MGA Records $249 Million Economic Impact In Fiscal 2019

Author: News Bureau
Posted: Friday, October 16, 2020 12:00 AM
Category: Pressroom

Macon, GA

Middle Georgia State University (MGA) had an economic impact of $249 million in fiscal 2019 and accounted for more than 2,600 jobs due to on- and off-campus spending, according to a study released this week by the University System of Georgia.

As a whole, the University System of Georgia (USG) recorded a statewide economic impact of $18.5 billion for fiscal year 2019 and generated 157,770 jobs.

In addition, a companion study predicts that a Class of 2019 graduate of a USG institution is predicted to earn $888,563 more over the course of their career as a result of their degree.

“Middle Georgia State University represents a major public investment in our region,” said Dr. Christopher Blake, MGA president.  “We celebrate stewardship as one of our core values, and this report illustrates that the significant return on that investment benefits not only our students and their families, but also the region and the communities that support us in our mission.”

MGA is one of 26 institutions in the University System of Georgia.  Those institutions “play a critically important role in local economies all across Georgia,” said USG Chancellor Steve Wrigley said. “At the same time, a college degree has never been more essential to success in the workforce and for our state’s economic future. As Georgia’s public college and university system, USG remains committed to improving on the state’s investment in higher education and carrying out our ultimate mission to prepare students for life and work with a college degree.”

The annual economic impact study revealed every dollar spent by USG institutions generates an additional 47 cents for the regional economy.

Of the 2,670 jobs generated by MGA, 31 percent are on its campuses in Macon, Cochran, Dublin, Eastman, and Warner Robins. The remaining 69 percent of the jobs are located within those communities. On average, each on-campus job led to the creation of slightly more than two additional off-campus jobs as a result of spending by MGA. 

The 2019 study also showed $202 million of MGA’s $249 million in total economic impact came from direct spending by the institutions, while $47 million came from additional spending within the communities where the five campuses are located.

The annual study is conducted on behalf of the Board of Regents by Jeffrey M. Humphreys, Ph.D., director of the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business. The current study was released on October 13, 2020.

This year, Humphreys and Alexandra Hill of the Selig Center also conducted a companion study titled “Lifetime Earnings for University System of Georgia Class of 2019.” The Center’s research shows work-life earnings increase substantially with each step up in postsecondary educational attainment, a finding that holds true for both Georgia and the nation as a whole.

Graduates of MGA in in 2019, who will work in Georgia, can expect lifetime earnings of $3.1 billion, of which $1.1 billion (37 percent) can be directly attributed to their degrees. On average, that amounts to an additional $857,381 in work-life earnings per graduate.

Higher education credentials increase the work-life earnings of the median Georgia resident by $183,475 (certificate), $415,570 (associate), and $1,211,615 (bachelor’s degree). Beyond a bachelor’s degree, a master’s degree is worth $211,305 and a professional degree is worth $1,017,155. Finally, a PhD increases work-life earnings by $643,385 over a master’s degree.

Read the full economic impact report here;  the lifetime earnings report can be found here.

Source: University System of Georgia Communications.