Georgia Tech’s Economic Impact Reaches Record $5.3 Billion for Fiscal Year 2023

For Fiscal Year 2023, Georgia Tech has made a record economic impact of $5.3 billion, the highest of any public institution in the state, according to a new report by the University System of Georgia (USG).

The report, conducted by the Selig Center for Economic Growth in the University of Georgia's Terry College of Business, reveals that Georgia Tech's economic impact has grown by 38% since 2019, significantly outpacing the overall growth of 19% across the entire USG system during the same period. Georgia Tech now accounts for 24% of USG's total economic impact, up from 21% in 2019, and is responsible for 42% of all economic growth within the USG since 2019.

In addition to its financial contributions, Georgia Tech also leads in the state in employment impact, supporting almost 34,000 jobs - more than any other institution in Georgia. The university's growth in economic impact stands at 17.7%, the highest in Georgia.

"As a public institution of higher education committed to Progress and Service, we are pleased to contribute to the state's economic impact," said Ángel Cabrera, president of Georgia Tech. "We are proud to elevate Atlanta and the entire state through the talent we cultivate, the research we conduct, and the innovation and entrepreneurship we champion."

Tech's economic impact is part of the larger $21.9 billion contribution made by USG's 26 institutions to the state's economy during the same period.

The report also highlighted the long-term value of a college degree. USG bachelor's graduates from the Class of 2023 are expected to earn $1.4 million more over their lifetimes - compared to those without a college degree. Georgia Tech graduates play a leading role in this projection.

For more details on Georgia Tech's economic impact and the USG's broader contributions, the full reports are available on the USG website.