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Colleges: We Have $26 Billion Yearly Impact on State Economy

Florida's 28 public colleges say they're pumping more than $26 billion a year into the state economy. They released a report Monday showing their positive impact on tax revenues, job placement, and salaries.

State Board of Education Member John Padget said 88% of Florida college graduates either get a job or continue their education.

"We are really breaking the cycle of poverty in these families", Padget said. "They start with the Florida College System, and they end up in jobs."

Governor Rick Scott praised the colleges in a statement. He noted his budget proposal calls for an increase of $74 million in funding for them.

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