ALBANY, Georgia (WALB) – Albany State University (ASU) on Wednesday released the results of a study showing that ASU contributed $ 181.9 million to the local economy in fiscal 2020, and 2,328 jobs and businesses in eight has supported local counties where its students, faculty and staff live, work and shop.
The study was conducted by the Selig Center for Economic Growth at the Terry College of Business, University of Georgia. The regional impact of ASU is part of the collective nationwide impact of the University System of Georgia (USG).
“Albany State University is a driving force in Georgia’s economy, especially in this region, as we fulfill our mission to create diverse student talent who are leaders in health, education, the arts, STEM, business and more,” said ASU- President Marion Ross Fedrick. “ASU is an integral part of the fabric of the community and the state. We are proud of the university’s economic impact on the country and beyond. “
The study found that every dollar spent directly by USG institutions and their students raises an additional 47 cents for the economy of the surrounding region. While $ 12.7 billion of the $ 18.6 billion statewide economic impact was attributable to this direct spending, the remaining $ 5.9 billion was additional spending within local communities created by the presence of a USG -Institution have been triggered.
The full Economic Impact Report and Life Earnings Report are available online on the USG website.
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