Economic impact of Kennesaw State grows
A newly released study shows that Kennesaw State University’s annual economic impact on its surrounding community is $441 million.
(Jan 19, 2005) — A newly released study shows that Kennesaw State University’s annual economic impact
on its surrounding community is $441 million.
The study‚ which examined the fiscal year 2004 economic impact of all University System of Georgia institutions‚ was conducted by the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business.
In addition to the $441 million in “output impact” generated by the Kennesaw State‚ the study found that KSU is responsible for 4‚287 full− and part−time jobs.
The Intellectual Capital Partnership Program (ICAPP)‚ an initiative of the Board of Regents’ Office of Economic Development‚ commissioned the study by Dr. Jeffrey M. Humphreys‚ director of economic forecasting for the Selig Center.
The “output impact” is a measure of sales in a community. The study calculated spending by each of the system’s 34 institutions on salaries and benefits‚ operating supplies and expenses‚ as well as spending by students who attend a particular institution. The study found that on average‚ for every dollar of initial spending in a community by University System institutions‚ an additional 52 cents was generated for the local economy hosting a college or university.
This is the first year the study did not include the economic impact of construction projects on the University System's campuses. Because of this change‚ some University System institutions may show a decline in overall economic impact‚ despite the fact there may have been a significant increase in enrollment over the time period between the two studies.
Seven institutions in the metro Atlanta area – Kennesaw State University‚ Southern Polytechnic State University‚ Georgia Institute of Technology‚ Georgia State University‚ Clayton College & State University‚ Atlanta Metropolitan College and Georgia Perimeter College – accounted for $2.9 billion of the University System’s $9.7 billion total‚ and 37‚239 jobs.
A complete copy of the report can be accessed at: www.icapp.org/pubs/impact
A leader in innovative teaching and learning, Kennesaw State University offers undergraduate, graduate and doctoral degrees to its more than 41,000 students. With 11 colleges on two metro Atlanta campuses, Kennesaw State is a member of the University System of Georgia and the second-largest university in the state. The university’s vibrant campus culture, diverse population, strong global ties and entrepreneurial spirit draw students from throughout the region and from 126 countries across the globe. Kennesaw State is a Carnegie-designated doctoral research institution (R2), placing it among an elite group of only 6 percent of U.S. colleges and universities with an R1 or R2 status. For more information, visit kennesaw.edu.