A new report shows Georgia Southern University has increased its annual economic impact of more than $1 billion on the region it serves. The report, released by the University System of Georgia (USG), says Georgia Southern is a significant part of the system’s $17.7 billion economic impact on the state of Georgia in FY 2018.
The report found these economic impacts demonstrate that continued emphasis on colleges and universities as a pillar of the state’s economy translates into jobs, higher incomes and greater production of goods and services.
For Georgia Southern, the report said 11,639 jobs can be tied to the University, contributing to an annual economic impact measured at $1.04 billion, an increase from $1.02 billion in FY 2017.
“With an impact of more than $1 billion, we are proud to contribute to our region’s economic growth,” said Georgia Southern President Kyle Marrero. “I expect that number to only increase as we develop more academic and university programs, informed by our regional academic plan and university strategic plan, that are directly aligned with regional needs.”
The report indicates an overall increase in full- and part-time jobs throughout the state, either at USG institutions or because of them. Of the 168,284 full- and part-time jobs noted in the report across Georgia, 50,597, or 30%, are on the campuses while 117,687, or 70%, are off-campus. For every person employed at the USG or a member institution, 2.3 people have jobs that support the presence of the institution in the local community.
This is the first report on Georgia Southern’s economic impact after its consolidation. The report found that in southeast Georgia:
There are 3,523 jobs on Georgia Southern’s campuses in Statesboro, Savannah and Hinesville. Because of institution-related spending 8,116 jobs exist off-campus.
Georgia Southern’s “initial spending” is $789,775,232. That breaks down in three areas:
$240,536,163 is spent on personal services
$145,588,460 is spent on operations
$403,650,609 is spent by Georgia Southern’s students
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.
