The TaxWatch Research Blog

The TaxWatch Research Blog is a forum where our research staff can address topics and issues in a short format. Keep an eye on this space during Legislative Session for frequent posts making sense of the activity at the Capitol. 

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Florida TaxWatch Analyzes Economic Impact of Restricted College Football Season in Florida

Florida TaxWatch President and CEO Dominic M. Calabro said, “For communities across Florida the COVID-19 induced restrictions on college football game fan participation and spending is likely to have negative impacts on tax revenues, local small businesses, and jobs. In our latest economic commentary, Florida TaxWatch finds that even a five percent reduction in leisure and hospitality jobs from lower spending in Boca Raton, Gainesville, Miami, Orlando, Tallahassee, and Tampa would cost nearly 26,000 jobs equaling more than $665 million in lost wages. If realized, these losses will not only hurt workers, families, and businesses but also the local government programs that rely on their tax revenues.”

Assuming a conservative 25 percent reduction in team revenues from the previous 2018-2019 season, Florida’s college football teams could lose up to $70.8 million in total revenue due to COVID-19 restrictions on fan activity and spending. A decrease of 50 percent in team revenues would have far more devastating effects with revenue losses potentially reaching $141.5 million. For schools such as Florida State University, the University of Miami, the University of South Florida, and Florida Atlantic University, which reported net profits of $0 in the 2018-2019 season, these revenue reductions could create huge budget deficits over the coming years.

Read the full commentary here.

About Florida TaxWatch
As an independent, nonpartisan, nonprofit government watchdog and taxpayer research institute for more than forty years and the trusted eyes and ears of Florida taxpayers, Florida TaxWatch works to improve the productivity and accountability of Florida government. Its research recommends productivity enhancements and explains the statewide impact of fiscal and economic policies and practices on citizens and businesses. Florida TaxWatch is supported by its membership via voluntary, tax-deductible donations and private grants, and does not accept government funding. Donations provide a solid, lasting foundation that has enabled Florida TaxWatch to bring about a more effective, responsive government that is more accountable to, and productive for, the citizens it serves since 1979. For more information, please visit www.floridataxwatch.org.

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