St. Thomas University Impacting State of Florida's Economy

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Jan 12, 2012, 05:22 ET

MIAMI, Jan. 12, 2012 /PRNewswire-USNewswire/ -- The year-long celebration continues as Miami's St. Thomas University – www.stu.edu - celebrates its 50th Anniversary. One of the leading Catholic universities in the southeast United States, the institution is recognized by a track record in developing leaders in justice, business, sciences and ministry. The University's expansion now includes unique programs such as global entrepreneurship, an online management Master's, Sports Administration degrees with an international perspective (due to the sports arena interest in Latin America), The Ecumenical Institute, and a Human Trafficking Academy housed in the School of Law's intercultural human rights program. Anniversary celebrations include a February 2nd dinner-dance at philanthropist Bunny Bastian's home in Gables Estates and an April 21st Jubilee festivity, with Maria Elena Villamil and Frances Sevilla-Sacasa as co-chairs.

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St. Thomas' School of Business' Dean Jose Antonio (Tony) Villamil ([email protected]) insists that STU students have a comparative edge when they graduate and face a tough job market. "The learning experience of a small, intimate setting - with an average class size of 15 students - reflects one of the smallest student-faculty ratios in the country and gives them a different analytical perspective that can be demonstrated as they conduct their searches," says Villamil. In addition to creating leaders, St. Thomas University has given back to the community in many other ways, according to a study he conducted in his firm, the Washington Economics Group (WEG). "The study was our contribution to the 50th anniversary," said CEO Maria Elena Villamil. "It's amazing…people don't realize the economic impact a small university can have on a community and the state."

The study highlights the importance and significance of STU in the regional economy as a supplier of higher education-trained human resources and as contributor to the expansion of knowledge. Quantifiable aspects include the creation of high-wage jobs, labor income generation, contributions to Gross Domestic Product (GDP) and fiscal revenue impacts. The first economic impact stems from the University's ongoing daily operations, such as the number of individuals employed, services provided and purchases made. The second one results from the daily living expenditures, such as room and board, made by the current student body. Finally, the most significant impact results from the increased earning power and spending of STU alumni residing in South Florida and the state. St. Thomas supplies the South Florida region and the State with highly educated workers that increase the human capital stock of the region and fill leadership positions across all industries. Most of STU alumni remain in Florida as productive residents, magnifying significantly the economic impacts of the University.

The University's annual economic impact is estimated to be a significant $1.5 billion in the State of Florida. About $1.4 billion, or 93 percent, of the economic impact occurs in the South Florida Region. The University directly or indirectly supports 14,650 jobs, generating over $490 million in Labor Income and contributing $917 million to GDP.

For information on St. Thomas University's schools and programs please visit www.stu.edu or contact Chief Marketing Officer Marivi Prado at [email protected]

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SOURCE St. Thomas University