Albany State University (ASU) had a $244 million economic impact on the Albany region in 2018, according to a recent study released and commissioned by the University System of Georgia (USG).

“It is imperative that Albany State University and the Albany community have a beneficial relationship,” said ASU President Marion Fedrick. “As an educational institution, ASU creates and supports employment opportunities and provides services that contribute to the economic well-being of Southwest Georgia and beyond. As I’ve said before, the community is critical to the success of ASU. I look forward to growing ASU’s economic impact in the future by increasing our student and faculty population, increasing our academic programs and amplifying the campus community’s involvement in the surrounding community.”

Much of the university’s economic impact is attributed to student spending, personnel services and operating expenses. A breakdown of the dollars showed that the university employed 2,818 people for a total of $107 million in labor income for the region, as described by the Selig Center for Economic Growth at the University of Georgia.

Results of the USG study note the following:

$244 million impact on the regional economy; includes employment and direct and indirect spending

$154 million in valued added (gross regional product)

860 on-campus jobs and 1,958 off-campus jobs that exist due to institution-related spending

The study reviewed data from July 1, 2017 – June 30, 2018. Area counties included in the study were Dougherty, Lee, Worth, Mitchell, Terrell, Sumter, Tift and Crisp.