Palm Beach Atlantic University projects an impact of $326,248,695 on Palm Beach County’s economy this academic year, according to the University’s Office of Institutional Research and Effectiveness.
That is compared to $313,395,314 in 2012.
“There is a renewed sense of excitement at PBA as we embark upon a new era of expanded academic offerings, including our new Master of Divinity degree program, as well as record undergraduate enrollment and record numbers of visitors on campus,” University President William M.B. Fleming, Jr. said. “We know that this type of forward momentum can only positively impact the county at large.”
|Palm Beach Atlantic University students recently picked up trash and pulled weeds along the West Palm Beach waterfront as part of a Workship project.|
The University spends 98 percent of its annual budget in the Palm Beach County area to the tune of $50,308,420, 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 $29,574,440.
Students account for $44,095,169 through housing, meals, transportation and miscellaneous expenses and purchases.
The University attracts 35,702 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 $5,410,713.
An indirect multiplier of 2.5 was used to arrive at the total.
In addition, PBA students contributed 100,976 service hours to churches and nonprofit agencies across Palm Beach County during the 2012-2013 academic year through Workship, the University’s signature community service program.
Since 1968, the year the University was founded, PBA students have logged 2,681,272 service hours. The program is projected to have an economic impact of $1,110,736 in the coming school year.