GCSU makes $303 million impact on local economy generating 3,000+ jobs

Finance & Administration     Friday August 11, 2023
Produced by University Communications

G eorgia College & State University’s impact on the regional economy grew more than $18 million in Fiscal Year (FY) 2022. That is up 6.4% to $303 million from $285 million in FY 2021.

Numbers come from a new study commissioned by the University System of Georgia (USG) Board of Regents.

“
This report highlights the vital contribution Georgia College & State University brings to Baldwin County and our surrounding counties. As the largest employer in the county, our nearly $65 million payroll of course contributes to the local economy. But the spending power of the university, combined with the dollars our students, faculty and staff spend in local shops and restaurants also generates jobs, higher incomes and greater production of goods and services in central Georgia.
– President Cathy Cox
”

“In addition to the economic impact of GCSU, we aim to provide cultural resources for all ages, educational and sports camps for kids, and continuing learning opportunities for life,” Cox continued. “The thousands of volunteer hours our students contribute to the community also enhances the quality of life here. Having a state university in our area is a win-win situation for everyone.”

“
In addition to the economic impact of GCSU, we aim to provide cultural resources for all ages, educational and sports camps for kids, and continuing learning opportunities for life. The thousands of volunteer hours our students contribute to the community also enhances the quality of life here. Having a state university in our area is a win-win situation for everyone.
– Cathy Cox
”
For every job on campus, twice as many were created off campus.

In FY 2022, Georgia College generated 973 jobs on campus, while another 2,050 off-campus positions existed due to institution-related spending.

This economic impact extends to Baldwin, Bibb, Hancock, Jones, Putnam, Washington and Wilkinson counties.

The report was released by the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business. Its companion study showed graduates can expect to earn $1 million more in their lifetimes than they would without a bachelor’s degree.

Data was collected between July 1, 2021, and June 30, 2022, to determine economic impact.  During that period, USG’s 26 colleges and universities contributed more than $20 billion to the state economy—an increase of 4.14% or $800 million. USG institutions generated more than 159,000 full- and part-time jobs across the state—about 32% on campuses and 68% off.

USG institutions created the same employment impact statewide as Georgia’s top five employers combined, the study showed.

Economic impact was measured by initial operations, personnel and student spending at USG institutions. Total economic impact included the effect of initial spending and the secondary or indirect spending that occurs when initial expenditures are re-spent.