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 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 Source: American Factfinder/U.S Census data

5. Impact of FGCU on SW Florida 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. Source: Jackson, G., FGCU: The economic community impact 2005-2006 (2007)

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.