GPC's Economic Impact Rose in 201107/10/2012
Contact: Susan Gast
Author: Susan Gast
FOR IMMEDIATE RELEASE
Georgia Perimeter College’s economic impact on its region climbed to almost $713 million in fiscal 2011, according to a newly released report. The 2011 level reflects an increase of more than 3 percent over the economic impact recorded for GPC in fiscal 2010.
The study was produced by the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business and was commissioned by Georgia’s Intellectual Capital Partnership Program. It examines the initial spending by each of the University System of Georgia’s 35 institutions, the spending by each institution’s students and the re-spending – the multiplier effect of the dollars spent again in the region. It also examines each college’s role in generating jobs in its region, not just on campus, but in businesses throughout its communities.
According to the study, Georgia Perimeter College generated 6,762 jobs in 2011, and the growth in Georgia Perimeter College’s overall economic impact outpaced the increase in the college’s initial spending.
The findings of the report serve as a reminder of Georgia Perimeter College’s integral role in the communities it serves, said Rob Watts, interim president of GPC.
“Our mission is to provide access to a high quality, affordable college education,” Watts said. “But in carrying out that mission, we also are a powerful force in the region’s economy.”
Watts said recent spending cuts and a reduction in force at GPC, which were made to balance the college’s budget, have been painful for the Georgia Perimeter College community. The corrections, however, will help to preserve the college’s financial health and maintain its academic mission so it can continue serving the metro Atlanta region, he said.
GPC is the third largest institution in the University System of Georgia, serving nearly 27,000 students on campuses in Clarkston, Decatur, Dunwoody and Newton County, at a center in Alpharetta and through online courses.
The economic impact report, prepared by Dr. Jeffrey M. Humphreys, director of the Selig Center, considered the economic impact of all of the University System of Georgia’s 35 institutions. Together, the institutions’ economic impact on their communities reached $13.2 billion in fiscal 2011, a level that represents a 5 percent increase from the previous year. The study also showed that the university system generated nearly 132,000 jobs in Georgia, meaning that one job out of every 29 in the state exists because of the university system.
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Georgia Perimeter College, the third largest institution of the University System of Georgia, serves approximately 25,000 students through four campuses and several sites in metro Atlanta. For additional information, visit www.gpc.edu.