Intellectual capital financial reporting
SAVANNAH — An annual study of the economic impacts of University System of Georgia (USG) institutions confirms that Savannah State University (SSU) continues to be a major force in the local economy, pumping approximately $139 million into the Savannah metropolitan area during fiscal year 2011. The study, conducted by the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business, was released today.
The report updates similar studies conducted on behalf of the Intellectual Capital Partnership Program (ICAPP), an initiative of the USG Board of Regents’ Office of Economic Development. The $139 million output impact represents an $11 million increase from the FY 2010 report, due in part to growing student enrollment and higher student spending.
In addition to the $139 million impact generated by Savannah State during FY 2011, more than 1, 460 full- and part-time jobs are attributed to institutional spending. Of those, approximately 980 are off-campus positions.
The report, which quantifies the economic benefits SSU conveys to Chatham, Effingham, Bryan, Liberty and Bulloch counties, also shows that $117 million of the $139 million in total economic impact was due to initial spending by Savannah State for salaries and fringe benefits; operating supplies and expenses, and other budgeted expenditures; as well as spending by students, which increased by approximately $4 million from FY 2010 to FY 2011.
Source: Tigers Roar
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