Study reveals Columbus State’s FY21 economic impact grew to $283 million
June 27, 2022
A recent study commissioned by the University System of Georgia and released on June 27 estimates the regional economic impact of Columbus State University’s institutional spending as $283.2 million for Fiscal Year 2021. This represents a 3.9% increase over the university’s FY20 regional economic impact.
The annual economic impact study revealed every institutional dollar spent by Columbus State University generates an additional 22 cents for the regional economy—a 4.8% increase over Fiscal Year 2020.
“USG institutions and the system as a whole are key contributors to our state and are an economic engine for communities in every region of Georgia,” USG Chancellor Sonny Perdue said. “That economic impact continues to climb, and we are grateful to Governor Brian Kemp and the General Assembly for their support of the university system and public higher education as we focus on increasing prosperity for the state and all Georgians.”
CSU’s regional impact is part of the USG’s collective statewide impact of $19.3 billion total economic impact for FY21, which spanned July 1, 2020, through June 30, 2021. That is up from $18.6 billion in FY20 and included $13.1 billion in initial spending by students and by USG’s 26 public colleges and universities on personnel and operating expenses. The remaining $6.2 billion is the multiplier impact of those funds in a local community.
Included in the initial spending by the institutions are rounds of funding from the Higher Education Emergency Relief Fund (HEERF), which are federal funds allocated by the Coronavirus Response and Relief Supplemental Appropriations Act that provided emergency grants for postsecondary education.
Of the 152,629 full- and part-time jobs generated by USG institutions, approximately 33% of the positions are on-campus jobs and 67% are off-campus. The study found that for each job created by a USG institution on its campus, two additional jobs are created in the local community.
Of those, Columbus State generated 2,711 jobs—34% of which were on campus, while the remaining 66% were off-campus. On average, each on-campus CSU job led to the creation of two additional off-campus jobs as a result of spending by the institution.
“Columbus State University has been woven into the fabric of the Chattahoochee Valley for more than 60 years,” said Dr. Rocky Kettering, CFRE, CSU’s vice president for institutional advancement. “That is evidenced by the university’s thriving contributions to economic and workforce development, cultural and educational tourism, and overall quality of life. As pandemic-related challenges during the past couple of years have tasked us all to do our part, we at Columbus State are encouraged by the value we continue to bring to the region’s infrastructure as outlined in this report.”
The annual study is conducted on behalf of the USG Board of Regents by Dr. Jeffrey M. Humphreys, director of the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business. The full economic impact report is available on USG’s website.