Economic Impact of UF Innovation Square

street rendering of UF Innovation Square
Artist rendering depicting what the Innovation Square community will look like after completion. This busy thoroughfare will contain coffee shops, shopping centers, restaurants, grocery stores and more allowing it to become a busy hub of interaction between UF campus and downtown Gainesville.
ingredients of UF Innovation Square
The economic impact of Innovation Square in Gainesville is quite substantial. UF officials are predicting Innovation Square — and the companies that move into it — will create some 3,000 jobs, something former Mayor Craig Lowe recently called an "employment renaissance."  

Referring to the redevelopment as a "great contribution to the city economically and culturally," Lowe said it will provide a synergy with downtown projects like the Hampton Inn and Suites, which opened in August 2009, to "spur more economic development and a higher quality of urban life."

Brian Beach, UF's former senior vice president for administration and business ventures, said while the project, which he described as a "24/7 live-work-play research park," is expected to drive research output at the university, it will also benefit the surrounding area's economy by putting a significant amount of space on the tax rolls and encouraging other developments, be they commercial, residential or a mix of the two. While UF officials aren't sure exactly how big that boost will be, Beach said Innovation Square will have a "significant impact on that periphery."

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