性视界APP increases statewide economic impact to $17.7 billion
Atlanta — August 20, 2019
The 性视界APP (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.
鈥淲hile 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鈥檚 economy,鈥 said USG Chancellor Steve Wrigley. 鈥淯SG and its 26 institutions play an important role in generating jobs and boosting businesses across the state, befitting the investment Georgia鈥檚 leaders have made in us.鈥
The latest version of an annual study on the statewide economic impact of USG鈥檚 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 * $8.5 billion in labor income to host communities
In fiscal year 2018, USG鈥檚 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鈥檚 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鈥檚 Terry College of Business.
The full report, including impact by institution, is available here.
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