GPC has high­est eco­nomic im­pact of all state col­leges

The Covington News - - EDUCATION | OBITUARY - STAFF RE­PORTS news@cov­

A re­cent study found that Ge­or­gia Perime­ter Col­lege had the great­est eco­nomic im­pact of all of Ge­or­gia’s state col­leges in the Univer­sity Sys­tem of Ge­or­gia last year, an im­pact that the study listed as $774 mil­lion and 7,221 jobs.

Fis­cal year 2011’s im­pact was $713 mil­lion and 6,762 jobs.

An an­nual study of the Univer­sity Sys­tem’s eco­nomic im­pact on the state records an over­all 7.4 per­cent in­crease from fis­cal year 2011 to 2012. In cash, that is a jump of $980 mil­lion, from $13.2 bil­lion to a new high of $14.1 bil­lion of di­rect and in­di­rect spend­ing fu­el­ing the re­gions served by the Sys­tem’s 31 col­leges and uni­ver­si­ties.

To cal­cu­late the eco­nomic im­pact for FY12, the Selig Cen­ter for Eco­nomic Growth in the Univer­sity of Ge­or­gia’s Terry Col­lege of Busi­ness an­a­lyzed data col­lected be­tween July 1, 2011, and June 30, 2012. The an­nual study is con­ducted on be­half of the Board of Re­gents by Dr. Jef­frey M. Humphreys, di­rec­tor of the Selig Cen­ter.

“We have been an­a­lyz­ing the Univer­sity Sys­tem’s eco­nomic im­pact for a num­ber of years and what is clear is the im­por­tance of th­ese col­leges and uni­ver­si­ties on lo­cal and state economies from just about ev­ery vari­able: di­rect spend­ing, in­come, pro­duc­tion of goods and ser­vices and jobs,” said Humphreys.

The first study in the se­ries cal­cu­lated the USG’s im­pact at $7.2 bil­lion in FY1999. The lat­est $14.1 bil­lion rep­re­sents a $7.0 bil­lion in­crease since FY 1999 – or 98 per­cent growth in the sys­tem’s eco­nomic im­pact on Ge­or­gia’s com­mu­ni­ties. That gain far out­strips in­fla­tion, which was 38 per­cent over the same time pe­riod, Humphreys said.

“We are proud to con­tinue our mis­sion of pro­vid­ing ac­cess to a high-qual­ity, af­ford­able col­lege ed­u­ca­tion while also be­ing a pow­er­ful force in the re­gion’s econ­omy,” said GPC In­terim Pres­i­dent Rob Watts.

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