According to a new analysis by The Washington Economics Group, Inc. (WEG), the economic impact of the University of South Florida’s innovation efforts have grown at a rapid pace, increasing by more than 45% over the last three years to $582 million annually. The Miami-based consulting firm reports the upward trajectory of the USF innovation enterprise continues to support and strengthen the economic development strategy of the Tampa Bay region and Florida’s growing economy. While the new analysis focuses solely on innovation, the USF System’s overall annual economic impact is measured at $4.4 billion.
WEG analyzed the productivity of the USF Research Park; the university’s Technology Transfer Office, which manages new inventions from USF faculty and students’ and USF’s Tampa Bay Technology Incubator, which is oveseen by the USF Office of Corporate Partnerships. Continue reading.