Economic
Impact of AASU Grows to $162 million,
2,167 Jobs Generated
Savannah,
GA—January 18, 2005—Armstrong Atlantic State University's
economic impact on Savannah's metropolitan statistical area was $162
million and 2,167 jobs during fiscal Year 2004 (July 1,2003-June 30,
2004), according to a recent study conducted by the Selig Center for
Economic Growth in the University of Georgia's Terry College of Business
for the University System of Georgia (USG).
This is the first year the study did not include the economic impact
of construction projects on the University System's campuses. Because
of this change, some University System institutions may show a decline
in overall economic impact, despite the fact there may have been a
significant increase in enrollment over the time period between the
two studies.
The study was conducted to calculate the economic impact of USG's
34 institutions of higher learning. In addition to the $9.7 billion
in "output impact" generated by the University System, the
study found that public higher education is responsible for 2.8 percent
of Georgia's workforce, or 106,831 full- and part-time jobs.
Regionally,
the study measured expenditures by AASU itself, and expenditures by
students who attend AASU. Overall, "total output" spending
by the university and its students totaled 162 million. The university’s
operating budget and payroll generated 85 million dollars worth of
local spending, including both the direct spending by the university,
faculty, and staff, and the effects of that spending on business incomes.
Of the 85 million dollars in spending, 65 million dollars in spending
resulted from the faculty and staff payroll, and 20 million resulted
from operating expenses, including costs such as plant operations,
capital projects and maintenance. Student spending, which includes
rent, utilities, entertainment, and other items, generated $77 million
in total expenditures after accounting for the effects on business
income.
As a result of this spending, Armstrong Atlantic together with the
spending of its students generated a total of 2,167 jobs, 751 on-campus
at AASU and 1,416 off-campus. The spending of the university itself
generated 1,149 jobs and student spending generated 1,018 jobs. In
summation, for every job at AASU 1.9 jobs are created. The total of
2,167 jobs , includes those held by AASU employees as well as new
jobs generated to fill the business and service needs of university
employees and students.
The Armstrong Atlantic State University service area includes Chatham,
Effingham, Bryan, Liberty, and Bulloch counties.
Note: A complete copy of the report can be accessed on the web at:
http://www.icapp.org/pubs/impact
