Flagler College contributes millions to First Coast community during 2006-07
Special to The Record
Publication Date: 06/17/08
Flagler College may be best known for its visual impact on the Northeast Florida landscape -- about 35,000 visitors take paid tours of Flagler's beautifully restored main building and National Historic Landmark, the Hotel Ponce de Leon, each year -- but few people realize the college's significant economic impact. A new study finds that, during the 2006-07 fiscal year alone, Flagler College contributed $166 million to the community.
The economic impact study was produced by EconImpact LLC of Louisville, Ky., one of the leading providers of economic impact studies for private colleges. The purpose of the report was to detail the ways in which Flagler College contributes both directly and indirectly to the local economy.
"The college offers education for area residents whose lifestyles and earning capacities are measurably enhanced by its programs," said Kevin Stokes, who wrote the final study. "The college's presence also generates many economic opportunities for local government and businesses. These economic advantages, coupled with the additional cultural benefits the college offers, attest to the significant contribution of Flagler College to St. Augustine and greater Jacksonville."
The visual impact of Flagler College's historic Hotel Ponce de Leon also played a role in the study. Glenn Hastings, executive director of the St. Augustine, Ponte Vedra & the Beaches Visitors and Convention Bureau, said between 160,000 and 200,000 fewer tourists would visit each year if the college were not present.
The full economic impact study can be downloaded at www.flagler.edu/documents/2007_Flagler_College_econimpact.pdf.
"[The Ponce] is a visual that most people associate with St. Augustine," Hastings said. "When you come off the Bridge of Lions, it stirs up some excitement. You see the tower from the cathedral, the tower from the old bank building and the towers of the hotel."
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