UGA economic impact hits new high of $8.1 billion
The University of Georgia achieved a record economic impact of $8.1 billion on the state in 2023, according to a recent study. The study, led by Professor Michael Adjemian, highlighted factors such as alumni growth, a robust research ecosystem, and award-winning outreach programs contributing to this milestone.
Adjemian emphasized that the $8.1 billion figure is a conservative estimate, focusing solely on quantifiable aspects of teaching, research, and service. Notable contributors to UGA's economic impact included education and training programs, spending by international students, and external funding for research.
The study also revealed that UGA surpassed $500 million in research spending for the first time in its history, with a significant impact on the state's economy.
Additionally, public service and outreach programs, including the Archway Partnership, generated $1.2 billion in economic impact. Overall, UGA's combined economic value to Georgia reached $11.2 billion in 2023.