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Gordon’s economic impact soars

The economic contribution that Gordon College makes to the regional economy continues to grow, increasing $18 million during Fiscal Year 2011 to $154 million, according to a report released today by the University System of Georgia. Spending by Gordon College students also increased during FY 11. Up from $81 million in FY10, student spending accounted for $90 million of the total $154 million contributed to the area economy. The Selig Center for Economic Growth at the University of Georgia’s Terry College of Business analyzed financial and enrollment data from July 1, 2010 through June 30, 2011, to estimate the economic impact that each of Georgia’s 35 public colleges and universities makes to the economy of the area where it is located. Reports show that Gordon’s economic impact on the region has increased steadily since FY07 when it topped $92 million. In FY08 the impact totaled $102 million; FY09, $109 million and FY10 $136 million. ’These numbers make it clear that Gordon College continues to be an economic powerhouse in the region while providing a quality education to students who also have a major impact on the region’s economy,’ said Max Burns, Gordon College president. The report also showed that Gordon College provided 1,504 jobs during FY11, an increase of 193 jobs over FY10. Of those jobs, 353 were on campus while 1,151 of those jobs existed off-campus due to institution-related spending. System wide the study shows that between FY07 and FY11, total spending by all 35 institutions and their students rose by 30 percent, and the number of jobs that owe their existence to that spending rose by 24 percent ‘“ from 106,267 jobs to 131,990 jobs. ’That job growth is quite impressive given that the state’s total employment declined by 7 percent during this period,’ said study author Jeffrey M. Humphreys, director of the University of Georgia’s Selig Center for Economic Growth in the Terry College of Business. ‘Without exception, each college or university is an economic lynchpin of its host community.’ The study, ‘The Economic Impact of University System of Georgia Institutions on their Regional Economies in FY 2011’ may be found http://www.usg.edu/economic_development/documents/PS-USGImpact2011.pdf

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