Click here to read the full economic impact report.
The University System of Georgia announced Monday that Georgia Southern University continues to have a powerful economic impact on the Southeast Georgia region. In fact, a study revealed Georgia Southern’s annual economic impact has soared past more than $1 billion for FY 2021, a 7.4% increase over FY 2020.
As a whole, the University System generated an economic impact of $19.3 billion across the state during the last fiscal year, up $700 million – or 3.8% – over fiscal 2020.
“We faced unprecedented challenges in FY 2021, but we’ve come out stronger than ever,” said Georgia Southern President Kyle Marrero. “With more than $1.03 billion of direct impact on southeast Georgia, Georgia Southern will continue to create more academic programs that meet specific needs for economic development. Informed by our regional academic plan and University strategic plan, we’re committed to making our region a thriving economic hub in Georgia.”
The report found the state-wide economic impact demonstrates that continued emphasis on colleges and universities as a pillar of the state’s economy translates into jobs, higher incomes and greater production of goods and services.
The University System directly creates 152,629 full- and part-time jobs, about a third of which were on campus and two-thirds off campus.
“USG institutions and the system as a whole are key contributors to our state and an economic engine for communities in every region of Georgia,” system Chancellor Sonny Perdue said Monday. “That economic impact continues to climb.”
There are 3,250 jobs on Georgia Southern’s campuses in Statesboro, Savannah and Hinesville. Because of institution-related spending, 6,363 jobs exist off-campus.
The system’s $19.3 billion in economic impact in fiscal 2021 includes $13.1 billion in spending by students and the 26 institutions in the university system, a portion of which came in the form of federal pandemic relief. The remaining $6.2 billion was the multiplier effect those funds had in communities across Georgia.
The study indicates Georgia Southern’s “initial spending” is $806,753,630, broken down into three areas:
- $235,513,929 on personnel services;
- $161,882,006 on operations;
- $409,357,695 spent by Georgia Southern’s students.
The full report is available at economic impact https://www.usg.edu/assets/usg/docs/news_files/USG_FY_2021_Economic_Impact.pdf.