Clayton State University generated more than $275.9 million in local economic impact in the surrounding region for fiscal year 2016, according to a report released by the University System of Georgia (USG).
The figure is an increase of more than $2 million from the previous fiscal year when Clayton State contributed $273.7 million to the local economy.
We are certainly delighted by the significant role we play in the economic activity of our region. But we believe that this is just a down payment on the long term economic contributions our students and graduates will make in a more educated, and thus more economically prosperous, Georgia future,” said Dr. Tim Hynes, president of Clayton State University.
Clayton state is ranked fourth out of ten in terms of largest economic impact among institutions classified as “State Universities.”
The largest part of Clayton State’s “output impact” is student spending. The report finds that spending among Clayton State’s students reached $135.5 million for the fiscal year, which researchers indicate is inclusive of daily living expenses ranging from groceries to healthcare, to books and eating out.
Clayton State created 2,607 local jobs, including 803 on-campus and 1,804 that exist off-campus due to institution-related spending.
As Atlanta’s southern region continues to grow in population size and economically, Clayton State is preparing the necessary workforce in industries such as healthcare, business, technology, suppy chain and film. The $9.5 billion film industry, for example, has heavily invested in jobs and infrastructure. Clayton State is also in the same county as the largest passenger airport in the world.
This has created tremendous opportunities for the University and its students.
Overall, the 28-member institution USG generated an economic impact of $16.8 billion during fiscal year 2016, up 8 percent from the previous year. Furthermore, full-time and part-time employment accounted for 157,967 jobs generated by the system, with 32 percent of those being on-campus positions and the other 68 percent in either public or private sectors.
The economic impact 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.
Those benefits reflect several important 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.
Clayton State University currently enrolls approximately 7,000 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 [instructional] studio in Jonesboro (Clayton County).
To calculate the economic impact for FY 2016, analyzed data collected between July 1, 2015 and June 30, 2016.
The full study with data for all USG institutions is available at https://www.usg.edu/assets/usg/docs/USG_Impact_2016.pdf.