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

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

  • All Surfaces Announces New Director of Commercial Business Development

    Surface solutions provider All Surfaces recently announced that it has hired a new Director of Commercial Business Development in Torie Bonafede. Bonafede will work to build the company’s market presence in various categories and drive strategic initiatives to expand its commercial sales portfolio.

  • KI Joins Education Design Research Consortium as Founding Sponsor

    Furniture solutions manufacturer KI recently announced alongside the Center for Advanced Design Research and Evaluation (CADRE) that it will become a founding sponsor for the Coalition for the Advanced Understanding of School Environments (CAUSE). A news release reports that the coalition’s research will focus on the relationship between K–12 physical environments and educational outcomes.

  • DLR Group Appoints New Senior Design Researcher

    Integrated design firm DLR Group recently announced that it has appointed Dr. Kati Peditto, Ph.D., EDAC, as the new senior design researcher for its research team, according to a news release. Peditto is a design psychologist who specializes in inclusive design and neurodiversity, joining the firm’s office in Denver, Colo.

  • Adelphi University Launches $100M Fundraising Campaign

    Adelphi University in Garden City, N.Y., recently launched The Momentum Campaign: Extraordinary Impact, a $100-million fundraising initiative, at a gala on campus, according to a news release. The campaign is set to last through 2027 and fund six strategic priorities to improve success on campus.

Digital Edition