Georgia College provides $200 million impact to local counties
A recent study estimates that Georgia College & State University had more than a $200 million impact on the local economy during the 2009 fiscal year (July 1, 2008-July 1, 2009), an increase of more than $10 million from the previous fiscal year.
Despite the downturn in the economy, the report by the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business also showed that Georgia College’s presence in the community provided an increase of 100 jobs compared to the previous year.
“Georgia College is a significant asset to the local economy,” said GCSU President Dorothy Leland. “During this time of economic stress, the revenue that Georgia College brings into this region plays an important role in the financial health of many businesses and in the lives of many of our citizens.”
With the construction of a new $27 million Wellness Center on the university’s West Campus scheduled to begin later this summer, Georgia College will have an even bigger financial impact on the local community and businesses during this fiscal year, Leland believes.
The annual Selig survey revealed the economies in Baldwin, Hancock, Putnam, Wilkinson, Jones and Washington counties realized $200,068,929 from Georgia College. Additionally, in 2009, 2,065 jobs in the region were related to Georgia College’s presence, compared to 1,960 the previous fiscal year. Of the 2009 jobs total, 793 were on campus and 1,272 were elsewhere in the region.
Georgia College’s effect on the region’s economy is part of a $12.7 billion impact on the state from the 35 institutions in the University System of Georgia (USG). The 2008 survey pegged the number at $12.1 billion.
The first study in the Selig series, which is conducted on behalf of The Intellectual Capital Partnership Program (ICAPP), an initiative of the Board of Regents’ Office of Economic Development, calculated the USG’s impact at $7.7 billion in fiscal year 1999.
Georgia’s public higher education system also generated 112,336 full- and part-time jobs – 2.8 percent of all the jobs in the state for the 2009 fiscal period. Most of those jobs – 62 percent – were off-campus positions that exist because of the presence in the community of USG institutions.
The economic estimates in the Selig report are based on several categories, including:
- University spending on salaries and benefits,
- University spending on operations and supplies,
- University spending on capital improvements/construction projects and
- Spending by students who attend the college
For more information, contact Judy Bailey, University Communications, at (478) 445-4477.