A recent study found that Georgia Perimeter College had the greatest economic impact of all of Georgia’s state colleges in the University System of Georgia last year, an impact that the study listed as $774 million and 7,221 jobs.
Fiscal year 2011’s impact was $713 million and 6,762 jobs.
An annual study of the University System’s economic impact on the state records an overall 7.4 percent increase from fiscal year 2011 to 2012. In cash, that is a jump of $980 million, from $13.2 billion to a new high of $14.1 billion of direct and indirect spending fueling the regions served by the System’s 31 colleges and universities.
To calculate the economic impact for FY12, the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business analyzed data collected between July 1, 2011, and June 30, 2012. The annual study is conducted on behalf of the Board of Regents by Dr. Jeffrey M. Humphreys, director of the Selig Center.
"We have been analyzing the University System’s economic impact for a number of years and what is clear is the importance of these colleges and universities on local and state economies from just about every variable: direct spending, income, production of goods and services and jobs," said Humphreys.
The first study in the series calculated the USG’s impact at $7.2 billion in FY1999. The latest $14.1 billion represents a $7.0 billion increase since FY 1999 – or 98 percent growth in the system’s economic impact on Georgia’s communities. That gain far outstrips inflation, which was 38 percent over the same time period, Humphreys said.
"We are proud to continue our mission of providing access to a high-quality, affordable college education while also being a powerful force in the region’s economy," said GPC Interim President Rob Watts.