Palm Beach Atlantic University projects an impact of $313,395,314 on Palm Beach County’s economy this academic year, according to the University’s Office of Institutional Research and Effectiveness.
That is compared to $309,713,880 in 2011. “With Palm Beach Atlantic University entering its 45th year, it is truly humbling to consider the ways in which PBA now positively impacts the community that has embraced and nurtured it from its beginnings,” University President William M.B. Fleming Jr. said. “We expect this trend to continue as we move forward with construction of our Rinker Athletic Campus.”
|Work is under way on PBA's Rinker Athletic Campus.|
Aside from its projected $313 million economic impact, PBA spent $3,993,976 during the 2011-2012 school year on the construction of its Marshall and Vera Lea Rinker Athletic Campus, according to the Office of Institutional Research and Effectiveness. The athletic campus is slated to open in 2014.
The University spends 98 percent of its annual budget in the Palm Beach County area to the tune of $50,981,540, not including employee salaries. As most of the faculty and staff spend the larger part of their salaries locally and their households contain other wage-earners, the economic impact of faculty and staff salaries is an additional $28,213,240.
Students account for $41,028,100 through housing, meals, transportation and miscellaneous expenses and purchases.
The University attracts 31,987 visitors annually through visits of prospective students and their families, athletes and overnight spectators, business and educational association meetings held on campus and audience members for music, dance and theatre productions. Food and accommodations represent an impact of $5,135,245.
An indirect multiplier of 2.5 was used to arrive at the total.
In addition, PBA students contributed 113,867 service hours to churches and nonprofit agencies across Palm Beach County during the 2011-2012 academic year through Workship, the University’s signature community service program. Since 1968, the year the University was founded, PBA students have logged 2,560,014 service hours.