Embry-Riddle Aeronautical University's Economic Impact in Florida, Arizona Surpasses $2.3 Billion, New Report Concludes

DAYTONA BEACH, Fla., Aug. 8, 2020 /PRNewswire-PRWeb/ --A The overall economic impacts of premier aviation and aerospace institution Embry-Riddle Aeronautical University in Florida and Arizona now surpasses $2.3 billion a?? up 44% since 2016, the independent Washington Economics Group (WEG) has reported.Embry-Riddle further supports nearly 18,000 jobs in Florida and Arizona a?? 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.Embry-Riddle's Research Park, opened on the Daytona Beach Campus in 2017, has generated more than $90 million in economic impact in Florida and directly or indirectly created 500 jobs, many of which are high-wage.Mori Hosseini, Chairman and CEO, ICI Homes, who serves as Embry-Riddle's Board of Trustees Chairman, said, "The success of Embry-Riddle's Research Park has been a team effort. The Volusia County Council, the City of Daytona Beach, NASCAR, Team Volusia and the Daytona Regional Chamber of Commerce have all helped. From recruiting three international companies to developing a technology-centered entrepreneurial ecosystem, we are on our way. Volusia County is the northern tip of the Space Triangle. We must all continue to work tirelessly on the future. It is not about us. It is about our future."With residential campuses in Prescott, Arizona, and Daytona Beach, Florida, Embry-Riddle's overall activities a?? including the thriving Research Park, the added earning power of Embry-Riddle alumni in both states, and revenue generated by approximately 125 Embry-Riddle Worldwide campuses a?? currently amount to $2.37 billion, versus $1.65 billion in 2016, WEG estimated. Jobs generated by Embry-Riddle in both states increased from 13,778 to 17,929 over the same time period.
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