On October 31, 2016, Gainesville.com highlighted the economic impact study prepared, by The Washington Economics Group, Inc. (WEG) of the Florida Institute for the Commercialization of Public Research. According to the Study, the Institute receives about $5,000 million a year from the State and in the 2015-2016 FY the companies had a $129 million impact to the State’s GDP. The companies also supported the creation of 1,618 jobs last year, and 4,091 over the six years. As stated by Tony Villamil, WEG Founder and Principal, the numbers include direct jobs and income created by the companies and a multiplier effect used by the State on their spending that created additional jobs and spending. He also added the “the employment creates ripple effects and a lot of this employment is high-wage, high-skill because it’s software, bioscience — high-level professional services” Read full story.
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