Georgia Southwestern drives over $100 million economic impact to region

AMERICUS, GA (August 15, 2024) — Georgia Southwestern State University’s (GSW) economic impact on the region was $100.8 million in fiscal year 2023, according to a new detailed report released by the University System of Georgia (USG). The report also revealed that GSW generated 1,127 full- and part-time jobs.

The USG and its 26 institutions served as a significant source of stability and played a critical role in the state’s recovery with a $21.9 billion total statewide economic impact, up 9 percent from the previous year.

A concurrent study found that 2023 graduates earning a bachelor’s degree will earn $1.4 million more during their lifetimes than they would have without their college degree.

“Over the past five years, Georgia Southwestern’s economic impact has been nearly $500 million total,” said GSW President Michelle Johnston, Ph.D. “We are proud that the financial effect is amplified by the direct impact of our phenomenal graduates and through the broad partnerships we have with business, industry, and non-profits; with health and medical centers, South Georgia Technical College, our regions’ school districts; with our city and county governments, Sumter County Development Authority, Sumter County Chamber of Commerce, and with the many organizations where our students complete internships and service projects. Together, we are shaping an incredibly bright future.” 

The annual study, conducted by the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business, reported most of GSW’s $100.8 million economic impact consists of personnel and operating expenses, budgeted expenditures and spending by students.

“USG continues to be a million-dollar deal for our graduates, and we have the data to prove USG degrees will help them increase their prosperity and success,” USG Chancellor Sonny Perdue said. “At the same time, we are a billion-dollar deal for Georgia. Our 26 public colleges and universities make a significant economic impact by helping to put Georgians to work and sustaining local communities across the state.”

The USG’s $21.9 billion total economic impact for Fiscal Year 2023, up from $20.1 billion in Fiscal Year 2022, included $14.6 billion in initial spending by students and by USG’s 26 institutions on personnel and operating expenses. The remaining $7.3 billion is the multiplier impact of those funds in a local community.

Of the 163,332 jobs generated by USG institutions, approximately 32 percent of the positions are on-campus jobs and 68 percent are off-campus. The study found that for each job created by a USG institution on its campus, two additional jobs are created in the local community. Data also show USG and its institutions create about the same employment impact in the state as Georgia’s top five employers combined.

The full economic impact report and lifetime earnings report are available on the USG’s website.