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DAHLONEGA – North Georgia College
& State University’s economic impact on Lumpkin County and the surrounding
counties of Dawson, Hall, Union and White was $95.7 million in Fiscal Year
2001, according to a study by Jeffrey Humphreys, director of economic
forecasting in the Selig Center for Economic Growth at the University of
Georgia.
The Intellectual Capital Partnership Program, ICAPP, an initiative of the
Board of Regents’ Office of Economic Development, commissioned Humphreys’
study to enhance understanding of how the University System of Georgia
contributes to the state’s economy.
He analyzed three categories of college- and university-related
expenditures; spending by the institutions themselves for salaries and
fringe benefits, operating supplies and expenses, and other budgeted
expenditures; spending by the institutions on capital construction projects;
and spending by the students who attend the universities.
“The University System of Georgia truly is an economic engine that helps to
power our state on many levels, from producing graduates to building capital
projects, to leveraging our employment and spending power,” said USG
Chancellor Thomas C. Meredith. “Humphreys’ study documents our value in very
specific terms, adding dimension to the many intangibles our campuses
contribute to the economy on a daily basis.”
Of North Georgia’s total economic impact, $62.9 million represents initial
spending by the university and the students attending classes. The remaining
$32.8 million represents the impact generated by the re-spending of these
dollars. The study concludes that, on average, every dollar spent by a USG
institution or student injects an additional 56 cents into the host region’s
economy.
The employment impact North Georgia has had in the region includes 1,260
full-time and part-time jobs. The university employs 556 people, with a
full-time equivalent of 386 jobs. Off-campus jobs that exist due to
university-related spending total 875 full-time and part-time employment.
On average, for each position created on campus, 1.4 off-campus jobs exist
because of spending related to the institution, Humphreys noted. North
Georgia’s total labor-income impact on the region equaled $42.5 million
during the year.
Georgia’s 34 public colleges and universities together generated nearly
101,500 jobs and infused $8 billion into local communities, according to the
Selig Center, a public service unit of the Terry College of Business at UGA.
Humphreys said the 101,427 jobs at the USG’s 34 institutions represented 2.8
percent of all the jobs in Georgia, or about one job in 37 during FY ‘01.
Approximately 43 percent of the University System’s jobs are on campus –
representing employees of the University System of Georgia – and 57 percent
are off-campus in either the private or public sectors. Altogether, the
system generated $3.7 billion in labor income in FY 2001.
The researcher cautions that the figures in his study are conservative,
noting that the actual economic impact of the University System of Georgia
is much higher than his report reflects, because it does not factor in such
figures as spending by people who visit USG campuses to attend meetings,
athletic events and reunions; spending by USG retirees who have remained in
the region; and income earned by USG employees through consulting and other
activities.
The complete report is available on the University System’s website at
www.usg.edu under the ‘Publications’ link. |