In north Georgia, the combined economic impact of North Georgia College & State University and Gainesville State College was $298 million, with an employment impact of 3,000 jobs. Statewide, the University System of Georgia had an $11 billion economic impact and is responsible for 2.6 percent of all jobs in the state...
North Georgia College & State University's impact on the regional economy was $145.7 million and 1,443 jobs during Fiscal Year 2007, according to a recent report from the Selig Center for Economic Growth in the University of Georgia's Terry College of Business.
The report showed that the economies of six Georgia counties – Lumpkin, Hall, Dawson, White, Forsyth and Union – directly benefited from the university’s impact on the region. The figures include the impact of NGCSU construction projects under way on the main campus in Dahlonega, as well as local spending by university employees and students.
NGCSU has more than 5,000 students and 755 employees. Two major capital construction projects and a building renovation project, started in FY07 and totaling $50 million, will be completed later this year on the Dahlonega campus. The university will expand its economic impact in August when it opens a new program in Forsyth County for a Master of Business Administration degree.
"We've always placed a high value on our relationship with the community," said Frank "Mac" McConnell, NGCSU vice president for business and finance. "This report is just one of the ways we take stock of ourselves as a good neighbor. Especially during an economic downturn like the one we are experiencing now, it's gratifying to know that we continue to have such a positive impact on the region."
The report indicates that in north Georgia, the combined economic impact of NGCSU and Gainesville State College was $298 million with an employment impact of 3,000 jobs. Statewide, the University System of Georgia had an $11 billion economic impact and is responsible for 2.6 percent of all jobs in the state.
"These economic impacts demonstrate that continued emphasis on higher education as an enduring pillar of the regional economy translates into jobs, higher incomes, and greater production of goods and services for local households and businesses," the report's authors concluded.
Jeffrey Humphreys, director of the Selig Center, wrote that the figures provided in the report are actually lower than the total economic impact of USG institutions on their communities. The economic impact of an educated community, the revenues produced through events sponsored by the campus, and the spending of USG retirees and visitors to the campus are difficult to calculate and are not included in the report.
The Intellectual Capital Partnership Program has commissioned an annual report on the economic impact of the University System of Georgia every year since 2000. Each year the report demonstrates the increasing impact of the USG on Georgia's overall economy.