SPC Contributes More Than $3 Billion in Economic Impact to Tampa Bay Area

St. Petersburg College (SPC) plays a vital role in the Tampa Bay region, not only through its educational offerings but also through its significant economic contributions. The College added $3.2 billion in income into the Tampa Bay region during the 2022-23 fiscal year, according to an independent economic impact study.

Conducted by Lightcast, a global pioneer in the collection and big-data analysis of information in the labor market, the study divides the College’s economic impact, equal to about 1.4% of the area’s total gross regional product, into three main components — operations spending, student spending, and alumni contributions.

Highlights include:

• SPC’s operational activities alone added $190.9 million to the economy and supported over 3,200 jobs, all in the Tampa Bay region.
• Spending by relocated and retained students—those who moved to the region or stayed because of SPC—added another $46.9 million.
• The greatest impact came from SPC alumni, whose enhanced skills and productivity translated into $2.9 billion in added income and supported more than 31,000 jobs. This economic boost is like hosting the Super Bowl eight times.
• The average associate degree graduate from SPC will see an increase in earnings of $7,600 each year compared to a person with a high school diploma or equivalent working in Florida.

SPC President Dr. Tonjua Williams said that the study's results reinforce SPC’s role in the region as a major driver of economic mobility and workforce development.

“This report affirms the powerful impact SPC has on our students’ futures and the vitality of our local economy,” said Dr. Williams. “Whether it’s through innovative academic programs, responsive, industry-aligned workforce training or community partnerships, SPC remains committed to opening doors of opportunity and ensuring success in the classroom, the workplace and beyond.”

SPC generates significant economic value through spending by its students who have either relocated to or attended the College or remained in the Tampa Bay region because of it. This reflects SPC’s economic influence outside Pinellas County and across the broader Tampa Bay area, including Hillsborough, Pasco, and Hernando counties. The College’s impact includes:

• During the fiscal year, SPC supported more than 35,383 jobs in the region, according to the study. That means SPC and its students support one out of every 62 jobs in Tampa Bay.
• For every $1 that supports SPC, the community gains $13.70 in added income and social savings. Taxpayers gain $2 in added tax revenue and public sector savings.
• In Pinellas County alone, SPC’s annual impact was $1.8 billion, with operational activities adding $154.9 million. The College’s activities and students supported more than 18,500 jobs.

SPC leaders emphasize that the College’s impact extends beyond economic figures — it’s about transforming lives through education. As part of that mission, SPC continues to encourage students to pursue higher levels of learning to unlock greater opportunities.

Dr. Matthew Liao-Troth, SPC’s Vice President of Academic Affairs, said the study highlights how lives and communities are transformed through education.

“We always talk to our students about making sure they get to where they want to be to be successful for themselves and their community,” Liao-Troth said. “This report showed that the more education you have, the higher your average salary is. There is a value to education beyond high school, beyond a certificate, even beyond an associate degree.”

SPC’s Board of Trustees Chair Jason Butts said the study confirms the College’s significance in providing opportunities for growth and transformation both inside and outside of the classroom. “Internally, we’ve known this College is a powerhouse in the Tampa Bay area,” Butts said. “This report shows that message."