ALBANY, GA – Albany State University (ASU) had a $244 million economic impact on the Albany region in 2018, according to a recent study released and commissioned by the University System of Georgia (USG).
“It is imperative that Albany State University and the Albany community have a beneficial relationship,” said Marion Fedrick, ASU President. “As an educational institution, ASU creates and supports employment opportunities and provides services that contribute to the economic well-being of Southwest Georgia and beyond. As I’ve said before, the community is critical to the success of ASU. I look forward to growing ASU’s economic impact in the future by increasing our student and faculty population, increasing our academic programs and amplifying the campus community’s involvement in the surrounding community.”
Much of the university’s economic impact is attributed to student spending, personnel services and operating expenses. A breakdown of the dollars showed that the university employed 2,818 people for a total of $107 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:
- $244 million impact on the regional economy; includes employment and direct and indirect spending
- $154 million in valued added (gross regional product)
- 860 one-campus jobs and 1,958 off-campus jobs that exist due to institution-related spending
The study reviewed data from July 1, 2017 – June 30, 2018. 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 share of Georgia for fiscal year 2018 was $17.7 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, visit www.asurams.edu.