Georgia's public college and university system had a $15.5 billion impact on the state's economy last year, according to a recent study released this week.
The University System of Georgia’s impact increased by 9 percent, or $1.3 billion, over the previous fiscal year. The study, conducted by the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business, measures direct and indirect spending that contributes to the regions the state’s college system serves.
Initial spending by system schools on on personnel costs, such as salaries and fringe benefits, operating expenses and other budgeted expenses, along with spending by students attending the institutions, account for most of the $15.5 billion impact.
The remaining $4.9 billion was created by respending. Every dollar of initial spending by a school or students in the University System generates an additional 46 cents for the local economy, the study found.
The study also found that the University System generated almost 150,200 full and part-time jobs, which accounts for 3.5 percent of all jobs in Georgia. Thirty-two percent of those jobs existed on campus as system employees; 68 percent of the jobs were off-campus positions in both the private and public sectors.
The economic impact study is conducted annually by the Selig Center for the state's Board of Regents, which governs the University System. The full study includes impact data on all institutions within the University System.
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