PALM BEACH ATLANTIC UNIVERSITY PUMPS $426M INTO LOCAL ECONOMY

Published Tuesday, September 17, 2019


WEST PALM BEACH — Palm Beach Atlantic University contributed $426 million to Palm Beach County’s economy in the most recent academic year — a 5.7 percent increase over the previous year, according to PBA’s Office of Institutional Research and Effectiveness.

The University’s economic impact in 2018 was $403 million, according to the report.

“PBA students and alumni have a significant impact in the community through their learning, leadership and service,” said President William M. B. Fleming, Jr. “Employers and community leaders recognize them for their integrity and committed service through programs such as Workship.”

Students account for $55.8 million through housing, meals, transportation and miscellaneous expenses. Additionally, they contributed 138,172 hours to churches and nonprofit agencies through Workship, the University’s signature community service program. The program’s annual economic impact is estimated at about $2.1 million.

PBA spends 98 percent of its annual budget, to the tune of $71.7 million, in the Palm Beach County area. That does not include employee salaries. Because most faculty and staff spend much of their salaries locally, the economic impact of salaries is another $34.7 million.

PBA is along the Intracoastal Waterway, within steps of Downtown West Palm Beach and across from Palm Beach island. Palm Beach County boasts 29 beach parks and 47 miles of Atlantic coastline.

The University attracted 40,291 visitors, including prospective students and their families, athletes and spectators, business executives and educators attending association events and performing arts patrons. Food and accommodations represent a $6.3 million impact.

An indirect multiplier of 2.5 was used to arrive at the total economic impact.

Palm Beach Atlantic University is a private, independent university offering undergraduate, graduate and professional degrees in West Palm Beach, Orlando and online. The University is dedicated to the integration of Christian principles to prepare students for lifelong learning, leadership and service.

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Investors

Aerojet Rocketdyne Bank of America Baptist Health South Florida BB&T Caler, Donten, Levine, Cohen, Porter & Veil, P.A.
CareerSource Centennial Bank DePuy Synthes Power Tools, a Johnson & Johnson Company Engel & Volkers Palm Beach Equestrian Center
Florida Crystals Corporation FPL Greenberg Traurig Gunster Hardrives, Inc.
HCA Palm Beach Hospitals Hedrick Brothers Construction J.C. White JP Morgan Chase LRP Publications
MBAF Minto Communities, LLC NCCI NextGen Mgmt dba DxWeb Management, LLC Nova Southeastern University
Palm Beach Aggregates, LLC Palm Beach County Board of County Commissioners Palm Beach Park of Commerce PNC Bank Pratt & Whitney (A United Technologies Company)
Raymond James Financial Services/Boynton Financial Group, Inc. RSM South Florida Business & Wealth Magazine South Florida Business Journal TD Bank
Tortoise Properties Wells Fargo & Company Wexford Capital