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

  • IFMA Appoints New President & CEO

    The International Facility Management Association (IFMA), based in Houston, Texas, recently announced its appointment of Michael Geary, CAE, as its new President & CEO, according to a news release. Geary’s previous role was as CEO of the Society for Marketing Professional Services (SMPS) and the SMPS Foundation.

  • College of the Desert Starts Construction on New Campus Location

    College of the Desert recently announced that it has broken ground on its new Palm Springs campus in Palm Springs, Calif., according to a news release. The multiple-building campus consists of 175,000 square feet of new construction and will cost an estimated $268 million.

  • Tennant Company Launches Autonomous Floor Scrubber

    Cleaning equipment and solutions provider Tennant Company recently launched the new X6 ROVR, a mid-sized robotic scrubber designed for large commercial and light-industrial environments, according to a news release. The autonomous machine can clean up to 75,000 square feet peer cycle with minimal needs for manual assistance.

  • Addressing the Housing Affordability Crisis Through Creative Campus Development

    Many Southern California college and university campuses are living amidst surging housing costs, driving the need to house more of their populations on campus. Especially for community colleges, the need to support millions of unhoused and housing insecure students has become a prominent issue that lawmakers and institutions alike are trying to solve.