New reports from the University System of Georgia (USG) show that Georgia Southern continues to have a remarkable economic impact on the region it serves and on the students it graduates.
The USG recorded a $20.1 billion total economic impact from July 1, 2021 until June 30, 2022, while Georgia Southern’s annual economic impact has soared to more than $1.107 billion for FY 2022, a 7.3% increase over the previous year and a new recorded impact total.
Conducted on behalf of USG by Jeffrey M. Humphreys, Ph.D., director of the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business, the study showed USG generated 159,034 full- and part-time jobs across Georgia last year.
In a companion study, Humphreys found that USG bachelor’s graduates from the Class of 2022 will earn over $1 million more during their lifetimes than they would have without their college degree.
“Work-life earnings increase dramatically with education level,” the report said, noting that “work-life earnings estimates for Georgia show that the Class of 2022 can expect to realize work-life earnings of $183 billion.”
For the 5,502 degree recipients from Georgia Southern University in FY 2022, they can expect their work in Georgia to total lifetime earnings of $14.4 billion. The report also broke down total Georgia lifetime earning predictions by degree and said:
The 99 GS graduates with doctoral degrees will earn a total of $340 million.
The 1,207 GS graduates with master’s degrees will earn a total of $3.3 billion.
The 4,134 GS Graduates with bachelor’s degrees will earn a total of $10.5 billion.
In terms of economic impact, there are 3,250 jobs on Georgia Southern’s campuses in Statesboro, Savannah and Hinesville. Because of institution-related spending, 6,795 jobs exist off-campus, meaning that a total of 10,045 jobs exist due to institution-related spending in fiscal year 2022. The report also noted that Georgia Southern students spent $430,509,422 in the region in fiscal year 2022.
“Georgia Southern’s record annual regional economic impact illuminates the university’s profound significance throughout this region,” said Georgia Southern President Kyle Marrero. “We are meeting the needs of Southeast Georgia – now and in the future – developing talent, solving regional needs through our public impact research agenda and serving as the catalyst for economic development and vibrant communities.”
“These economic impacts demonstrate that continued emphasis on colleges and universities as pillars of the state’s economy translates into jobs, higher incomes, and greater production of goods and services,” the report said.
The full reports are available online: USG Lifetime Earnings 2022 and USG Economic Impact 2022.
