Local colleges and universities have a multimillion-dollar impact on local economies, according to a study from the University of Georgia.In fiscal year 2011, Gainesville State College and North Georgia College & State University had a combined economic impact of more than $377 million.The report comes from the Selig Center for Economic Growth at UGA and measured the economic impact the University System of Georgia has on the state.It showed that the system, with its 35 member institutions, has a $13.2 billion impact on the state’s economy.“Comparisons of the FY 2011 estimates to those for recent years show that our public colleges and universities really proved their economic worth during tough economic times,” said Jeffrey M. Humphreys, director of the Selig Center and study author. “Without exception, each college or university is an economic linchpin of its host community.”Gainesville State’s individual economic impact, according to the study, was more than $206 million in Hall, Gwinnett, White, Habersham, Lumpkin, Banks and Forsyth counties.North Georgia’s was more than $171.5 million in Lumpkin, Hall, Dawson, White, Forsyth and Union counties.“The study shows the important role the university plays in the economic strength of this region and the effect beyond the university’s initial spending,” said Bonita Jacobs, president of North Georgia. “Our students, faculty and staff represent a broad geographic expanse, and their work and study at the university impacts counties throughout the region.”Most of the impact consists of initial spending by the schools for salaries and benefits, operating supplies and expenses and other budgeted expenditures and student spending in the area.The rest of the impact is measured through respending in the region.
Gainesville State, North Georgia have $377 million impact in region