University System Reports $14.1 Billion Economic Impact

An annual study of the University System of Georgia’s economic impact on the state records a 7.4 percent increase from fiscal year 2011 to 2012. That is a jump of $900 million to a new high of $14.1 billion of direct and indirect spending in the regions served by the System’s 31 colleges and universities.

Looking at the impact of individual institutions, Georgia Tech was the largest in terms of economic impact ($2.6 billion) and second in jobs (20,869).

To calculate the economic impact for FY12, the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business analyzed data collected between July 1, 2011, and June 30, 2012. The annual study is conducted by Dr. Jeffrey M. Humphreys on behalf of the Board of Regents.

“We have been analyzing the University System’s economic impact for a number of years and what is clear is the importance of these colleges and universities on local and state economies from just about every variable: direct spending, income, production of goods and services and jobs,” said Humphreys.

The full study with data for all 31 USG institutions is available at:
http://www.usg.edu/economic_development/documents/usg_Impact_fy2012.pdf

Current and past economic impact studies can be found at: http://www.usg.edu/economic_development/publications/studies