News Summary
Savannah State University has significantly boosted Georgia’s economy with a contribution of $164.4 million for the fiscal year. This marks a 9.3% increase from the previous year, emphasizing the university’s vital role in local economic development. Key factors include student spending, personnel services, and operating expenses, further amplifying job creation. New initiatives, such as an internship program for business students, aim to merge academic skills with practical experience, thereby enhancing workforce capacity and fostering community engagement.
Savannah, Georgia – Savannah State University (SSU) has made a significant contribution of $164.4 million to Georgia’s economy during the fiscal year 2024. This amount represents a 9.3% increase compared to the previous fiscal year, showcasing the university’s growing role as an economic driver in the region.
The findings come from a report produced by the Selig Center for Economic Growth at the University of Georgia. This report assesses the economic impact of the University System of Georgia’s 26 public colleges and universities. Specifically, SSU’s contributions can be broken down into several critical areas of impact:
- $65.6 million in student spending
- $60.8 million in personnel services
- $37.8 million in operating expenses
This financial activity translates into broad direct economic effects on the regional economy, mainly through salaries, wages, operating expenses, and local purchasing stimulated by student expenditures. For every job available on campus, approximately two additional jobs are supported off-campus due to the demand for goods and services related to the university.
An economic multiplier effect is also noted for USG institutions, indicating that for every dollar spent, an additional 52 cents is generated in economic activity within the surrounding community. This phenomenon contributes to the circulation of university-related spending through various local businesses, including shops, restaurants, housing, transportation, and healthcare providers.
While specific employment data for SSU was not available, the broader statistics show that across Georgia, every $1 million spent by the university system facilitates approximately 11 jobs. Beyond economic contributions, SSU enhances community engagement through its cultural programs, research initiatives, and public service activities, all of which foster innovation and growth.
Educational attainment through degrees awarded by SSU and other USG institutions is also critical, as they are expected to improve lifetime earnings and strengthen the workforce within high-skill industries. The university’s president emphasized that SSU serves not only as an educational institution but as a vital economic engine for the region.
Particularly, SSU’s economic influence is notably felt in the counties of Chatham, Effingham, Bryan, Liberty, and Bulloch. Consequently, new initiatives like an internship program have been developed. This program is set to provide an SSU business student with the opportunity to gain practical work experience with Savannah’s economic development department starting in May 2025. The creation of this paid internship is a collaboration involving multiple organizations, including the Savannah Area Chamber of Commerce and Hyundai.
Applications for this valuable internship opportunity are expected to be opened in February 2025, with aspirations to eventually expand the program to include other higher education institutions in the surrounding region. This approach aims to combine academic knowledge with practical experience in economic development, further enhancing the capacity of the local workforce.
In summary, the economic contributions of Savannah State University to the Georgia economy highlight its crucial role in fostering growth, creating jobs, and supporting local businesses while educating the next generation of leaders.
Deeper Dive: News & Info About This Topic
HERE Resources
Georgia Surpasses 5 Million Jobs Amid Mixed Employment Signals
Georgia Southern University Reports Economic Impact
Labor Day Weekend Weather Outlook in Savannah
Savannah Sees Decreased Rain Chances Over Holiday Weekend
Gender Equity in Sports Policy Under Review by School Board
Georgia Farmers Urged to Combat Cotton Jassid Infestation
Savannah State University Boosts Georgia’s Economy
New Residency Program to Address Doctor Shortage in Georgia
Gunfire Near School Bus Stops Raises Safety Concerns in Savannah
Georgia Ports Authority Reports Significant Job Growth
Additional Resources
- WTOC: Savannah State Powers $164M Boost to Georgia’s Economy
- WJCL: Savannah State University’s Economic Spike in Georgia
- WSAV: SSU Generates $164 Million Economic Impact
- Savannah Now: Savannah State Partners with City on Economic Development Internship
- Wikipedia: Savannah State University
Author: STAFF HERE SAVANNAH WRITER
SAVANNAH STAFF WRITER The SAVANNAH STAFF WRITER represents the experienced team at HERESavannah.com, your go-to source for actionable local news and information in Savannah, Chatham County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Savannah Music Festival, St. Patrick's Day Parade, and Savannah Jazz Festival. Our coverage extends to key organizations like the Savannah Area Chamber of Commerce and United Way of the Coastal Empire, plus leading businesses in aerospace, education, and logistics that power the local economy such as Gulfstream Aerospace, Savannah College of Art and Design, and Colonial Group. As part of the broader HERE network, including HEREAtlanta.com and HEREAugusta.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
