The University of Florida (UF) generated $19.57 billion in economic output and supported more than 134,000 jobs across the state during the 2023-24 fiscal year, according to a new economic contribution report released Monday.
The report, prepared by UF’s Institute of Food and Agricultural Sciences Economic Impact Analysis Program, found that the university and its related entities contributed $12.61 billion in value added to Florida’s economy, a measure that includes wages, business income and taxes. The study also estimated that UF-related activity generated more than $2.76 billion in local, state and federal tax revenue.
“The University of Florida’s commitment to excellence translates into real economic benefit for Florida,” UF Interim President Donald Landry said. “Federal research funding, private investment and the work of our faculty and students surely advance the academic enterprise but also serve the people of Florida supporting jobs, bolstering businesses and strengthening communities throughout the state.”
UF Health hospitals and clinics represented the largest share of the economic impact, supporting 62,705 jobs and contributing $5.92 billion in value added. Core university operations accounted for another 57,077 jobs and $5.37 billion in value added, according to the report.
In total, UF and affiliated organizations spent nearly $10 billion on goods and services purchased from Florida businesses, creating additional indirect and induced economic effects throughout the state. Compared with fiscal year 2017-18, and adjusted for inflation, the university’s economic contribution increased 15.7% in output and 11.9% in employment, the report said.
The study additionally highlighted UF’s significant local influence in Alachua County, where the university and related entities supported 100,169 jobs and generated more than $14 billion in output, accounting for roughly half of total county employment.
UF also reported that its athletic events, cultural programs, educational activities and health care services attracted 6.85 million attendees during the fiscal year, including more than 2 million nonresident visitor-days that generated an estimated $307 million in travel-related spending.
The report additionally cited research and workforce impacts, noting UF received $1.138 billion in sponsored research funding and awarded 17,907 degrees in 2023-24. University officials said the findings reflect UF’s role in supporting jobs, research and economic activity throughout Florida.
