St. Thomas University contributes millions of dollars to South Florida’s economy, according to a report released Thursday.
The report by Tallahassee-based Florida TaxWatch found that the private university in north Miami-Dade County created more than 1,000 jobs and generated $56 million in personal income, while its employees and students add about $93 million to the state’s gross domestic product.
"This TaxWatch report highlights how St. Thomas University students, particularly undergraduates, contribute to the economic advancement of our communities, said John J. Dooner, Jr., Chairman of the St. Thomas University Board of Trustees, in a statement.
He highlighted the report's findings that the undergraduates' average annual earnings of more than $73,000.
Enrollment at the university, which is a federal designated Hispanic Serving Institution, or HSI, has grown over the past six straight years, the report said.
Said St. Thomas University President David A. Armstrong, in a statement: "Over the past six years, we have worked hand in hand with industry leaders and business partners across our state to ensure the workforce readiness of our graduates.
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During the 2023-2024 school year, the university awarded 435 undergraduate degrees, 538 Master’s degrees, 74 doctorate degrees, 132 postgraduate certificates, and 249 J.D. degrees through its law school.
Annual tuition is $34,770 per year, “which is a smaller cost than other private universities in the area, the report said. Roughly half of the students identify as Hispanic or Latino, while about 25% are Black or African-American. The latest data shows that 43% of its full-time students were first generation students.
Founded in 1961, St. Thomas University is a private, nonprofit, Catholic school in Miami Gardens. It traces its roots the Universidad de Santo Tomas de Villanueva, founded in 1946 in Havana, Cuba, by American Augustinians with assistance from European Augustinians.
When Fidel Castro and his government expelled the Augustinians from Cuba in 1961, several ventured to Miami, where they founded the school — originally named Biscayne College — in 1961. The University came under the sponsorship of the Archdiocese of Miami in 1988.
