Florida International University (FIU) is a public research university with its main campus in Westchester, Florida, United States. Founded in 1965 by the Florida Legislature, the school opened to students in 1972. It is a constituent part of the State University System of Florida and one of four state-designated Preeminent State Research Universities. FIU is classified as a Carnegie "R1: Doctoral Universities – Very high research activity" institution. It has 11 colleges and more than 40 centers, facilities, labs, and institutes that offer more than 200 programs of study. It has an annual budget of over $1.7 billion and an annual economic impact of over $5 billion.