ALBANY, GA – Albany State University (ASU) had a $250 million economic impact on the Albany region in 2017, according to a December 2018 study released and commissioned by the University System of Georgia.
According to a press released from the university, the study illustrates ASU’s commitment to empowering the Southwest Georgia region, University officials said. Much of the university’s economic impact is attributed to student spending, personnel services and operating expenses.
“Albany State University is vital to the economic development of the Albany area and the region,” said ASU President Marion Fedrick. “Higher education serves the overall community by promoting knowledge and preparing learners to be skilled professionals. In addition to providing and education, ASU creates and supports employment opportunities and provides services that enrich Southwest Georgia and beyond.”
A breakdown of the dollars showed that the University employed 2,844 people for a total of $109 million in labor income for the region, as described by the Selig Center for Economic Growth at the University of Georgia.
Results of the USG study note the following:
- $250 million impact on the regional economy; includes employment and direct and indirect spending
- $158 million in valued added (gross regional product)
- 822 on-campus jobs and 2,022 off-campus jobs that exist due to institution-related spending
The study reviewed data from July 1, 2016 – June 30, 2017. Area counties included in the study were Dougherty, Lee, Worth, Mitchell, Terrell, Sumter, Tift and Crisp.
The Selig study indicated that the USG’s total economic impact on the state of Georgia fiscal year 2017 was $16.8 billion. The complete economic impact study is available on the USG website.
About Albany State University
Albany State University, a proud member institution of the University System of Georgia, elevates its community and region by offering a broad array of graduate, baccalaureate, associate, and certificate programs at its main campuses in Albany as well as at strategically-placed branch sites and online. Committed to excellence in teaching and learning, the University prepares students to be effective contributors to a globally diverse society, where knowledge and technology create opportunities for personal and professional success. ASU respects and builds on the historical roots of its institutional predecessors with its commitment to access and a strong liberal arts heritage that respects diversity in all its forms and gives all students the foundation they need to succeed. Through creative scholarship, research, and public service, the University’s faculty, staff, students, and administrators form strategic alliances internally and externally to promote community and economic development, resulting in an improved quality of life for the citizens of southwest Georgia and beyond. For more information, please visit www.asurams.edu.