University system economic impact grows to $19.3 billion
The University System of Georgia (USG) generated an economic impact of $19.3 billion across the state during the last fiscal year, up $700 million – or 3.8% – over fiscal 2020. That economic impact translated into 152,629 fulland part-time jobs, about a third of which were on campus and two-thirds off campus.
“USG institutions and the system as a whole are key contributors to our state and an economic engine for communities in every region of Georgia,” system Chancellor Sonny Perdue said Monday. “That economic impact continues to climb.”
The $19.3 billion in economic impact in fiscal 2021 includes $13.1 billion in spending by students and the 26 institutions in the university system, a portion of which came in the form of federal pandemic relief. The remaining $6.2 billion was the multiplier effect those funds had in communities across Georgia.
The annual economic impact report was produced by Jeff Humphreys, director of the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business.