KSU’s economic impact increased by 6.7 percent in Fiscal Year 2011. The state’s third largest university helped put $853.6 million into the local economy and generated 8,324 jobs, including 5,883 jobs off-campus.
Though smaller in size, SPSU’s economic impact rose by 3.3 percent to $198.6 million. The university’s presence in Marietta generated 1,826 jobs, including 1,361 off-campus.
In total, both schools’ local economic impact was $1.1 billion, according to the study. The FY 2010 total was $992.5 million.
The economic impact study, which was conducted by the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business, collected data between July 1, 2010 and June 30, 2011.
Overall, the economic impact of University System of Georgia’s 35 institutions on the state economy in FY 2011 was $13.2 billion. The study indicated that Georgia’s public higher education system generated 131,990 full- and part-time jobs — 3.4 percent, or one in 29, of all jobs in the state.
Projected fall enrollment at KSU totals roughly 24,100 students.
“Even as the national economy continues to struggle, it’s good to know Kennesaw State’s impact on the local economy continues to expand,” KSU President Dr. Dan Papp said in a statement. “As we prepare to celebrate our first half century, we take great pride in the role KSU plays in the region’s economic success.”
Just over 6,100 students are expected to attend SPSU this fall.
“SPSU was originally founded at the request of business and industry, and our students, faculty, staff and graduates continue to provide a great return on that investment,” SPSU President Dr. Lisa Rossbacher said. “All of us are gratified to see that the university’s economic impact continues to have a strong positive effect on the region and the state.”
The numbers from the report were calculated based on sales, gross regional product, income, and full- and part-time jobs. The study does not account for all of the short-term impacts of the 35 institutions on their host communities.
The fundamental finding of the study is that each of the 35 institutions created substantial economic impacts in terms of output, added value, labor income and employment, wrote study author Dr. Jeffrey Humphreys, the director of the Selig Center.
“These economic impacts demonstrate that continued emphasis on higher education as an enduring pillar of the regional economy translates into jobs, higher incomes and greater production of goods and services for local households and businesses,” Humphreys wrote.