Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Embry-Riddle's Research Park Boasts Big Returns in New Economic Impact Study

The Researh Park at Embry-Riddle Aeronautical University generated $137 million of total economic impact in Florida last year, according to an independent study conducted by The Washington Economics Group, Inc.


News provided by

Embry-Riddle Aeronautical University

Mar 02, 2022, 08:00 ET

Share this article

Share toX

Share this article

Share toX

The Research Park at Embry-Riddle supported over 700 jobs in 2021, according to a recent economic impact study. (Photo: Embry-Riddle/Daryl Labello)
The Research Park at Embry-Riddle supported over 700 jobs in 2021, according to a recent economic impact study. (Photo: Embry-Riddle/Daryl Labello)

DAYTONA BEACH, Fla., March 2, 2022 /PRNewswire-PRWeb/ -- Embry-Riddle Aeronautical University's Research Park generated $137 million of total economic impact in Florida last year — a 50% increase from numbers reported in 2019 — according to an independent study conducted by The Washington Economics Group, Inc.

"By achieving a 50% increase in economic impacts in only three years, Embry-Riddle and its successful Research Park are fulfilling our vision to advance innovation and new business opportunities," said Mori Hosseini, chairman and CEO of ICI Homes, who also serves as Embry-Riddle's Board of Trustees chairman. "We are indebted to the State of Florida for their continuing support of Embry-Riddle's efforts to promote economic progress and improve quality of life for all Floridians."

“Embry-Riddle and its Research Park are creating high-paying jobs by incubating transformative ideas. We are honored to serve as a pipeline for new talent into the aerospace and aviation industries.” - Embry-Riddle President P. Barry Butler

Post this

The university's Research Park generates significant economic activity that supports $14 million in tax revenues for federal, state and local governments, the economic impacts study concludes. Targeting high-growth sectors, the Research Park also supports more than 700 jobs overall, both directly and indirectly — up nearly 40% from 2019, when 503 jobs were supported.

The cornerstone of the Research Park, the John Mica Engineering and Aerospace Innovation Complex (MicaPlex) has directly created more than 120 high-paying jobs, with an average salary over $78,000, spread throughout 22 advanced-technology companies that inhabit the space. Those firms have already attracted more than $46 million in outside investment.

Embry-Riddle's Research Park, founded in 2017, remains a significant economic engine for Volusia County and the state of Florida, as it continues to serve as a supplier of high-skilled talent to the aviation and aerospace industries and align its efforts to those of policymakers and economic development executives.

Embry-Riddle President P. Barry Butler reflected on the Research Park's early days, which aligned with the beginning of his tenure at the university.

"As a go-to hub for aerospace innovation and entrepreneurship, Embry-Riddle and its Research Park are creating high-paying jobs by incubating transformative ideas," Butler said. "We are honored to serve as a pipeline for new talent into the aerospace and aviation industries, and are excited to help Volusia County position itself as a leader in the booming commercial space arena."

Looking ahead, Embry-Riddle's capital spending plans for the Research Park from 2022 through 2026 will support 106 additional jobs and generate an additional $83 million in total economic impact. The park will also continue to offer internship opportunities for students, which then create full-time employment opportunities upon graduation and incentivize talent to stay in Volusia County.

The last comprehensive economic impact study of the university's three campuses was conducted in 2020, finding that Embry-Riddle's total economic impact reached nearly $2.4 billion. Nearly $2 billion of this impact was in the state of Florida — mostly in Volusia County — where the university supported nearly 14,850 jobs.

Since 2020, Embry-Riddle has continued to thrive, as evidenced by increased enrollment and ongoing construction projects to improve and expand the university's programs and facilities. One such project is the addition of a 10,000-square-foot production space to the Research Park. Expansions to the Prescott Campus, including a new student union, residence halls, wind tunnel facility and improved flight line, will soon begin. And on the Daytona Beach Campus, record enrollments have led to the expansion of virtual reality technology to support and streamline a booming Aeronautical Science program, as well as the construction of a new residence hall in 2021 and a new parking garage this year.

Media Contact

Mike Cavaliere, Embry-Riddle Aeronautical University, 386.226.4838, [email protected]

SOURCE Embry-Riddle Aeronautical University

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.