Florida U's: University of Florida

Oct 24, 2023

The economic strength of Florida is influenced by the State’s six pillars for growth: Education, Economic Development, Infrastructure, Competitive Business Climate, Civic & Governance, and Quality of Life.1 Prioritizing the need for a robust talent pipeline first has led Florida to consistently rank #1 in the U.S. for higher education over the past 7 years. Among the considered metrics for this ranking, the state of Florida offers the lowest tuition and fees in the nation and has driven a 12% increase in graduation rates over the past 5 years.2 Entering the workforce, 75% of graduates end up staying in Florida – starting a career in one of the nation’s hottest job markets.

The State University System of Florida is home to 12 public universities and over 430,000 students. Here in Central Florida, the major presence of the University of Florida (UF), University of Central Florida (UCF), and University of South Florida (USF), play a strong factor in the surging job growth in industries like tech, medical, and engineering. These universities produce thousands of both medical degrees and computer science and engineering degrees each year, respectively - UF: 2,090 and 2,285; UCF: 3,500 and 2,775; USF: 1,850 and 1,290. This talent supply is a crucial driver in spurring research, innovation, and community partnerships that generate economic impact throughout local markets.

Pushing good luck to Florida Gators Football in their upcoming rival game versus Georgia, we are going to kick off our education series with the University of Florida and highlight the school’s vitality to Central and North Florida.

University of Florida – Topping the Charts as the #1 Public School in the Nation

The University of Florida (UF), founded in 1853, has established a global reach to top-tier collegiate candidates, represented by admitted students coming from 131 countries on top of all 50 U.S. states and every county in Florida. A university recognized by its elite faculty, diversity, and learning environment that prompts among the strongest post-graduate career opportunities, UF was just ranked the #1 public school in the nation by the Wall Street Journal.

UF: An Economic Engine

Among the 50,000 total annual graduates from UF, 70% secure employment or plan to work in Florida.3 UF's ability to retain a high percentage of graduates within Florida largely benefits the state's economy by occupying high-earning jobs and fueling growth through innovation provided by a skilled and educated workforce.

Not only are graduates remaining in Florida for work, but a majority are remaining specifically within Central and North Florida, attracted to the region’s top corporate employers.

Top Destination Cities for UF Graduates:

· Tampa

· Orlando

· Jacksonville

· Gainesville

· Miami

Top Employers for UF Graduates4

· University of Florida Health/Shands

· Amazon

· Lockheed Martin

· KPMG

· Deloitte

Beyond UF, it is most common to see undergraduate students pursue graduate degrees at other top programs in Florida, instead of beyond the state’s borders.

Top Graduate Schools Attended Beyond UF Remain in Florida:

· University of South Florida (Tampa)

· Florida State University (Tallahassee)

· Nova Southeastern University (Fort Lauderdale)

· Florida International University (Miami)

· University of Miami (Coral Gables)

Building Communities in Florida’s Top Markets

Faculty at UF also serves as pivotal to community development. Recognized as a top-5 public research university in the nation, the top employer for UF graduates remains in-house at UF Health/Shands Hospital. With 10 research centers and 10 hospitals located throughout Florida, UF Health has a workforce of more than 29,000 employees and generates an economic impact of $4.6B to Florida’s economy through community-based programs.5

As it relates to Central and North Florida’s rapid population and job growth, and how crucial healthcare systems are in the overall development of local markets, UF Health has had a long-term and growing partnership with the City of Jacksonville. The partnership aims at supporting Jacksonville’s growing workforce in its fintech and healthcare hub by establishing innovation centers for programs in business, healthcare, and engineering. Currently, the State, City of Jacksonville and UF are in the proposal stages of a $75+ million plan to develop a new graduate campus, UF Health and Financial Technology Graduate Education Center, to further drive the region’s demand. The average post-baccalaureate degree salary for graduates from the College of Nursing and College of Public Health surpasses $56,100.

Pushing Research to the Marketplace

Coinciding with UF Health, UF Innovate plays a key role in promoting economic growth, creating new jobs by partnering with entrepreneurs and commercializing research. Some can say UF’s pioneer mindset is rooted from the university’s invention of Gatorade in 1965, but to date, UF Innovate has aided the creation of hundreds of startups through raising billions in private investment6:

· $10.4B+ in private investments

· 300+ startups created by tech licensing

· 7,900+ jobs created

The strong university incubator system and the relationships its established has influenced successful student outcomes post-graduation, bringing the average post-graduate salary among business, engineering, and tech majors to over $73,500.

As the staple university for the State of Florida, the impact of The Swamp ripples far outside Gainesville boundaries. Generating diverse talent across the university’s 92 offered undergraduate programs and 228 graduate programs, UF’s presence is an attractive incentive for businesses deciding to relocate or startup in Central Florida, along with bringing families and young professionals to receive exceptional education.

The large footprint of universities throughout Central Florida widely benefits multi-housing capital markets fundamentals. Demand draws white-collar employers that help retain the area’s educated and affluent population, providing a community demographic that can support the growth of market rate apartments.