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Florida Gulf Coast University

Florida Gulf Coast University. Presented to The Taxation and Budget Reform Commission. Financial Overview or FGCU. Quick Facts. State appropriations account for 73% of the student’s education with tuition covering 27%

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Florida Gulf Coast University

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  1. Florida Gulf Coast University Presented to The Taxation and Budget Reform Commission

  2. Financial Overview or FGCU

  3. Quick Facts • State appropriations account for 73% of the student’s education with tuition covering 27% • However, the total cost (tuition + appropriations) of education is only 59% of FGCU’s budget. • For every dollar spent by the State, another $1.53 is generated from non-appropriation revenues with $0.71 being from auxiliary operations. • 1 out of 6 students at FGCU is currently not funded with State appropriations.

  4. Demographics of SW Florida Source: Florida Demographic Estimating Conference Database, updated July 2006 Source: American Factfinder/U.S Census data Median Age – 2000  45.6 2005  44.6 Bachelor’s degree or higher 2000  21.8% 2005  24.8% Median household income 2000  $41,569 2005  $46,832 Median home value 2000  $123,882 2005  $264,341

  5. Impact of FGCU on SW Florida Source: Jackson, G., FGCU: The economic community impact 2005-2006 (2007) • The overall economic importance for FY 2005-2006 was • $241 million in overall expenditures • 2,586 jobs created • $103 million in labor income. • This means • Each dollar spent by FGCU resulted in an additional $0.70 of expenditures for SW Florida. • Each employee hired by FGCU resulted in an additional 0.6 employees hired in SW Florida. • Each dollar of direct labor by FGCU resulted in an additional $0.50 of labor for SW Florida.

  6. Conclusion • For every dollar of state financial support for FGCU generated $4.12 in economic impact in primary market. • SW Florida is project to almost double in the next 20 years with a greater demand on bachelor degrees and above. • Without access to quality higher education, SW Florida’s economic engine will be substantially crippled.

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