JULY 11, 2013 – SPSU’s impact on Georgia and, most significantly, Cobb County, in Fiscal Year 2012 totaled more than $222.7 million, according to a newly released study by the Board of Regents of the University System of Georgia (USG).
The previous report, based on fiscal year 2011 data, placed SPSU’s economic impact at more than $198 million. This year’s data represent a 12 percent increase in the university’s economic impact over the last 12 months and a nearly 16 percent increase in the last 24 months.
The numbers from the report were calculated based on sales, gross regional product, income and full- or part-time jobs during the period of July 1, 2011-June 30, 2012. SPSU provides an economic influence to its surrounding community, contributing more than 2,000 jobs and adding millions of dollars to the local and regional economy in personal services, construction expenditures and student spending.
The study determined that the economic impact to the state of all 31 of Georgia’s public colleges and universities totaled $14.1 billion in fiscal year 2012. The study also indicated that Georgia's public higher education system generated nearly 139,270 full- and part-time jobs or 3.6 percent of all the jobs in Georgia.
The Board of Regents commissioned the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business to analyze the data collected. The full study with data for all 31 USG institutions is available at http://www.usg.edu/economic_development/documents/usg_Impact_fy2012.pdf