Georgia Southern's economic impact on region tops $1.1B

USG study: Class of 2022 can expect to realize $183B in work-life earnings

Georgia Southern film and multimedia production major Katie Duke, standing, meets up with her music major friends Hope Williams, Emily Land, Gracie Higgins and Jerryd Harper between classes outside the Foy Building on the first day of a new fall semester in this Wednesday, Aug. 11, 2021, file photo. Georgia Southern's annual economic impact soared to a record $1.107 billion for fiscal year 2022, a 7.3% increase over the previous year, according to reports from the University System of Georgia released this week. (SCOTT BRYANT/Herald file)

GS economic impact — Georgia Southern film and multimedia production major Katie Duke, standing, meets up with her music major friends Hope Williams, Emily Land, Gracie Higgins and Jerryd Harper between classes outside the Foy Building on the first day of a new fall semester in this Wednesday, Aug. 11, 2021, file photo. Georgia Southern's annual economic impact soared to a record $1.107 billion for fiscal year 2022, a 7.3% increase over the previous year, according to reports from the University System of Georgia released this week. (SCOTT BRYANT/Herald file)

New reports from the University System of Georgia show that Georgia Southern University continues to have a substantial economic impact on the region it serves, as well as on the students it graduates.

The USG recorded a $20.1 billion total economic impact from July 1, 2021, through June 30, 2022, while Georgia Southern's annual economic impact soared to more than $1.107 billion for fiscal year 2022, a 7.3% increase over the previous year and a new recorded total.

Conducted by Jeffrey M. Humphreys, Ph.D., director of the Selig Center for Economic Growth in the University of Georgia's Terry College of Business, the study found that the USG generated 159,034 full- and part-time jobs across Georgia last year.

In a companion study, Humphreys found that USG bachelor's graduates from the Class of 2022 will earn over $1 million more during their lifetimes than they would have without college degrees. Work-life earnings increase dramatically with education level, noted the report, adding that estimates for Georgia show that the Class of 2022 can expect to realize work-life earnings of $183 billion.

For the 5,502 degree recipients from Georgia Southern University in FY 2022, they can expect their work in Georgia to total lifetime earnings of $14.4 billion. The report also broke down total Georgia lifetime earning predictions by degree:

➤ The 99 GS graduates with doctoral degrees will earn a total of $340 million.

➤ The 1,207 GS graduates with master's degrees will earn a total of $3.3 billion.

➤ The 4,134 GS graduates with bachelor's degrees will earn a total of $10.5 billion.

In terms of economic impact, there are 3,250 jobs on Georgia Southern's campuses in Statesboro, Savannah and Hinesville. Because of institution-related spending, 6,795 jobs exist off-campus, meaning that a total of 10,045 jobs exist due to institution-related spending in FY 2022. The report also noted that Georgia Southern students spent $430,509,422 in the region in FY 2022.

"Georgia Southern's record annual regional economic impact illuminates the university's profound significance throughout this region," said Georgia Southern President Kyle Marrero. "We are meeting the needs of Southeast Georgia — now and in the future — developing talent, solving regional needs through our public impact research agenda and serving as the catalyst for economic development and vibrant communities."

The full reports are available online: USG Lifetime Earnings 2022 and USG Economic Impact 2022.

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