About Gainesville

Economy

Situated in the heart of North Central Florida,  Gainesville is home to the nation’s fourth largest university – the University of Florida.  Home to 16 colleges and more than 150 research centers and institutes, the University of Florida is one of the state’s main economic engines.

Here are just a few interesting UF tidbits, as noted on the University of  Florida‘s website:

• “Milken Institute named the University of Florida one of the top-five U.S. institutions in the transfer of biotechnology research to the marketplace (2006).

• Some 50 biotechnology companies have resulted from faculty research programs.

• University of Florida was awarded $574 million in sponsored research in 2008. Research includes diverse areas such as health care and citrus production (the world’s largest citrus research center).

• For every dollar appropriated to the University of Florida, a total economic impact of eight dollars is spent within the state.

• UF is a major employer, with more than 35,000 employees.

• The University of Florida contributes nearly $6 billion annually to Florida‘s economy and is responsible for nearly 75,000 jobs. UF is one of the largest research universities in the nation.”

Gainesville‘s other major economic powerhouse (and one of Florida‘s main economic

engines as well) is the Shands HealthCare system.  Operating nine non-for-profit hospitals and more than 80 affiliated outpatient physician practices,  Shands is the only health care system operating in every county in the state of Florida.  According to the 2008 Community Benefit Report,  the University of Florida and Shands together have a $2.5 billion impact on the Florida economy, with $1 billion in wages & benefits being spent on employees and medical staff.

Photo courtesy of randomduck