Among the University System of Georgia's state colleges, Georgia Perimeter College had the greatest economic impact of $774 million and 7,221 jobs in fiscal year 2012, according to a recent study.
Fiscal Year 2011's impact was $713 million and 6,762 jobs. GPC's increased economic impact on the region can be felt from Newton to Dunwoody to Alpharetta.
"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.
An annual study of the USG'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 System¹s 31 colleges and universities.
To calculate the economic impact for FY12, the Selig Center for Economic Growth in the University of Georgia¹s 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 and the study is conducted 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 USG¹s 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 system¹s economic impact on Georgia's communities. That gain far outstrips inflation, which was only 38 percent over this same time period, Humphreys said.