How much does the area served by Southern Crescent Technical College benefit economically from spending that is either directly or indirectly related to the college?
According to Dr. Jeffrey M. Humphreys, director of the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business, it adds up to $71,997,872.
The economic impact has just been released in a new report from Dr. Humphreys that details his analysis of the system’s economic data for the 2012 fiscal year.
His study also found that the technical colleges’ spending results in close to 15,000 public and private sector jobs. Humphreys reported that for each job created on a TCSG college campus, one off-campus job exists because of college-related expenditures. One in every 264 nonfarm jobs in Georgia, he said, occurs because of spending associated with a TCSG college.
“The fundamental finding is that each of the TCSG colleges, including Southern Crescent Technical College, creates substantial economic impacts in terms of output, value added, labor income, and employment. These economic impacts demonstrate that continued emphasis on technical colleges as an enduring pillar of the regional economy translates into jobs, higher incomes, and greater production of goods and services for local households and businesses,” said Humphreys.
The TCSG commissioned Humphreys to calculate the importance that spending connected to the state’s technical colleges has for their service delivery areas, which range in size from two to eleven counties. Southern Crescent Technical College serves Butts, Fayette, Henry, Jasper, Lamar, Pike, Spalding, Taylor, and Upson counties. Several categories of college expenditures were reviewed for the study, including personnel salaries and fringe benefits, college operations, capital construction projects, and student spending, to name a few.
The result, put in the context of the taxpayer investment, indicated that the $13,378,912 state appropriation for Southern Crescent Technical College in 2012 supported the enrollment of 10,597 students, generated $71,997,872 in local spending, and helped to sustain almost 881 college-related jobs.
“As you can see from this study, Southern Crescent Technical College has a significant and lasting impact on the communities we serve. Not only are we providing the trained workforce needed to sustain business and industry in our local service area, but the mere existence of the college in the community is an economic stimulus,” stated, Southern Crescent Technical College President Dr. Randall Peters.
Statewide, the $315 million state appropriation for the TCSG in 2012 helped to train almost 153,000 technical college students, contributed to $1.2 billion in direct and indirect spending in communities throughout Georgia, and was a factor in almost 15,000 public and private sector jobs.
The full report, The Economic Impact of Technical College System of Georgia Institutions on their Service Delivery Area Economies in FY 2012, is available online at https://tcsg.edu/download/TCSG_Impact_2012_Economic_Activity_1.2014.pdf