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EGSC’s economic impact over $80 million for fiscal year 2018

EGSC’s economic impact over $80 million for fiscal year 2018

by .(JavaScript must be enabled to view this email address) | September 06, 2019
Last Edited: September 18, 2019 by Harley Strickland
EGSC’s economic impact over $80 million for fiscal year 2018

   An annual study of the University System of Georgia’s (USG) economic impact shows that East Georgia State College (EGSC) had an $80,952,494 impact on the communities in its region during fiscal year 2018.

   EGSC’s service region includes Emanuel, Bulloch, Candler, Jefferson, Johnson, Burke, and Toombs Counties. With its three campuses in Swainsboro, Statesboro and Augusta, EGSC has a regional employment impact of 969 jobs. This employment impact includes on-campus positions and off-campus jobs that exist due to the institution.

   “This economic impact of the college on the community has the potential to grow significantly in the future,” said EGSC President Dr. Bob Boehmer.  “This future growth will require the college to work closely and creatively with our partners in education in this area and business and government leaders to increase understanding of the importance of going to college by all segments of our community including working adults seeking to maintain pace with our changing economic environment, military personnel and recent high school graduates.”

   “You cannot underestimate the value of education and the value that East Georgia State College brings to this region of Georgia,” said EGSC Vice President for Institutional Advancement, Elizabeth Gilmer. “More than just the economic impact, it is the multiplier effect of having the quality of people in Swainsboro, Statesboro and Augusta – the professors, the staff and administrators, and the students – that add so much to our area.”

   The economic benefits that the USG’s institutions convey to the communities in which they are located are estimated for several important categories of college/university-related expenditures: spending by the institutions themselves for salaries and fringe benefits, operating supplies and expenses, and other budgeted expenditures; spending by the students who attend the institutions; and spending by the institutions for capital projects (construction). The economic impact estimates are based on regional input-output models of each institution’s regional economy, certain necessary assumptions, and available data on annual spending in the specified categories. Moreover, the emphasis is on funds received by residents in the region that hosts each college or university. The study reports expenditures and impacts for the 2018 fiscal year—July 1, 2017 through June 30, 2018.

   The annual study also stated that the total economic impact of the 26 institutions in the state of Georgia on their host communities was $17.7 billion in FY 2018. This is an increase from FY 2017’s $16.8 billion in total economic impact of institutions.