Packing a punch, financially
A study by the Selig Center for Economic Growth in the Terry College of Business shows UGA continued to be a powerful financial force for the Athens area in fiscal year 2010, pumping more than $2 billion into the local economy, despite the poor economy. The study, which measured the economic impact of all 35 institutions in the University System of Georgia, showed that while UGA spent slightly less on salaries than it did in fiscal year 2009 due to a reduced number of employees, spending on operating expenses and spending by students increased. Overall, UGA spent nearly $632 million in salaries and $367 million in operating expenses from July 1, 2009–June 30, 2010, and UGA students spent an additional $447 million in and around Athens. For every job UGA created or sustained in the last fiscal year, 1.34 off-campus jobs owed their existence to its support, as compared to 1.2 off-campus jobs in the previous fiscal year. Taken as a whole, the University System of Georgia contributed $12.6 billion to the state’s economy and was responsible for 130,738 full- and part-time jobs (or 3.4 percent of all jobs in Georgia) in fiscal year 2010.