Palm Beach Atlantic University projects an impact of $371,456,898 on Palm Beach County’s economy this academic year, according to the University’s Office of Assessment, Accreditation and Research.
That is compared to $345,573,325 in 2014, an increase of 7 percent.
“Palm Beach Atlantic University desires above all to impact the lives of its students, and by doing so to positively impact the greater community,” University President William M. B. Fleming Jr. said. “The University owes much of its success to its scenic location as well as a business community that welcomes our students and guests and employs our graduates. We hope that PBA will continue to have a positive effect on this area’s economic environment in the years to come.”
The University spends 98 percent of its annual budget in the Palm Beach County area to the tune of $61,676,773, 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 $30,544,700.
Students account for $48,511,118 through housing, meals, transportation and miscellaneous expenses and purchases.
The University attracts 38,598 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 $6,318,957.
An indirect multiplier of 2.5 was used to arrive at the total.
In addition, PBA students contributed 139,201 service hours to churches and nonprofit agencies across Palm Beach County during the 2014-2015 academic year through Workship, the University’s signature community service program. Since 1968, the year the University was founded, PBA students have logged 2,950,045 service hours. The program's annual economic impact is estimated at $1,531,211.