampa Bay regional economy.
What They Are Saying
-鈥疉lan Levine, Florida Board of Governors Chair
-鈥疌raig J. Richard, President and CEO of the Tampa Bay Economic Development Council
-鈥疢ichael Simas, President & CEO of The Florida Council of 100
-鈥疊emetra Simmons, President and CEO, Tampa Bay Partnership
-鈥疜en Hagan, Hillsborough County Board of County Commissioners Chair
USF Economic Impact Executive Summary
In this Executive Summary, the breadth and depth of USF鈥檚 economic impact can be seen in all aspects of the university鈥檚 operations 鈥 from the students it educates, to the faculty and professional staff it employs, to the talented professionals and entrepreneurs who power a modern innovation economy, to the construction projects that shaped the campuses in Tampa, St. Petersburg and Sarasota-Manatee.
Read more about how USF's Economic Impact is creating opportunities.