News Summary
Georgia Southern University has reported an economic impact of $1.167 billion, showing a 1.9% increase. This includes direct employment of over 3,000 individuals and significant student contributions to the local economy. A study reveals that GSU graduates can expect substantial lifetime earnings compared to non-degree holders, highlighting the university’s role in enhancing regional economic vitality.
Statesboro, Georgia – Georgia Southern University (GSU) has recorded a significant economic impact of $1.167 billion for the fiscal year 2024, marking a 1.9% increase over the previous year. This achievement contributes to the University System of Georgia’s (USG) reported total economic impact of $23.1 billion during the same period.
The GSU campuses in Statesboro, Savannah, and Hinesville play a crucial role in this economic landscape, directly employing 3,096 individuals. In addition to these direct jobs, institution-related spending has supported 6,627 jobs in the surrounding communities, bringing the total to 9,723 jobs resulting from GSU’s activities in fiscal year 2024.
Furthermore, students at Georgia Southern made substantial contributions to the local economy, spending approximately $442,818,489 in the region throughout the fiscal year.
In conjunction with these economic figures, a new study by USG on lifetime earnings indicates that graduates from GSU’s class of 2024 can expect to earn significantly more over their lifetimes compared to individuals without a college degree. The findings reveal that bachelor’s degree holders will earn, on average, an additional $1.4 million. Those with master’s degrees stand to earn about $1.7 million more, while doctoral graduates are projected to earn nearly $2.5 million more over their lifetimes.
The analysis, which encompassed 73,006 degrees conferred by various USG institutions, suggests that these degrees could yield a collective total of around $230 billion in lifetime earnings. Specifically, GSU conferred a total of 5,172 degrees during the fiscal year 2024. As a result, the projected lifetime earnings for Georgia Southern graduates from this cohort are estimated at approximately $12.6 billion, a stark contrast to the projected total of $7 billion for individuals without a degree.
These economic metrics and insights highlight the critical role Georgia Southern University plays in not only providing education to its students but also significantly fueling the regional economy with its employment practices and community engagement.
Contributions to Personal and Local Economies
The data derived from the economic impact and lifetime earnings studies were conducted by Jeffrey M. Humphreys, Ph.D., from the Selig Center for Economic Growth at the University of Georgia. This reflects a comprehensive analysis of the flow of money and resources facilitated by GSU and its graduates.
Background on Georgia Southern University
Founded in 1906, Georgia Southern University has grown to serve over 26,100 students across its three campuses and online, offering approximately 155 different degree programs. The institution’s commitment to education and student success not only shapes the lives of its graduates but also plays a fundamental part in enhancing the economic vitality of Georgia.
Deeper Dive: News & Info About This Topic
- Grice Connect: Georgia Southern Reaches New Economic Impact Record of $1.167 Billion
- Wikipedia: Economic Impact
- WSAV: Gus Economic Impact Reaches $1.167 Billion
- Encyclopedia Britannica: Economics
- Statesboro Herald: Calendar Events
- Google Search: Georgia Southern University
- Grice Connect: University System of Georgia Packs Huge Economic Punch
- Google News: Georgia Southern University Economic Impact
- Statesboro Herald: Cotton Groups Set Georgia Info Meetings About Farm Bill
- Google Scholar: Georgia Southern University Economic Impact
Author: STAFF HERE AUGUSTA WRITER
AUGUSTA STAFF WRITER The AUGUSTA STAFF WRITER represents the experienced team at HEREAugusta.com, your go-to source for actionable local news and information in Augusta, Richmond County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Arts in the Heart Festival, Westobou Festival, and Masters Week. Our coverage extends to key organizations like the Augusta Metro Chamber of Commerce and Greater Augusta Arts Council, plus leading businesses in manufacturing and healthcare that power the local economy such as Textron Specialized Vehicles, Cardinal Health, and Nutrien. As part of the broader HERE network, including HEREAtlanta.com and HERESavannah.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
