KENNESAW, GA — Kennesaw State University has contributed over $1.6 billion to the State of Georgia in the 2020 fiscal year, according to a recent report by the University System of Georgia. The total impact of all 26 USG institutions on the state was $18.6 billion.
USG’s measures of economic impact show both direct and indirect spending that contributes to the region and communities served by its universities and colleges.
The report assesses economic impact regarding output such as sales, plus or minus inventory, value-added such as gross regional product, labor income, and the number of jobs.
Approximately $1.02 billion of Kennesaw State’s FY 2020 total economic impact is initial spending — defined as spending by the institution for its operating expenses, personnel services and expenditures by that institution’s students.
Re-spending — the ripple effect of an institution and its employees and students buying goods or services from other industries in the community — generated the rest of the impact.
“Kennesaw State is a powerful driver of economic value for our region and the state of Georgia,” said Kathy Schwaig, interim president of Kennesaw State University.
“As we continue to expand our academic programs, the benefits extend well beyond our campuses as the University drives innovation, workforce development and job creation,” added Schwaig.
In the last fiscal year, Kennesaw State’s collective employment impact was 13,630 full and part-time jobs, consisting of 3,985 jobs in the university and 9,645 jobs in the community.
“With strong support from the state and significant planning from our campuses, USG’s economic impact on local communities across Georgia held steady despite a challenging year,” Acting USG Chancellor Teresa MacCartney said.
“At the same time, a degree from a USG institution continues to add real value to the lives of our graduates and their families. We remain focused on doing everything in our power to help more Georgians complete college and ensure our state has a well-prepared, highly skilled workforce to grow Georgia’s economy,” said MacCartney.
The annual USG study was conducted by the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business.
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