The Institute for Commercialization of Florida Technology (the Institute) announced today the results of a new study conducted by The Washington Economics Group, Inc.® (WEG), a Coral Gables-based boutique economic consulting firm led by nationally recognized business economist J. Antonio (Tony) Villamil. The study measured economic impacts of the Institute during FY 2019-20 to update prior years’ studies and concluded that the organization’s impact increased by $743 million to $2.6 billion as funded companies continue to raise investment capital, increase sales, create jobs, and bring innovative products to market. The economic impacts of the Institute increased again in 2020, marking the tenth year of growth and positive results for Florida’s economy,” said Dr. Tony Villamil, founder and senior advisor of The Washington Economics Group, Inc. “Positive outcomes include increases in high-wage employment in 21st century knowledge industries, household income for Florida’s residents, and fiscal revenues to the State, all resulting from economic activity created by the Institute.” Read more
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