Skip to main content
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

  • California High School Opens New Classroom Building for 7th-, 8th-Graders

    Santa Rosa City Schools in Santa Rosa, Calif., recently announced the completion of a new classroom building for Piner High School. As the campus transitions to a Junior/Senior High School, the facility will play home to the school’s new population of seventh- and eighth-grade students.

  • Wyoming District Breaks Ground on New Elementary School

    Laramie County School District #1 in Cheyenne, Wy., recently held a groundbreaking ceremony for the upcoming Mountain View Elementary School, according to a news release. The facility has an estimated completion date of summer 2028, and it will have the capacity for 650 students in fifth and sixth grade.

  • Haws Corporation Marks 120th Anniversary

    Haws Corporation, which provides hydration and emergency safety solutions worldwide, recently announced that the company is celebrating its 120th anniversary this year, according to a news release.

  • URI Cuts Underwater Ribbon on New Ocean Robotics Laboratory

    The University of Rhode Island recently held a ribbon-cutting ceremony for a new Ocean Robotics Laboratory at its Narragansett Bay Campus, according to a news release. Two students used a remotely operated vehicle to cut an underwater ribbon in a 30-by-20-foot test tank.