From the mountains to the coast, UGA reaches each of the state’s 159 counties through its teaching, research and service. The latest study to quantify the dollar value of these interconnected activities estimates that the university’s economic impact on the state of Georgia is now $6.3 billion per year.
Conducted by UGA economist Jeffrey Dorfman, professor in the College of Agricultural and Environmental Sciences, the study quantified several variables to arrive at a conservative estimate of the university’s economic impact. The economic benefits of the teaching mission were calculated by assessing the increased earnings that UGA graduates receive. The impact of the research mission was assessed by modeling the economic activity generated by federal, foundation and industry grants in fiscal year 2018, as well as revenues from the licensing of university inventions.
“I am proud of the many ways the University of Georgia contributes to the economic development of our home state,” says President Jere W. Morehead. “As the university continues enhancing its learning environment, growing research and innovation, and strengthening partnerships with communities and industries across the state, we can expect our positive impact to expand.”
This brief appeared in the spring 2019 issue of Research Magazine. The original story is available at https://news.uga.edu/universitys-economic-impact-across-state-reaches-6-3-billion/.