Savannah State University (SSU) contributed $164.4 million to Georgia’s economy during fiscal year 2024, according to a new study conducted by the Selig Center for Economic Growth at the University of Georgia. The findings highlight the institution’s growing role in regional economic development, reflecting a 9.3% increase in economic impact compared to the previous fiscal year.\n\nThe analysis evaluates the combined influence of institutional expenditures, student spending, and capital investments across all 26 public universities in the University System of Georgia (USG). At SSU, these financial flows support local businesses and services through payroll disbursements, operational costs, student consumption, and procurement activities.\n\nPresident Dr. Jermaine Whirl emphasized the broader significance of the university’s presence, noting that each on-campus job sustains two additional positions off-campus in sectors such as retail, housing, transportation, and healthcare. “This report affirms what we already know — that Savannah State is not only educating future leaders, but also serving as a powerful economic engine for the region,” he stated.\n\nThe $164.4 million impact is distributed across several key areas: $65.6 million in student spending, $60.8 million in personnel compensation, and $37.8 million in operational expenses. These figures illustrate how university-related financial activity extends beyond campus boundaries, stimulating economic circulation in surrounding communities.\n\nA notable aspect of the study is the economic multiplier effect: every dollar spent by a USG institution generates an additional 52 cents in local economic activity. This ripple effect strengthens small businesses and service providers, reinforcing the interconnectedness between higher education institutions and regional prosperity.\n\nAlthough specific employment numbers for SSU were not disclosed, the statewide data indicates that every million dollars spent by the university system supports approximately 11 jobs, both directly and indirectly. Beyond immediate financial contributions, SSU enhances workforce readiness through academic programs, research initiatives, and community engagement, contributing to long-term economic resilience and innovation.\n\nThe report underscores the institution’s commitment to regional advancement under President Whirl’s leadership, emphasizing partnerships, student involvement, and educational offerings that align with local economic needs.\n— news from WTOC\n\n— News Original —\nSavannah State powers $164M boost to Georgia’s economy, new report finds\n\nSAVANNAH, Ga. (WTOC) – A new report proves that Savannah State University (SSU) continues to play a vital role in the economic development of the region. n nAccording to research released by the Selig Center for Economic Growth at the University of Georgia, Savannah State contributed $164.4 million to Georgia’s economy in fiscal year 2024. n nThe report measures the economic contributions of the University System of Georgia’s (USG) 26 public colleges and universities, showing that SSU’s economic impact increased by 9.3% compared to FY 2023. n nThe study highlights the combined effects of institutional spending, student spending, and capital investment. n nAt SSU, these dollars flow directly into the regional economy through salaries and wages, operating expenses, student expenditures, and local purchasing. n n“For every job on campus, two more are supported off-campus through goods and services related to the university,” said SSU President Dr. Jermaine Whirl. “This report affirms what we already know — that Savannah State is not only educating future leaders, but also serving as a powerful economic engine for the region.” n nWhy It Matters: n nSSU’s $164.4 million impact represents a critical contribution to the Southeast Georgia region, including the counties of Chatham, Effingham, Bryan, Liberty and Bulloch. SSU’ combined effects of spending include: n n· $65.6 million in student spending n n· $60.8 million in personnel services n n· $37.8 million in operating expenses n nThe report also shows the power of the economic multiplier: every dollar spent by a USG institution translates into an additional 52 cents in economic activity within the surrounding community. n nThis means university-related spending doesn’t just stay on campus—it circulates through restaurants, housing, transportation services, local retail, and healthcare providers. n nHow The Funding Supports Georgia: n nSavannah State University (SSU) contributes to the economy by supporting jobs and generating revenue. n nWhile specific employment numbers for SSU were not given, the report notes that across Georgia, every million dollars spent by the university system supports about 11 jobs, both on campus and in surrounding communities. n nSSU also impacts the region through cultural programs, research, and public service, which foster community engagement and innovation. Beyond immediate economic activity, degrees from SSU and other University System of Georgia institutions raise lifetime earnings, strengthen the workforce, and support high-skill industries. n nThe report emphasizes SSU’s ongoing role in regional development, guided by President Dr. Jermaine Whirl, through its academic offerings, student involvement, and local partnerships. n nTo see the full report click here.
