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UGA’s Economic Impact on the Rise
Published on February 10, 2025
The University of Georgia (UGA) has firmly established itself as a linchpin in boosting the state’s economy. For fiscal year 2024, UGA’s contributions totalled a staggering $8.4 billion. This marks an impressive increase of $300 million compared to the previous year and sets a new benchmark for the state’s premier academic institution.
Uplifting Georgia: A Commitment Through Education
The economic surge was largely powered by several factors. Firstly, the number of degrees conferred at both graduate and undergraduate levels saw exponential growth. In the past year alone, UGA conferred over 11,700 degrees, which, in turn, elevated the earning potential of its graduates significantly. Notably, two-thirds of UGA graduates choose to remain in Georgia, enhancing the state’s economic landscape through increased tax contributions, as reported by the UGA Alumni Association.
Research and Innovation: Catalysts for Prosperity
Another pivotal element of UGA’s economic impact emerges from its research endeavours. External funding for UGA’s research initiatives swelled, drawing substantial grants from federal agencies and foundations based out-of-state. According to an economic impact model called IMPLAN, for every dollar from these sources, $2.13 was generated in economic value within Georgia. Moreover, the practical application of research has led to over 60 new products entering the market. These developments not only stimulate UGA’s economic impact but benefit various communities across the state.
Community and Business Support
UGA’s public service and outreach programs offered crucial support to businesses and individuals. These programs provide substantial training and continuing education for Georgia’s workforce, fostering new businesses and improving operational efficiencies within the public and private sectors. UGA’s Cooperative Extension, among other units, played a vital role in these efforts, underlining the university’s ongoing commitment to serve every corner of Georgia.
Sports and Spectators: A Dynamic Duo
UGA’s athletic programs contributed notably to its economic impact. Sporting events attracted 67,311 spectators from out-of-state who spent considerably on lodging, dining, and other essentials during their visits. This influx of visitors underscores the role of UGA sports in driving local economic activity.
Moving Forward: A Proud Legacy
The study, spearheaded by UGA economist Michael Adjemian, further analysed spending by prospective students and families visiting the campus. No stone was left unturned, as the study examined how these expenditures also fueled Georgia’s economy. UGA President Jere W. Morehead highlighted the pride shared by faculty, students, staff, and alumni in strengthening Georgia’s economic vitality through their combined efforts in teaching, research, and service.
A Testament to Collaboration
S. Jack Hu, UGA’s senior vice president for academic affairs and provost, aptly summarised the sentiment by expressing gratitude for the state’s continuous support. As both a land-grant and sea-grant institution, UGA remains dedicated to serving its community and supporting the broader economy through advancement in education and innovation. For a detailed examination of UGA’s contributions and initiatives, visit Morning AgClips.
–Mike Wooten, University of Georgia
