14/08/2024 | Press release | Distributed by Public on 14/08/2024 20:11
Included in UNG's economic impact is almost $273 million in spending by about 18,000 students, which alone created 2,855 jobs in the area. On average, for every dollar spent by the university, an additional 44 cents are generated for the region.
UNG has campuses in Blue Ridge, Cumming, Dahlonega, Gainesville, and Oconee County. The study area included those communities and the contiguous counties - Barrow, Clarke, Dawson, Fannin, Forsyth, Gilmer, Gwinnett, Hall, Jackson, Lumpkin, Madison, Oconee, Union, and White counties. Study areas for each school in the report were defined based on the Residence County to Workplace County Flows for Georgia, 2009-2013 from the U.S. Census Bureau.
UNG also had a regional employment impact of 6,110 jobs in the same period. The employment impact includes 1,893 on-campus jobs. The report noted that on average, for each job created on campus, more than two off-campus jobs exist because of spending related to the institution.
As a whole, all USG public colleges and universities in 2023 had a statewide impact of $21.9 billion, a 9% increase.
Conducted on behalf of USG 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 also showed USG over the same period generated 163,332 full- and part-time jobs across Georgia.
Humphreys' companion study found that USG bachelor's graduates from the class of 2023 on average will earn $1.4 million more during their lifetimes than they would have without their college degree, supporting the value of higher education, especially for high school graduates who earn a bachelor's degree. UNG academic programs range from associate to doctoral programs, and, among USG institutions, UNG was one of the top degree-conferring universities in 2023.
"USG continues to be a million-dollar deal for our graduates, and we have the data to prove USG degrees will help them increase their prosperity and success," USG Chancellor Sonny Perdue said. "At the same time, we are a billion-dollar deal for Georgia. Our 26 public colleges and universities make a significant economic impact by helping to put Georgians to work and sustaining local communities across the state."