St. Thomas University (STU) plays a significant role in Florida's economy, contributing to job creation, economic mobility, and workforce development. As a private, nonprofit, Catholic university, STU empowers students within a culturally and internationally diverse campus community. This independent assessment by Florida TaxWatch examines STU's economic impact, including its contributions to employment, income, and overall economic output.
STU's operations create more than 1,000 jobs and generate over $56 million in personal income annually. Additionally, STU graduates contribute to more than 7,500 jobs each year, resulting in an economic output exceeding $1.3 billion. The university plays a vital role in workforce development, especially for minority and first-generation students, who benefit from increased earnings and professional opportunities.
The report also highlights STU's role in fostering accessibility and affordability. Nearly 58% of students receive Pell Grants, doubling the national average for private, nonprofit institutions. Additionally, tuition costs at STU are significantly lower than other private universities in the region, ensuring that students from diverse backgrounds have greater access to higher education.
Florida TaxWatch's findings emphasize the university's return on investment (ROI), with every dollar spent generating an additional $21.50 in net economic output over a graduate's career. This underscores STU's importance in strengthening Florida's workforce and economic stability.