The Economic Impact of University System of Georgia Institutions on Their Regional Economies. A Needs Assessment Study Commissioned by Georgia's Intellectual Capital Partnership Program[R] (ICAPP[R]) [electronic resource] / Sharon R. Duhart.
Using data from the 2 most recent fiscal years, this report calculates the economic benefits that the University System of Georgia's 34 institutions bring to their home regions and communities. The benefits are estimated for these categories: (1) spending by institutions themselves for salary a...
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| Format: | Electronic eBook |
| Language: | English |
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2002.
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| Summary: | Using data from the 2 most recent fiscal years, this report calculates the economic benefits that the University System of Georgia's 34 institutions bring to their home regions and communities. The benefits are estimated for these categories: (1) spending by institutions themselves for salary and fringe benefits, operating supplies, and expenses, and other budgeted expenses; (2) spending by the institutions for capital projects (construction); and (3) spending by the students who attend the institutions. The economic impacts estimates are based on regional input-output models of each institution's regional economy, certain necessary assumptions, and readily available data regarding annual spending in the three categories. In the simplest terms, the economic impact of all 34 University System institutions on their host communities was $8.0 billion in fiscal year (FY) 2001, down by 2.1% ($174 million) from the FY total of $8.2 billion. Of the total, 63% ($5.1 billion) is the initial spending by the institutions and students, and $3.0 billion (37%) is the induced or respending (multiplier) impact. On average, every dollar of initial spending generates an additional 56 cents for the economy of the host region. In FY 2001, value added comprises $4.8 billion of the output impact. The collective, or rolled-up, employment impact of all 34 institutions on their host communities is 101,427 jobs, approximately 43% of which are on campus. The report includes, in addition to the FY 2001 information, economic impact data for each of the 34 institutions and a detailed template that individual institutions may use to calculate specific local impact in FY 2002. One appendix is the template for estimating impact, and the other is a list of study areas for institutions. (SLD) |
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| Item Description: | ERIC Document Number: ED469340. Availability: For full text: http://www.icapp.org/pubs/economic_impact_final.pdf. ERIC Note: "Based on the methodology of Dr. Jeffrey M. Humphreys, Selig Center for Economic Growth, Terry College of Business, The University of Georgia." ICAPP[R] is the economic development program of the University System of Georgia. |
| Physical Description: | 37 pages. |