The Economic Value Report

The Economic Value of Pensacola State College report, produced by Lightcast in November 2025, evaluates the impact of Pensacola State College on the Pensacola Metropolitan Statistical Area, which includes Escambia and Santa Rosa counties, using data from fiscal year 2023 to 2024. The report examines how the College contributes to the regional economy through its operations, student activity, and alumni workforce, while also measuring the return on investment for students, taxpayers, and society. Its purpose is to clearly demonstrate the College’s roles as both an educational institution and a key economic driver, providing measurable evidence of how Pensacola State College supports job creation, increases earnings, and strengthens the overall economic health of Northwest Florida.

 

View the full report

View the summary sheet

View the PowerPoint presentation

Executive Summary

Report cover for the Economic Value of Pensacola State College

Economic Impact Analysis

Pensacola State College plays a significant role in strengthening the regional economy. In fiscal year 2023-2024, the College generated $529 million in added income across the Pensacola Metropolitan area through its daily operations, construction activity, student spending, and the long-term impact of its graduates in the workforce. This economic activity supports nearly 7,000 jobs, about one out of every 43 jobs in the region, and represents roughly 1.7% of the area’s total economic output, demonstrating PSC’s value as both an educational institution and a key driver of regional growth.

1 out of every 43 jobs in the Pensacola Metropolitan Statistical Area is supported by the activities of PSC and its students.

PSC total annual impact

$529.0 million added income

PSC total annual impact

6,944 jobs supported.

$411.1 million added income

Alumni Impact

Impact of the increased earnings of PSC alumni and the businesses they work for. An economic boost similar to hosting the Super Bowl 1 time or 5,046 jobs supported.

$82.4 million added income

Operations Spending Impact

Impact of annual payroll and other spending.
Enough to buy 1,744 new cars or 1,346 jobs supported.

$27.3 million added income

Student Spending Impact

Impact of the daily spending of PSC students attracted to or retained in the region. Enough to buy 1,864 families a year’s worth of groceries or 453 jobs supported.

$8.2 million added income

Construction Spending Impact

Impact of expenditures for ongoing construction projects.
99 jobs supported.

Investment Analysis

The investment analysis demonstrates measurable returns for students, taxpayers, and society. Students invest a total of $40.1 million and gain $268.9 million in increased lifetime earnings, equating to $6.70 for every dollar invested and an annual return of 21.8%. Taxpayers contribute $83.7 million and receive $84.2 million in benefits, $1.00 for every dollar invested. From a broader perspective, combined costs of $149.0 million yield $1.3 billion in added state revenue, resulting in a return of $8.50 for every dollar invested.

For every $1 Invested

Students gain $6.70 in lifetime savings.
Taxpayers gain $1.00 in added tax revenue and public sector savings.
Society gains $8.50 in added income and social savings.

The average associate degree graduate from PSC will see an increase in earnings of $7,200 each year compared to someone with a high school diploma working in Florida.

Average earnings by education level at career midpoint

< High school 27000$
High school 34800$
Certificate 37900$
Associate 42000$
Bachelor's 60400$