Clayton State’s Economic Impact More Than $273 Million for FY15
Clayton State University contributed $273.7 million to the economic impact on its surrounding region in FY15 according to a report released by the University System of Georgia (USG). Clayton State’s total impact on the Atlanta metropolitan statistical area in 2014 was $214.5 million, which means the University’s impact increased by 6 percent over last year. This ranks the University second among its category of “State Universities.” The following “State Universities” had the largest economic impact, according to the study:
1. University of North Georgia, $496.9 million
2. Clayton State University, $273.7 million
3. Southern Polytechnic University, $269.1 million (has since consolidated with Kennesaw State University)
4. Columbus State University, $263.5 million
5. Georgia College and State University, $235.8 million
The annual study was conducted on behalf of the Board of Regents by the Selig Center for Economic Growth at the Terry College of Business of The University of Georgia. The report quantifies the economic benefits that the University System of Georgia’s institutions convey to the communities in which they are located.
The total economic impact of all 31 USG institutions on their host communities was $15.5 billion. This is an increase of 9 percent from FY 2014, which was $14.2 billion.
The benefits are estimated for several important categories of college/university-related expenditures: spending by the institutions themselves for salaries and fringe benefits, operating supplies and expenses, and other budgeted expenditures; spending by the students who attend the institutions; and spending by the institutions for capital projects (construction). The total economic impact includes the impact of the initial round of spending and the secondary, or indirect and induced spending—or the multiplier effect—that occurs when the initial expenditures are re-spent.
The largest part of Clayton State’s “output impact” is student spending. Students accounted for more $134 million in impact. Clayton State is also credited with impacting more than 2,500 local jobs, including almost 750 on campus and more than 1,800 jobs that exist off-campus due to institution-related spending. The USG overall generated more than 150,000 jobs of which 48,785 are located on campuses.
“This is one clear and important—and quantifiable—contribution we proudly make to the South Metro Atlanta economy. We are delighted to see that contribution continue to grow.” President Tim J. Hynes said. “These contributions are significant, even without including the everyday contributions faculty, staff, and students make as citizen participants in surrounding communities, fulfilling our responsibilities as an Engaged University.”
Clayton State University currently enrolls 7,012 students. The University’s main campus is located in Morrow, Georgia in Clayton County. Clayton State also has instructional sites in Peachtree City (Fayette County) and McDonough (Henry County), as well as a 10,000 square-foot film production studio in Jonesboro (Clayton County).
To calculate the economic impact for FY 2015, analyzed data collected between July 1, 2014 and June 30, 2015.
The full study with data for all USG institutions is available at http://www.usg.edu/assets/economic_development/documents/USG_Impact_20152.pdf.