The University System of Georgia recently released the USG’s total economic impact on the state of Georgia. Of the more than $16 billion reported by the USG as a whole, Georgia Highlands College’s contribution was over $149 million.
The USG report is for Fiscal Year 2016 and is conducted by the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business.
GHC’s economic impact was exactly: $149,423,968.
This represents an increase of nearly $17 million from the Fiscal Year 2015 report, which means the college has increased its impact by more than $30 million since the Fiscal Year 2013 report.
The University System’s economic impact grew $1.3 billion, an increase of 8 percent, from fiscal year 2015 to 2016. The increase is attributed to “spending by the institution and spending by the students who attend that particular college or university.” On average, for every dollar spent by the university, an additional 52 cents is generated for that institution’s region.
“The University System is committed to its role in supporting and advancing the economic growth of the State of Georgia,” said Chancellor Steve Wrigley. “These numbers reflect the hard work and support of Georgians across the state, and we hope to continue to drive innovation, workforce development and job creation for years to come.”
The economic impact of the USG is a measure of direct and indirect spending that contributes to the regions served by the System’s colleges and universities.
To calculate the economic impact for FY16, the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business analyzed data collected between July 1, 2015, and June 30, 2016. The annual study is conducted on behalf of the Board of Regents by Jeffrey M. Humphreys, Ph.D., director of the Selig Center.
The full study with data for all USG institutions is available at: https://www.usg.edu/assets/usg/docs/USG_Impact_2016.pdf
Current and past economic impact studies can be found at: http://www.usg.edu/news/archive/category/economic_development