Add as a preferred source on Google

University System of Georgia Increases Statewide Economic Impact to $17.7 Billion

  • 08/27/19

ATLANTA – The University System of Georgia (USG) in fiscal year 2018 had a $17.7 billion impact on communities across Georgia, an increase of almost 5 percent over the previous fiscal year. It also created 168,284 direct and indirect jobs, a nearly 3 percent increase over last fiscal year.

“While we remain focused on graduating more students, keeping college affordable, and increasing our efficiency in delivering a quality education, we are proud our colleges and universities help power Georgia’s economy,” says USG Chancellor Steve Wrigley. “USG and its 26 institutions play an important role in generating jobs and boosting businesses across the state, befitting the investment Georgia’s leaders have made in us.”

The latest version of an annual study on the statewide economic impact of USG’s 26 institutions concluded that, on average, every dollar of initial spending generates an additional 47 cents for the economy of the region that hosts the institution.

Of the USG jobs number, the report found that 30 percent are on campus and 70 percent are off-campus in either the private or public sectors. On average, for each job created on campus 2.3 off-campus jobs are created as a result. The jobs generated USG account for 3.8 percent of all the nonfarm jobs in Georgia, or about 1 job in 26.

Among other findings, USG generates $12.2 billion in gross regional impact and $8.5 billion in labor income to host communities.

In fiscal year 2018, USG’s value-added impact comprises $12.2 billion (69 percent) of the $17.7 billion overall impact, with domestic and foreign trade comprising the remaining $5.5 billion (31 percent). The $12.2 billion value-added impact equals 2.1 percent of Georgia’s GDP. Labor income received by residents of the communities that host one or more institutions equals $8.5 billion, and represents 70 percent of the value-added impact.

The annual study is conducted on behalf of the Board of Regents by Jeffrey M. Humphreys, Ph.D., director of the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business.

The full report, including impact by institution, is available here.

 

Featured

  • University of Southern Mississippi Starts Construction on Oyster Hatchery

    The University of Southern Mississippi (USM) recently announced that construction has begun on a new oyster hatchery at its Gulf Coast Research Laboratory (GCRL) Thad Cochran Marine Aquaculture Center (TCMAC) Cedar Point campus in Ocean Springs, Miss., according to a news release.

  • New City School

    Turning Crisis into Opportunity: Transforming New City School

    When New City School in St. Louis suffered catastrophic flood damage in July 2022, the event could have marked a serious setback for the 100-year-old institution. Instead, it became a forward-looking opportunity.

  • iPark 87

    Building a Future-Focused Career and Technical Education Center

    A district superintendent shares his team's journey to aligning student passions with workforce demands, and why their new CTE center could be a model for districts nationwide.

  • LSU Breaks Ground on $200M Residential Project

    Louisiana State University in Baton Rouge, La., recently broke ground on a new residential complex, according to university news. The South Quad residential project will consist of two buildings and add a total of 1,266 beds for freshmen students. The development comes with a price tag of $200 million, and it’s scheduled to open to students in fall 2027.

Digital Edition