According to a recent study, Georgia College’s economic impact on the regional community reached more than $282 million for the 2020 fiscal year. The study was commissioned by the Board of Regents of the University System of Georgia.
“Georgia College is proud to be an important economic driver in our local economy,” said Dr. Steve Dorman, president of the university. “Among the many economic benefits our university provides, we sustain approximately 1,114 jobs on campus for community members, while also supporting 1,817 jobs off-campus through the products and services Georgia College’s employees and students purchase.”
The university’s economic impact extends to Baldwin, Bibb, Hancock, Jones, Putnam, Wilkinson and Washington counties.
The benefits of the college can be seen in the public and private sectors. According to a press release from Georgia College, for every job created on the campus, 1.6 jobs exist because of spending related to the college.
The University System of Georgia divided benefits into several categories. Some categories include spending by students, spending by the institution and operating supplies and expenses. The categories are all measured to determine the economic impact of institutions.
Student spending was over $122 million in the region for the 2020 year. According to the study, 2,931 jobs were created thanks to the institution.
The research also showed that the total economic impact of all 26 institutions under USG was $18.6 billion for the 2020 fiscal year.
Data was collected from July 1, 2019, through June 30, 2020, to determine the economic impact of colleges and universities under USG.