The Washington Economics Group

BayCare Generates $10 Billion in Economic Impact Annually

BayCare Health System

BayCare, the leading not-for-profit health system on Florida’s West Coast, has grown by 17% as a regional economic engine since 2020, generating $10 billion in economic impact in Florida, according to a study released by BayCare and Washington Economics Group today. Following a pandemic that resulted in shutdowns, high patient loads and a stressed workforce, BayCare recovered to create new jobs and facilities while expanding its reach in underserved areas.  

Economic Impact Numbers of Road America Announced

Road America

The Washington Economics Group (WEG) was retained by Road America as independent consultants to estimate the comprehensive economic impacts associated with the ongoing operations of Road America on both Sheboygan County as well as the entire state of Wisconsin.

FVF and Weatherford Capital Released WEG Economic Impact of VC in Florida

FVF and Weatherford Capital

Florida Venture Forum and Weatherford Capital announced the results of the economic impact of the VC and VC-backed private equity industries on Florida economy. The Study conducted by The Washington Economics Group (WEG), a boutique economic consulting firm led by nationally recognized business economist J. Antonio (Tony) Villamil, measured economic impacts of $85.4B over a 10-year study period (2012-2021) — nearly half a million jobs created, accounting for $27B in household income and contributing $44B to the State’s GDP — impact by metro: South Florida ($54.8B), Tampa ($12.7B) and Orlando ($9.4B) while several markets in North Florida also benefited substantially.

Tampa General Hospital and Tampa Bay Economic Development Council Partner to Grow the Tampa Medical and Research District

Tampa General Hospital (TGH) and the Tampa Bay Economic Development Council today announced a partnership to expand and enhance Tampa’s burgeoning Medical and Research District. This district, inspired by renowned medical districts in the nation’s greatest cities, houses a growing hub of world-class clinical care, academics, research, and biotechnology anchored by one of the largest academic health institutions in the nation – Tampa General Hospital and the USF Health Morsani College of Medicine.

Tampa General Hospital (TGH) and the Tampa Bay Economic Development Council today announced a partnership to expand and enhance Tampa’s burgeoning Medical and Research District. This district, inspired by renowned medical districts in the nation’s greatest cities, houses a growing hub of world-class clinical care, academics, research, and biotechnology anchored by one of the largest academic health institutions in the nation – Tampa General Hospital and the USF Health Morsani College of Medicine.

Boom: Space Florida rockets closer to $1B annual impact

Space Florida

A report released this week shows a total economic impact of $5.9 billion from Space Florida’s work since its 2007 launch. That includes delivering $2.8 billion to Florida’s gross domestic product, another $1.7 billion in household income, along with some $548 million in tax revenues.

Bahia Mar New Economic Impact Study Would Generate at Least $1.43B for Broward County

Bahia Mar New Economic Impact Study Would Generate at Least $1.43B for Broward County

The new economic study, released Dec. 1, was commissioned by Tate’s Rahn Bahia Mar LLC and prepared by J. Antonio Villamil of The Washington Economics Group, Inc. (WEG)  in Coral Gables with Kevin Crowder of North Miami-based BusinessFlare. The report asserts that the Bahia Mar project will create an estimated economic impact throughout Broward County of $1.43 billion during all the phases of construction.

Lakeland Regional Launching a Residency Program

Lakeland Regional Launching a Residency Program

Lakeland Regional Health’s quest to become a teaching hospital will soon become a reality with the first students expected to start on July 1, 2023, hospital CEO Danielle Drummond announced at today’s Lakeland City Commission meeting. The Graduate Medical Education program will build gradually and expects to reach its capacity of 190 residents five years after launching, Drummond said.

WEG Report: Tampa technology organization creates over $740 million in economic impact

A new report states the Institute for Commercialization of Florida Technology has created a more than $740 million economic impact, as technology and startup companies continue to raise funding, create new jobs and new products. Coral Gables-based The Washington Economics Group Inc. released a report stating the Tampa-based institute’s economic impact jumped $259 million in the 2019-20 fiscal year. The institute, which calls itself a “one-stop shop for investors and entrepreneurs,” helps create jobs in industries such as life sciences and information technology.

WEG New Study Measures Impact of Florida Startups

The Institute for Commercialization of Florida Technology had a $743 million impact on the state’s economy in fiscal year 2019-2020, according to a new study from The Washington Economics Group. The Coral Gables consulting firm also found companies that are part of the Institute support 3,994 jobs in FY 2019-2020, with average earnings per job exceeding the statewide average. The companies raised more than $50 million in capital. Their impact on GDP was $397 million, and they add $77 million to federal, state and local fiscal revenue, according to a news release. In the past 10 years, companies in the Institute have had $2.6 billion in economic impact. The Institute supports new companies in Florida that create clean jobs in knowledge-based industries driving the global economy.

New WEG Economic Impact Study: Embry-Riddle Research Park Making Local Impact 3 Years after Launch

Embry-Riddle Research Park Making Local Impact 3 Years after Launch

A new Economic Impact Study by The Washington Economics Group Inc. (WEG), an economic consulting firm based in Coral Gables, Florida, finds the research park well on its way towards fulfilling that promise. “Embry-Riddle’s Research Park is a significant generator of economic activity in Florida, creating over (direct and indirect) 500 jobs, most of which are high-wage.” The park has also boosted the local economy by more than $90 million, according to the report .

WEG New Study: Embry-Riddle Aeronautical University’s Economic Impact in Florida and Arizona Surpasses $2.3 Billion

The overall economic impacts of premier aviation and aerospace institution Embry-Riddle Aeronautical University in Florida and Arizona now surpasses $2.3 billion – up 44% since 2016, the independent Washington Economics Group (WEG) has reported. Embry-Riddle further supports nearly 18,000 jobs in Florida and Arizona – up from just under 14,000 jobs in 2016, making the university “a leading creator of high-wage employment in both state economies,” according to the new WEG report. 

Atlantic Sapphire: Massive land-based salmon farm rising in Homestead | Miami

Atlantic Sapphire: Massive land-based salmon farm rising in Homestead | Miami

“The U.S. imports 95% of its salmon. We’re changing that,” said Johan Andreassen, co-founder and CEO of Atlantic Sapphire, in an interview with The Miami Herald. “This is the next level of salmon farming.” Atlantic Sapphire, one of the world’s largest land-based salmon farms, is harvesting salmon in 36 large tanks in the Homestead area where 2.5 million salmon have been born at the facility and will complete Phase 1 in July, 2020.

The Institute for Commercialization of Florida Technology has had a nearly $1.9 billion total economic impact in the state over the past nine years.

The Institute for Commercialization of Florida Technology has had a nearly $1.9 billion total economic impact in the state over the past nine years.

Since 2011, the innovation-based Florida startups funded by the nonprofit Institute have created 12,077 jobs, increased household income by $722 million, raised gross domestic product by $981 million and contributed $220 million in federal, state and local fiscal revenue, according to a new study by The Washington Economics Group Inc. In the past year alone, the economic impact of the Institute’s operations and growth of funded companies was $485 million, a 19 percent increase over the prior year, the study said.

Virginia Tourism Corporation to Sponsor VIR Race

Virginia Tourism Corporation will sponsor the IMSA Michelin Pilot Challenge Series race at VIRginia International Raceway on Saturday, Aug. 24. The race will be known as the Virginia is for Racing Lovers Grand Prix and will be one of the events that will be part of the IMSA WeatherTech SportsCar Championship race weekend Aug. 23-25 at VIRginia International Raceway.

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