Report: Georgia Gwinnett College Put $416M Into Economy

LAWRENCEVILLE, GA -- Georgia Gwinnett College contributed more than $416 million to the local economy during the past fiscal year, according to a new study.

The study, conducted annually by the Selig Center for Economic Growth in the University of Georgia's Terry College of Business, aims to measure the economic impact of the state's colleges and universities.

"The college’s presence creates a multiplying effect as dollars are spent and re-spent in the Gwinnett area economy," said Stas Preczewski, GGC's president. "In addition, for every job created on campus, there are more than three jobs created in the community."

According to the study, Georgia Gwinnett had the second-highest economic impact of any college in the state and surpassed most state universities in total impact.

The college, in Lawrenceville, is responsible for 4,208 jobs, the study says. Of those, 2,894 are off-campus jobs that exist because of spending related to the college.

To calculate economic impact, the Selig Center analyzed data collected between July 1, 2014, and June 30, 2015.

But the study doesn't measure everything, Preczewski said in a news release.

"As of May 12, the college will surpass 3,600 graduates," Preczewski said. "GGC’s affordability, access and attention to student success made a college education possible for many of them.

"Our alumni’s economic contributions to the community are not factored into this study. It is well-documented that a college degree tends to double one’s lifetime earning potential. We truly do transform lives, families and communities."

(Photo via Georgia Gwinnett College website)