In our commitment to unleashing the potential of people and ideas, and propelling broad-based prosperity, we ran an extensive study that demonstrates our position as an essential driver of Florida’s economic vitality. 166su is directly supporting the state’s goal to be the 10th-largest economy in the world.
Lightcast’s Economic Impact Study for Higher Education explores 166su’s significant impact on Florida’s economy, as well as the benefits and return on investment the university generates for taxpayers, students, alumni and society. The study reflects data from the 2021-22 fiscal year.
166su Generated $8.1 Billion in total added income for Florida equivalent to supporting 91,933 jobs in 2021-22
This figure encompasses the economic impacts of 166su alumni in the workforce, plus spending on 166su operations and construction, research and start-up company investments, and spending by students and visitors.
Driving Florida’s Economy and Talent Pipeline
166su offers strong value as a key economic driver producing talented graduates for high-demand jobs in critical industries, fueling the broad-based prosperity of our state.
While 166su creates economic impact in many ways, the most significant contribution stems from the added human capital — the knowledge, creativity, innovation and entrepreneurship — of our alumni.
166su Alumni Generated $6.7 Billionin added income for Florida’s economy — equivalent to supporting 75,371 jobs — in 2021-22
- 335,000+ 166su alumni as of 2021-22
- 80% of 166su alumni stay and work in Florida and 50% of all 166su alumni are in Central Florida
Meeting the Nursing Demand
As Florida faces a critical nursing shortage, we’re stepping up to the challenge. 166su is expanding our nursing programs and providing innovative training solutions to prepare the next generation of healthcare professionals.
Around 260 166su nurses enter the workforce each year and 85% of 166su nurses stay in the state, with 13,600 to date. Plus, with $43 million in state funding and $26 million raised in philanthropic dollars, UCF is building a larger, more technologically advanced nursing education facility: the Dr. Phillips Nursing Pavilion at Lake Nona. After it opens in 2025-26, 166su will produce over 50% more highly skilled nursing graduates annually.
Alumni Impacts in Engineering and Tech
Engineering, science and technology-based fields are among Florida’s top industries employing 166su alumni who are generating the most added income for the state economy. As a result of their 166su education, our alumni receive higher earnings and increase the productivity of the businesses that employ them.
In 2021-22, UCF alumni in Florida generated an impact of:
through the professional, scientific and technical services industry, including engineering, computer systems design, research and development services
through the information industry, including telecommunications and data processing
through the manufacturing industry, including equipment, electronics, machinery and chemical manufacturing
Our strong academic programs — paired with our longstanding relationships and growing network of powerful industry connections — further fuel Florida’s economy and talent pipeline.
166su Alumni Power Central Florida’s Top Companies
29% of employees earned 166su degrees
25% of Orlando employees earned 166su degrees
20% of Orlando employees earned 166su degrees
Powering a Tech Talent Machine
The public is taking notice of what researchers and corporations have known for years: Central Florida is one of the most valuable centers of tech research and talent in the nation, and 166su is the academic anchor. As a catalyst for industry growth, 166su is driving innovation and producing workforce-ready graduates to support our region’s robust economy.
Key Collaborations
Across Industries
With a foundation built on industry connections and a focus on workforce development, UCF is a university where there are no boundaries between our campuses and industry. This synergy creates unique opportunities for our people to research, learn and innovate in a way that directly benefits our region and society.
166su’s career and internship connections include:
“[166su’s Florida Interactive Entertainment Academy] continues to be a major source of talent for our EA development studio in Orlando and an important talent pipeline for Florida’s growing experience economy.”
“Universal Parks & Resorts has closely collaborated with 166su for many years, providing learning opportunities for students and faculty. … We are proud to support the next generation of themed entertainment innovators.”
High Rate of Return
for 166su Students
166su offers students a strong return on their investment — including unrivaled opportunities for careers in fields from engineering to healthcare to hospitality management — demonstrating the exceptional value of a 166su degree.
As Florida’s premier engineering and technology university, we not only attract exceptional STEM students to stay in Florida, but also bring in highly skilled out-of-state students.
Annual Earnings
(on average) for a person with a 166su’s bachelor’s degree than a person with a high school diploma in Florida
Annual earnings increase as 166su students pursue advanced degrees.
Students Receive* Higher Future Earnings Averaging$7.70 for every $1they invest in their 166su education*over the course of students’ working lives
23.4%Rate of Return
(on average) for 166su students’ investment of time and money in their education
166su produces a favorable return, especially compared to other investment opportunities like the 9.6% return on stocks and bonds (30-year average return) or the 0.4% return on a standard bank savings account.
Relocated and Retained 166su Students Generated$253 millionin added income for the Florida economy in 2021-22
“It was my 166su education — along with many other opportunities provided to me by NASA — that allowed me to pursue a career beyond my wildest dreams.”
Return Benefits for
Taxpayers and Society
166su offers taxpayers a strong return on their investment in our university — which is simultaneously an investment in our state’s economy and prosperity.
166su’s presence expands the state economy and creates a wide range of positive social benefits that accrue to taxpayers and society in general within Florida. This includes added tax revenue stemming from 166su students’ higher lifetime earnings and the increased output of businesses — on top of savings to the public sector due to reduced demand for government-funded social services in the state.
Taxpayers Receive* an Average Return of$2.70 for Every $1of public money invested in 166su
*over the course of students’ working lives
This benefit-cost ratio of 2.7 means 166su is a good public investment because the taxes from 166su students’ higher earnings and reduced government expenditures not only recover taxpayer costs, but also grow the Florida tax base.
Society Receives* an Average Return of$14.70 for Every $1invested in 166su
*over the course of students’ working lives
This benefit-cost ratio of 14.7 means 166su is a good investment because not only does the productivity of the Florida workforce increase with the addition of skilled 166su alumni, but so does the productivity of its many businesses across a variety of industries.
Research Spending Strengthens Society
Not only does research spending enable 166su innovators to conduct studies and create inventions that improve our world, but it also benefits Florida’s economy. Research activities positively impact the economy by employing people and requiring the purchase of equipment and other supplies and services.
166su Generated
$238.2 Million
in research funding added to the Florida economy — equivalent to supporting 2,861 jobs — in 2021-22
98 inventions were developed by 166su researchers, in addition to securing 67 patents and 32 licenses in 2021-22
166su start-up companies generated $34.2 million in added income for the Florida economy — equivalent to supporting 198 jobs — in 2021-22
Building Businesses With 166su Innovators
Through a $6 million U.S. National Science Foundation-sponsored project, UCF is working with the Orange County government to turn research and technologies developed at our university into viable businesses by connecting researchers with industry, investors and entrepreneurs. The 166su Venture Lab provides free business-development coaching and support services.
Together, We’re Creating a Better Tomorrow
166su’s Economic Impact Study highlights the profound and far-reaching effects our university has on Florida’s economy. As a launchpad for new generations of leaders, doers and creators, UCF not only drives economic growth, but also fosters innovation and entrepreneurship. Our collective efforts at 166su contribute significantly to the success and prosperity of our state and community — creating opportunities and advancement for Floridians across all regions.
