Georgia State University contributed $3.222 billion to Georgia’s economy in fiscal year 2024, according to the annual economic impact report released by the University System of Georgia (USG). The university also supported 21,013 full- and part-time jobs across the state, underscoring its role as one of the state’s most significant economic engines.

The report details how Georgia State’s spending on personnel, operations and student-driven expenditures ripples outward into the community, strengthening the economy of Atlanta and the state as a whole.

“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 the University System of Georgia, the FY 2024 report shows a total impact of $23.1 billion statewide, supporting nearly 169,000 jobs. Georgia State’s contribution increased by 2.94 percent over fiscal year 2023, and accounts for roughly 9 percent of the total economic output of all USG institutions.

“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 economic impact of $23.1 billion for fiscal year 2024, up from $21.9 billion in fiscal year 2023, includes $15.2 billion in initial spending by students and by USG’s 26 institutions on personnel and operating expenses. The remaining $7.9 billion is the multiplier impact of those funds in a local community.

The study found that USG generated 168,635 full- and part-time jobs across Georgia. The companion study found that bachelor’s graduates from the Class of 2024 will earn, on average, over $1.4 million more than they would without a college degree. Based on work-life earnings estimates for Georgia, the analysis showed that the 73,006 USG graduates from the Class of 2024 can expect combined total lifetime earnings of $230 billion, which is $73 billion more than they could expect to earn had they not finished college or graduate school.

High school graduates who obtain a bachelor’s degree will boost their work-life earnings in Georgia by 82 percent, exceeding the 80 percent increase estimated for the nation.

Both studies were conducted on behalf of USG by the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business.