Georgia State University contributed $3.222 billion to Georgia’s economy in fiscal year 2024, according to a report from the University System of Georgia (USG). The university also supported 21,013 full- and part-time jobs throughout the state.
The annual economic impact report highlights how spending by Georgia State on personnel, operations, and student-related expenses has a broad effect on both Atlanta and the wider state economy.
“Georgia State’s unique location in the heart of Atlanta allows us to serve as a hub of innovation and a catalyst for opportunity,” said Georgia State President M. Brian Blake. “We ensure that students from every background can achieve success, so that means our economic impact also represents generational impact — we transform lives, strengthen families and shape the future of our city and our state.”
Across all USG institutions, the fiscal year 2024 report shows a statewide economic impact of $23.1 billion, supporting nearly 169,000 jobs. Georgia State’s contribution rose by 2.94 percent over fiscal year 2023 and makes up about 9 percent of USG’s total economic output.
“I see the investment we make in producing knowledge and inventions at Georgia State as a pre-payment for future economic growth and job creation,” said Donald Hamelberg, vice president for Research and Economic Development. “Our work today drives innovation, attracts businesses, creates jobs and builds a skilled workforce, all of which deliver long-term benefits for the entire region.”
The total USG economic impact includes $15.2 billion in initial spending by students and its 26 institutions on personnel and operating expenses; an additional $7.9 billion comes from multiplier effects within local communities.
The study found that USG generated more than 168,000 jobs across Georgia. Another analysis showed that bachelor’s graduates from the Class of 2024 will earn on average over $1.4 million more during their careers than those without a college degree. For the class as a whole—73,006 graduates—their combined lifetime earnings are expected to reach $230 billion, which is $73 billion higher than if they had not completed college or graduate school.
In Georgia specifically, high school graduates who obtain a bachelor’s degree can expect an 82 percent increase in work-life earnings compared to those with only a high school diploma; this is higher than the national estimate of an 80 percent increase.
Both studies were conducted for USG by the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business.
