ATLANTA, GA - University System of Georgia, or USG, released economic data that reveals Georgia State University's huge economic impact. The institutions contribute almost $2.8 billion to the state of Georgia.
In 2020, USG held a crucial role in the state's recovery. The system made $18.6 billion and generated over 150,00 jobs. This achievement rose by 0.6 percent compared to 2019.
A new study founds that students under the University System of Georgia were also getting benefits by earning approximately $852,162 during their careers after getting their USG degree.
"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," said Teresa MacCartney, acting chancellor.
The economic study found every dollar spent in the university will contribute about 47 cents to the economy around them. An addition of $12.7 billion was made in $18.6 billion profit. The local community also felt the impact by getting $5.9 billion supported by the USG presence.
"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.
Reports stated that USG institutions are the main source of economic stability in Georgia.
An annual study conducted by Dr. Jeffrey M. Humphreys, reveals that the campus generated 34 percents job, or about 52,904 positions, while the 66 percent or about 102,106 positions is happening outside of campus in the public or private sector.
Another study conducted by Alexandra P. Hill shows that in 2020 USG graduates in Georgia gathered $175 billion in their lifetime earnings, 34 percent of that number ($59 billion) is supported by their degree.
In overall number, Georgia residents with certificates gathered $238,455 on average of their work-life, while residents with associate and bachelor's degrees are making $377,000 and $1,152,500.
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