{"594806":{"#nid":"594806","#data":{"type":"news","title":"USG Report Shows Georgia Tech\u2019s State Economic Impact Exceeds $3 billion","body":[{"value":"\u003Cp\u003EThe Board of Regents of the University System of Georgia released its fiscal year 2016 state economic impact report August 22, revealing an overall impact of $16.8 billion. The Georgia Institute of Technology\u0026rsquo;s state economic impact was $3.05 billion, up from $2.87 billion in fiscal year 2015.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EConducted by the Selig Center for Economic Growth at the University of Georgia\u0026rsquo;s Terry College of Business, the report revealed Georgia Tech once again led the state in economic impact. Here are the impact statistics from the top five universities in the USG:\u003C\/p\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003EGeorgia Institute of Technology, $3.05 billion\u003C\/li\u003E\r\n\t\u003Cli\u003EUniversity of Georgia, $2.71 billion\u003C\/li\u003E\r\n\t\u003Cli\u003EGeorgia State University, $2.54 billion\u003C\/li\u003E\r\n\t\u003Cli\u003EKennesaw State University, $1.408 billion\u003C\/li\u003E\r\n\t\u003Cli\u003EAugusta University, $1.403 billion\u003C\/li\u003E\r\n\u003C\/ul\u003E\r\n\r\n\u003Cp\u003E\u0026ldquo;Our University System institutions in Georgia are vital to the economies throughout our state, as calculated by the multiplier effect in the new state economic impact report,\u0026rdquo; said Georgia Tech President G.P. \u0026ldquo;Bud\u0026rdquo; Peterson.\u0026nbsp;\u0026ldquo;In addition, Georgia Tech is honored to be a driving force behind such enterprises as innovation neighborhoods that attract business and industry; research collaborations with other institutions, industry, and government; the building and strengthening of Georgia\u0026rsquo;s STEM workforce; and commercializing new ideas and inventions.\u0026rdquo;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EListed as \u0026ldquo;output impact\u0026rdquo; in the study, the overall economic impact figure for the system and the individual institutions was calculated by adding the initial spending to the respending, or multiplier effect, for each institution in its host community.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EOther findings for the system include an $11.3 billion in value added, $8.2 billion in income and $157,967 full- and part-time jobs. According to the study, the system generated 2.2 off-campus jobs for every job created at a USG institution.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EFor Georgia Tech, the value added was $2.14 billion, income generated was $1.64 billion, and a total of 24,213 full- and part-time jobs.\u003C\/p\u003E\r\n","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cp\u003EOf the University System of Georgia\u0026#39;s $16.8 billion economic impact on the state, Georgia Tech contributes more than $3 billion\u003C\/p\u003E\r\n","format":"limited_html"}],"field_summary_sentence":[{"value":"Georgia Tech\u0027s state economic impact tops $3 billion"}],"uid":"28797","created_gmt":"2017-08-22 21:10:26","changed_gmt":"2017-08-22 21:27:16","author":"Lance Wallace","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2017-08-22T00:00:00-04:00","iso_date":"2017-08-22T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"365201":{"id":"365201","type":"image","title":"Tech Tower close up","body":null,"created":"1449245805","gmt_created":"2015-12-04 16:16:45","changed":"1475895100","gmt_changed":"2016-10-08 02:51:40","alt":"Tech Tower close up","file":{"fid":"201663","name":"08c1004-p4-066_0.jpg","image_path":"\/sites\/default\/files\/images\/08c1004-p4-066_0_0.jpg","image_full_path":"http:\/\/www.tlwarc.hg.gatech.edu\/\/sites\/default\/files\/images\/08c1004-p4-066_0_0.jpg","mime":"image\/jpeg","size":833349,"path_740":"http:\/\/www.tlwarc.hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/08c1004-p4-066_0_0.jpg?itok=nrpGz199"}},"537831":{"id":"537831","type":"image","title":"Tech Square","body":null,"created":"1464282000","gmt_created":"2016-05-26 17:00:00","changed":"1520359284","gmt_changed":"2018-03-06 18:01:24","alt":"","file":{"fid":"88897","name":"technology-square.jpeg","image_path":"\/sites\/default\/files\/images\/technology-square.jpeg","image_full_path":"http:\/\/www.tlwarc.hg.gatech.edu\/\/sites\/default\/files\/images\/technology-square.jpeg","mime":"image\/jpeg","size":1995590,"path_740":"http:\/\/www.tlwarc.hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/technology-square.jpeg?itok=dhDm9HFq"}}},"media_ids":["365201","537831"],"related_links":[{"url":"http:\/\/www.usg.edu\/news\/release\/university_systems_economic_impact_on_georgia_more_than_16.8_billion","title":"USG\u2019s Economic Impact on Georgia Totals $16.8 billion"},{"url":"http:\/\/www.news.gatech.edu\/2016\/05\/10\/usg-releases-results-system-wide-economic-impact-study","title":"2015 Report"}],"groups":[{"id":"1214","name":"News Room"}],"categories":[{"id":"129","name":"Institute and Campus"},{"id":"131","name":"Economic Development and Policy"}],"keywords":[{"id":"726","name":"University System of Georgia"},{"id":"728","name":"Board of Regents"},{"id":"1033","name":"Economic Impact"},{"id":"175273","name":"2016 economic impact"}],"core_research_areas":[],"news_room_topics":[{"id":"106361","name":"Business and Economic Development"}],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003Elance.wallace@comm.gatech.edu\u003C\/p\u003E\r\n","format":"limited_html"}],"email":["lance.wallace@comm.gatech.edu"],"slides":[],"orientation":[],"userdata":""}}}