The University of Georgia has quite the economic impact on the state of Georgia, some $6.3 billion according to the latest research. UGA Professor of Economics Jeffrey Dorfman conducted the study, which covered three main categories.
“The report is designed to let people understand what an economic engine the University of Georgia is for the state and its ecnomy, and we measure by looking at three things, really,” Dorfman says. “One is the value of the human capital for our graduates, so people who get degrees here tend to earn more money than if they hadn’t come here. The second of those pots is research—dollars from the federal government, agencies, foundations, things like that. Finally, we look at our public service outreach program.”
He says UGA reaches every county in the state. Everything from students from each county, extension in each county and statewide research.
Dorfman says the study also focused on outside money coming into the state of Georgia through UGA.
“If we get grants from the federal government, that’s money coming from out of state, or out-of-state students. Students from other states and foreign countries are, in fact, bringing new money into Georgia that gets spent here,” Dorfman says.
The $6.3 billion is up 10 percent over the previous year. Dorfman says that's likely due to the new engineering program and its increase in graduates as well as boosts from the Colleges of Pharmacy and Family Consumer Sciences, likely due to an increase in financial planning programs.
