Georgia Southern University’s annual economic impact hit a record of $1.167 billion for the 2024 fiscal year, a 1.9% increase over 2023.
According to the University System of Georgia’s latest report, the system as a whole recorded a $23.1 billion total economic impact from July 1, 2023-June 30, 2024.
“Georgia Southern’s record economic impact across the region reflects the extraordinary dedication of our faculty and staff on all three campuses to ensuring we continue to meet the needs of our students and our region today and into the future,” said Georgia Southern President Kyle Marrero.
“We remain steadfast in our goals of graduating career-ready students, advancing the economic development of the region and elevating our public impact research enterprise.”
The report shows there are 3,096 jobs on Georgia Southern’s campuses in Statesboro, Savannah and Hinesville. Because of institution-related spending, an additional 6,627 jobs exist off-campus, totaling 9,723 jobs due to institution-related spending in fiscal year 2024.
The report also noted that Georgia Southern students spent $442,818,489 in the region in in that same time frame.
In addition, the University System’s newest Lifetime Earnings study found that bachelor’s degree graduates from the class of 2024 will earn, on average, more than $1.4 million above what they would without a college degree through their lifetime.
Across the entire USG, the analysis showed that the 73,006 degrees conferred by USG institutions can expect combined total lifetime earnings of $230 billion.
“A degree from one of USG’s 26 public colleges and universities is a million-dollar deal for graduates and a billion-dollar boost for Georgia,” USG Chancellor Sonny Perdue said. “Students see real returns through higher earnings and better opportunities. Meanwhile, our institutions power Georgia’s economy and help local communities thrive.”
Georgia high school graduates who obtain a bachelor’s degree will boost their state work-life earnings by 82%, surpassing the 80% increase estimated for the nation.
Georgia Southern conferred 5,172 degrees in FY 2024. This group of degree recipients can expect their combined work to total lifetime earnings of $16.54 billion. The report also broke down total Georgia lifetime earning predictions by degree:
• 102 GS graduates with doctoral degrees will earn a total of $429 million.
• 1,116 GS graduates with master’s degrees will earn a total of $3.8 billion.
• 3,870 GS graduates with bachelor’s degrees will earn a total of $12.5 billion.
• 45 GS graduates with associate degrees will earn a total of $97.9 million.
• 39 GS graduates with certificates will earn a total of $78.2 million.
The Economic Impact as well as the Lifetime Earnings studies were both conducted on behalf of the University System of Georgia by Jeffrey M. Humphreys, Ph.D., director of the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business.