Report: ASU contributes over $181M to SWGA economy
ALBANY, Ga. (WALB) - Albany State University (ASU) released the result of a study Wednesday that indicates that in fiscal year 2020, ASU contributed $181.9 million to the local economy, supported 2,328 jobs and businesses in eight 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 at The University of Georgia. ASU’s regional impact is part of the University System of Georgia’s (USG) collective statewide impact.
“Albany State University is a driving force in Georgia’s economy, especially in this region as we fulfill our mission of educating diverse student talent who are leading in the fields of health, education, arts, STEM, business and more,” said ASU President Marion Ross Fedrick. “ASU is an essential part of the fabric of the community and the state. We are proud of the economic impact the University makes to the state and beyond.”
The study found every dollar spent directly by USG institutions and their students generated an additional 47 cents for the surrounding region’s economy. While $12.7 billion of the $18.6 billion statewide economic impact was a result of that direct spending, the remaining $5.9 billion was additional spending within local communities sparked by the presence of a USG institution.
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