Georgia Tech Procurement Assistance Center

  • Home
  • About Us
  • Training
    • Class Registration
    • On-demand Training
    • GTPAC COVID-19 Resource Page
    • Cybersecurity Video
    • Veterans Verification Video
    • GTPAC Community
    • Other Training Audio & Video
  • Useful Links
  • Team Directory
    • Albany Counselor
    • Athens Counselor
    • Atlanta Counselors
    • Augusta Counselor
    • Carrollton Counselor
    • Columbus Counselor
    • Gainesville Counselor
    • Savannah Counselor
    • Warner Robins Counselor
  • Directions
    • Athens
    • Atlanta – Training Facility
    • Atlanta – Office
    • Albany
    • Augusta
    • Carrollton
    • Columbus
    • Gainesville
    • Savannah
    • Warner Robins
  • COVID-19
  • New Client Application
  • Contact Us

USG report shows Georgia Tech’s state economic impact exceeds $3 billion

August 29, 2017 By Andrew Smith

The Board of Regents of the University System of Georgia released its fiscal year 2016 state economic impact report August 22, 2017, revealing an overall impact of $16.8 billion.  The Georgia Institute of Technology’s state economic impact was $3.05 billion, up from $2.87 billion in fiscal year 2015.

Conducted by the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business, the report revealed Georgia Tech once again led the state in economic impact. Here are the impact statistics from the top five universities in the USG:

  • Georgia Institute of Technology, $3.05 billion
  • University of Georgia, $2.71 billion
  • Georgia State University, $2.54 billion
  • Kennesaw State University, $1.408 billion
  • Augusta University, $1.403 billion

“Our University System institutions in Georgia are vital to the economies throughout our state, as calculated by the multiplier effect in the new state economic impact report,” said Georgia Tech President G.P. “Bud” Peterson. “In addition, Georgia Tech is honored to be a driving force behind such enterprises as innovation neighborhoods that attract business and industry; research collaborations with other institutions, industry, and government; the building and strengthening of Georgia’s STEM workforce; and commercializing new ideas and inventions.”

Listed as “output impact” in the study, the overall economic impact figure for the system and the individual institutions was calculated by adding the initial spending to the respending, or multiplier effect, for each institution in its host community.

Other findings for the system include an $11.3 billion in value added, $8.2 billion in income and $157,967 full- and part-time jobs. According to the study, the system generated 2.2 off-campus jobs for every job created at a USG institution.

For Georgia Tech, the value added was $2.14 billion, income generated was $1.64 billion, and a total of 24,213 full- and part-time jobs.

Source: http://www.news.gatech.edu/2017/08/22/usg-report-shows-georgia-techs-state-economic-impact-exceeds-3-billion

Filed Under: Georgia Tech News Tagged With: economic development, Georgia Tech, impact

Recent Posts

  • DoD publishes long awaited interim rule on CMMC
  • GSA Region 4 OSDBU hosting small business webinar
  • GTPAC launches COVID-19 resource page
  • GDEcD seeks GA Manufacturers and Distributors that can help with critical health care supply needs related to COVID-19
  • Georgia DOAS to hold 4th Annual Georgia Procurement Conference April 21-23, 2020

Popular Topics

8(a) abuse Army bid protest budget budget cuts certification construction contract awards contracting opportunities cybersecurity DoD DOJ False Claims Act FAR federal contracting federal contracts fraud GAO Georgia Tech government contracting government contract training government trends GSA GSA Schedule GTPAC HUBZone innovation IT Justice Dept. marketing NDAA OMB SBA SDVOSB set-aside small business small business goals spending subcontracting technology VA veteran owned business VOSB wosb

Contracting News

DoD publishes long awaited interim rule on CMMC

Small business subcontracting for cloud computing gets easier

Long awaited changes to WOSB/EDWOSB regulations expected this summer

The CMMC has arrived: DoD publishes version 1.0 of its new cybersecurity framework

GSA keeping ‘on track’ with schedule consolidation

Read More

Contracting Tips

A guide to labor and employment obligations for federal contractors

Who pays for CMMC certification?

Other transaction agreements: Where does an unsuccessful bidder go?

Knowledge is power, if you know how to use it

EAJA provides relief to construction contractor for government’s bad actions

Read More

GTPAC News

GSA Region 4 OSDBU hosting small business webinar

GTPAC launches COVID-19 resource page

GDEcD seeks GA Manufacturers and Distributors that can help with critical health care supply needs related to COVID-19

Georgia DOAS to hold 4th Annual Georgia Procurement Conference April 21-23, 2020

MICC Fort Stewart hosting acquisition forecast open house on Thursday, Feb. 6, 2020

Read More

Georgia Tech News

Dr. Abdallah testifies on U.S. competitiveness, research, STEM pipeline at Congressional hearing

Georgia Tech’s Technology Square Phase III to include George Tower

Student surprises his teacher with Georgia Tech acceptance news

Georgia Tech Applied Research will support DHS information safeguarding effort

$25 million project will advance DNA-based archival data storage

Read More

  • SAM.gov registration is free, and help with SAM is free, too
APTAC RSS Twitter GTPAC - 30th Year of Service

Copyright © 2021 · Georgia Tech - Enterprise Innovation Institute