The University of Georgia generated a record $7.6 billion for the state’s economy in 2022 through its teaching, research and public service, according to a new study. Growth in the number of degrees conferred at the undergraduate and graduate levels, increases in externally funded research activity, and an expansion of public service and outreach activities all contributed to the $200 million increase in UGA’s economic impact on the state.
“As this latest study highlights, the University of Georgia delivers a tremendous return on public investment, and our value to our home state continues to grow,” said President Jere W. Morehead. “I am proud of the work our university is doing to create opportunities across Georgia and strengthen our state’s economy.”
Among other economic drivers, the study assessed the impact of the university’s education and training programs, spending generated by out-of-state and international students, external funding for research and outreach programs, inventions and discoveries that led to new products and businesses, gifts from out-of-state supporters, and improved business and government practices stemming from university research and outreach programs.
Impact from teaching, research and service
Michael Adjemian, a professor in UGA’s department of agricultural and applied economics, has led the study for the past four years. He emphasized the $7.6 billion figure is a conservative estimate of the university’s economic impact that measures only the easily quantifiable functional impacts of its teaching, research and public service. According to Adjemian’s analysis, UGA’s economic impact increased across these three mission areas in 2022.
To determine the economic activity generated by the university’s teaching activities in the 2021-2022 academic year, the study calculated the increased earnings that degree holders can expect to receive based on their field of study. Two out of every three UGA graduates…
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