{"659143":{"#nid":"659143","#data":{"type":"news","title":"Georgia Tech\u2019s Economic Impact Grows to Nearly $4.2 Billion in Fiscal Year 2021","body":[{"value":"\u003Cp\u003EThe University System of Georgia (USG)\u0026nbsp;released its annual report highlighting the significant economic impact that Georgia\u0026rsquo;s higher education institutions\u0026nbsp;had across the state between July 1, 2020, and June 30, 2021. The data calculated by the Selig Center for Economic Growth at the University of Georgia\u0026rsquo;s Terry College of Business includes a breakdown of Georgia Tech\u0026rsquo;s benefit to the state.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThe study shows that the USG contributed a total of $19.3 billion to Georgia\u0026rsquo;s economy during the 2021 fiscal year. Georgia Tech\u0026rsquo;s economic impact is the highest of any USG institution, with nearly $4.2 billion \u0026mdash; a 4.6% increase from FY 2020.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThe report also found that,\u0026nbsp;collectively, the 26 USG institutions generated a labor income impact on their host communities of $8.9 billion and generated an employment impact of 152,629 jobs in FY 2021. Georgia Tech alone generated 9,256 on-campus jobs and 18,849 off-campus jobs.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThis \u0026ldquo;output impact\u0026rdquo; figure collected in the study was calculated by adding the initial spending to re-spending, or the multiplier effect, for each institution in its community. According to the report, this \u0026ldquo;total output impact\u0026rdquo; figure is the largest, most inclusive measure of economic impact.\u003C\/p\u003E\r\n\r\n\u003Cp\u003EIncluded in the initial spending by the institutions are rounds of funding from the Higher Education Emergency Relief Fund \u0026mdash; federal funds allocated by the Coronavirus Response and Relief Supplemental Appropriations Act that provided emergency grants for postsecondary education.\u003C\/p\u003E\r\n\r\n\u003Cp\u003ERead the full economic impact report on\u0026nbsp;\u003Ca href=\u0022https:\/\/www.usg.edu\/assets\/usg\/docs\/news_files\/USG_FY_2021_Economic_Impact.pdf\u0022 target=\u0022_blank\u0022\u003EUSG\u0026rsquo;s website\u003C\/a\u003E.\u003C\/p\u003E\r\n","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cdiv\u003EThe University System of Georgia (USG) releases its annual economic impact report.\u003C\/div\u003E\r\n","format":"limited_html"}],"field_summary_sentence":[{"value":"The University System of Georgia (USG) releases its annual economic impact report."}],"uid":"35798","created_gmt":"2022-06-28 20:37:07","changed_gmt":"2022-06-30 14:14:05","author":"Ayana Isles","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2022-06-28T00:00:00-04:00","iso_date":"2022-06-28T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"657751":{"id":"657751","type":"image","title":"Tech Tower, Spring 2022 (Photo: Jess Hunt-Ralston)","body":null,"created":"1651167022","gmt_created":"2022-04-28 17:30:22","changed":"1680031755","gmt_changed":"2023-03-28 19:29:15","alt":"","file":{"fid":"249294","name":"Tech Tower.jpg","image_path":"\/sites\/default\/files\/images\/Tech%20Tower_0.jpg","image_full_path":"http:\/\/www.tlwarc.hg.gatech.edu\/\/sites\/default\/files\/images\/Tech%20Tower_0.jpg","mime":"image\/jpeg","size":1318275,"path_740":"http:\/\/www.tlwarc.hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/Tech%20Tower_0.jpg?itok=8Niryfmu"}}},"media_ids":["657751"],"groups":[{"id":"1214","name":"News Room"}],"categories":[{"id":"129","name":"Institute and Campus"},{"id":"42901","name":"Community"}],"keywords":[],"core_research_areas":[],"news_room_topics":[{"id":"71871","name":"Campus and Community"}],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003E\u003Ca href=\u0022mailto:aisles3@gatech.edu \u0022\u003EAyana Isles \u003C\/a\u003E\u003C\/p\u003E\r\n\r\n\u003Cp\u003EMedia Relations\u003C\/p\u003E\r\n","format":"limited_html"}],"email":["aisles3@gatech.edu "],"slides":[],"orientation":[],"userdata":""}}}