The University System of Georgia's annual economic impact study shows the University of North Georgia had a $496 million impact on the communities in its region during the 2015 fiscal year, up 14 percent from the previous year.
UNG President Bonita C. Jacobs believes the university's economic role in north Georgia is significant and is growing.
UNG President Bonita C. Jacobs believes the university's economic role in north Georgia is significant and is growing.
"The value the university adds to the region's quality of life and cultural opportunities, the health of our communities, and the preparation of a highly educated workforce to meet the region's needs is tremendous," said Jacobs.
UNG, which has campuses in Blue Ridge, Cumming, Dahlonega, Gainesville, and Oconee County, also had a regional employment impact of 5,033 jobs in the same period. The employment impact includes on-campus positions and off-campus jobs that exist due to the institution.
The study area for UNG included Banks, Dawson, Forsyth, Gwinnett, Habersham, Hall, Jackson, Lumpkin, Union, and White counties.
Most of UNG's $496 million economic impact consists of initial spending by the university for salaries and benefits, operating supplies and expenses, and other budgeted expenditures. Included in UNG’s economic impact is $209 million in spending by UNG’s more than 17,000 students, which alone created 2,698 jobs in the study area.
According to Ruben Boling, Director of the Center for the Future of North Georgia in UNG's Mike Cottrell College of Business, the growth of the university has had a positive impact on entrepreneurship and startups
"The increase in students and spending presents opportunities for growth in new businesses in a couple of ways. As the student base grows it is becoming more diverse with changing wants and needs to be met by new entrepreneurial businesses. In addition, other opportunities are created by the increased demand on existing businesses with needs to support the growth," said Boling.
As a whole, the 31 public colleges and universities that comprised the USG in 2015 had an impact of $15.5 billion on the state, representing a $1.3 billion increase from the previous year.
The study found that Georgia's public university system generated more than 150,000 full- and part-time jobs. Approximately 33 percent of these positions are on campus as USG employees and 67 percent are off-campus positions in either the private or public sectors. The report also noted that on average, for each job created on campus, there are two off-campus jobs that exist because of spending related to the institution.
To calculate the economic and employment impact for fiscal year 2015, the Selig Center for Economic Growth in the University of Georgia's Terry College of Business, on behalf of the Board of Regents, analyzed data collected between July 1, 2014 and June 30, 2015.
UNG, which has campuses in Blue Ridge, Cumming, Dahlonega, Gainesville, and Oconee County, also had a regional employment impact of 5,033 jobs in the same period. The employment impact includes on-campus positions and off-campus jobs that exist due to the institution.
The study area for UNG included Banks, Dawson, Forsyth, Gwinnett, Habersham, Hall, Jackson, Lumpkin, Union, and White counties.
Most of UNG's $496 million economic impact consists of initial spending by the university for salaries and benefits, operating supplies and expenses, and other budgeted expenditures. Included in UNG’s economic impact is $209 million in spending by UNG’s more than 17,000 students, which alone created 2,698 jobs in the study area.
According to Ruben Boling, Director of the Center for the Future of North Georgia in UNG's Mike Cottrell College of Business, the growth of the university has had a positive impact on entrepreneurship and startups
"The increase in students and spending presents opportunities for growth in new businesses in a couple of ways. As the student base grows it is becoming more diverse with changing wants and needs to be met by new entrepreneurial businesses. In addition, other opportunities are created by the increased demand on existing businesses with needs to support the growth," said Boling.
As a whole, the 31 public colleges and universities that comprised the USG in 2015 had an impact of $15.5 billion on the state, representing a $1.3 billion increase from the previous year.
The study found that Georgia's public university system generated more than 150,000 full- and part-time jobs. Approximately 33 percent of these positions are on campus as USG employees and 67 percent are off-campus positions in either the private or public sectors. The report also noted that on average, for each job created on campus, there are two off-campus jobs that exist because of spending related to the institution.
To calculate the economic and employment impact for fiscal year 2015, the Selig Center for Economic Growth in the University of Georgia's Terry College of Business, on behalf of the Board of Regents, analyzed data collected between July 1, 2014 and June 30, 2015.
