Fort Valley State, Albany State and Savannah State have a $584 million combined economic impact on Georgia
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Posted By: S. Moore on August 22, 2023 Fort Valley State, Albany State, and Savannah State have a combined $584 million impact on the state of Georgia in the 2022 Fiscal Year, per a study by the University System of Georgia that was released in June. The number was calculated by combining the individual economic impacts of the three state HBCUs based on university-related expenditures such as:
As a factor of the above expenditures, a university's impact on the community it's housed in causes:
By The Numbers Below are the individual numbers for each institution's economic impact. The economic impact is calculated by the number in the “Output Impact” column. In total, the “output impact” for the three institutions combined is approximately a $584,479,232 million economic impact. Read the full study by the University System of Georgia to see the full breakdown and methodology. ALBANY STATE UNIVERSITY Initial Spending $235,653,684 Output Impact $260,389,529 Value Added Impact $165,760,512 Labor Income Impact $110,953,786 Employment Impact 2,588 jobs FORT VALLEY UNIVERSITY Initial Spending $144,364,574 Output Impact $163,124,086 Value Added Impact $105,620,059 Labor Income Impact $74,893,753 Employment Impact 1,653 jobs SAVANNAH STATE UNIVERSITY Initial Spending $141,043,644 Output Impact $160,965,617 Value Added Impact $108,345,077 Labor Income Impact $73,415,740 Employment Impact 1,458 jobs SOURCE Clutch Points If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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