April 30, 2024
ATLANTA – The University System of Georgia delivered an economic impact of $20.1 billion in fiscal 2022, up $800 million, or 4.14%, over the previous year, system Chancellor Sonny Perdue announced Tuesday.
That economic impact included $14.2 billion in direct spending by students and the system’s colleges and universities. The remaining $5.9 billion is the multiplier effect that direct spending had in local communities.
“[The University System of Georgia's] 26 public colleges and universities, individually and collectively, make a significant economic impact across the state, helping to put Georgians to work while spending money in local communities and helping their regional economies support Georgia’s growth,” Perdue said.
Of the 159,034 full- and part-time jobs generated by University System of Georgia institutions, 32% were on campus and 68% were off campus, according to the economic impact study, which was conducted by the University of Georgia’s Terry College of Business. The data also showed the system and its institutions create the same employment impact in Georgia as the state’s top five employers combined.
A companion study, completed by Terry College’s Selig Center for Economic Growth, found that bachelor’s degree holders will earn more than $1.1 million more during their lifetimes than they would have without a college degree.
For those with a master’s degree from a University System of Georgia school, that lifetime earnings number went up to $1.4 million.
