Georgia Southern University has reached a new milestone in its economic impact, according to recent data from the University System of Georgia (USG). The university’s annual economic impact for fiscal year 2024 was recorded at $1.167 billion, marking a 1.9% increase over the previous year.
The USG’s Economic Impact report also showed that from July 1, 2023, to June 30, 2024, the entire system contributed $23.1 billion to Georgia’s economy. Georgia Southern President Kyle Marrero said, “Georgia Southern’s record economic impact across the region reflects the extraordinary dedication of our faculty and staff on all three campuses to ensuring we continue to meet the needs of our students and our region today and into the future. We remain steadfast in our goals of graduating career-ready students, advancing the economic development of the region and elevating our public impact research enterprise.”
The report identified 3,096 jobs on Georgia Southern’s campuses in Statesboro, Savannah and Hinesville. Institution-related spending supported an additional 6,627 jobs off-campus, resulting in a total of 9,723 jobs linked to Georgia Southern during fiscal year 2024. Student spending in the region totaled nearly $443 million for the same period.
Another study by USG highlighted that bachelor’s degree graduates from Georgia Southern’s class of 2024 are expected to earn more than $1.4 million above those without a college degree throughout their lifetimes. Across all USG institutions, graduates who received one of the system’s 73,006 degrees can expect combined lifetime earnings totaling $230 billion.
USG Chancellor Sonny Perdue stated: “A degree from one of USG’s 26 public colleges and universities is a million-dollar deal for graduates and a billion-dollar boost for Georgia. Students see real returns through higher earnings and better opportunities. Meanwhile, our institutions power Georgia’s economy and help local communities thrive.”
The analysis found that high school graduates in Georgia who earn a bachelor’s degree will increase their state work-life earnings by approximately 82%, slightly higher than the national estimate.
In fiscal year 2024, Georgia Southern conferred 5,172 degrees. These graduates are projected to contribute combined lifetime earnings of $16.54 billion within Georgia alone. For U.S.-wide figures among bachelor’s degree recipients from this class at Georgia Southern, collective lifetime earnings are estimated at $12.6 billion with a college degree compared to $7 billion without.
Both studies were conducted by Jeffrey M. Humphreys, Ph.D., director of the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business.
