UNG economic impact tops $750 million

A new study from the state Board of Regents assesses the annual economic impact of the University of North Georgia, saying UNG had a fiscal footprint of more than $755 million in 2021, up more than four percent from 2020.

From Clark Leonard, UNG…

The impact includes $722.8 million in spending and jobs and an additional $32.4 million impact attributed to capital construction projects. The annual study of the University System of Georgia’s economic impact measures direct and indirect spending that contributes to the university’s service region.

“UNG is deeply committed to the success of our students and the strength and prosperity of the communities we serve. This report shows that UNG continues to be a positive catalyst for economic growth and community development across the northeast Georgia region and beyond,” UNG President Bonita C. Jacobs said.

Included in UNG’s economic impact is $278.5 million in spending by about 19,000 students, which alone created 3,003 jobs in the area. On average, for every dollar spent by the university, an additional 47 cents is generated for the region.

The study area for UNG was Barrow, Clarke, Dawson, Fannin, Forsyth, Gilmer, Gwinnett, Hall, Jackson, Lumpkin, Madison, Oconee, Union, and White counties. These counties are where UNG campuses are located and contiguous communities. Study areas for each school in the report were defined based on the Residence County to Workplace County Flows for Georgia, 2009-2013 from the U.S. Census Bureau.

UNG, which has campuses in Blue Ridge, Cumming, Dahlonega, Gainesville, and Oconee County, also had a regional employment impact of 6,325 jobs in the same period. The employment impact includes on-campus and off-campus jobs. The report noted that on average, for each job created on campus, two off-campus jobs exist because of spending related to the institution.

As a whole, all USG public colleges and universities in 2021 had a statewide impact of $19.3 billion, a 3.8% increase. The system directly and indirectly generated 152,629 jobs.

“USG institutions and the system as a whole are key contributors to our state and are an economic engine for communities in every region of Georgia,” USG Chancellor Sonny Perdue said. “That economic impact continues to climb, and we are grateful to Governor Brian Kemp and the General Assembly for their support of the university system and public higher education as we focus on increasing prosperity for the state and all Georgians.”

The annual study is conducted on behalf of the Board of Regents by Jeffrey M. Humphreys, Ph.D., director of the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business.

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