January 10, 2005
Study shows economic impact of Valdosta State University onValdosta-MSA for F.Y. 2004 was $304.7 million
Valdosta State University's economic impact on Valdosta's
metropolitan statistical area (Valdosta-MSA) was $304.7 million and
4,906 jobs during Fiscal Year 2004, according to a recent study
completed through The South Georgia Institute. SGI is based in
VSU's Harley Langdale, Jr. College of Business Administration. Dr.
Cynthia Royal Tori, Associate Professor of Economics, authored the
The Valdosta-MSA includes VSU's home county Lowndes, as well as Brooks, Echols, and Lanier counties. The report shows that Valdosta State University is the third largest employer in the Valdosta-MSA.
In order to calculate the economic impacts, Dr.Tori said the study considers two university-related sources of local expenditures: expenditures by VSU itself, and expenditures by students who attend VSU. She said during the time frame of the study, VSU enrolled over 10,000 students during the 2003 fall and 2004 Spring Semesters and conferred 1,953 undergraduate and graduate degrees during the 2003-2004 academic year.
The $304.7 million economic impact of VSU represents 12 percent of the total personal income in the region. In addition the study shows that directly and indirectly the jobs created by VSU represent 9 percent of the labor force in the MSA. This includes VSU employees as well as new jobs generated to fill the business and service needs of university employees and students. Two and a half jobs are created for every job at VSU.
?Seventy-nine percent of VSU students come from outside the MSA region, infusing significant dollars into the region's economy,? said VSU President Ronald M. Zaccari during the Spring Semester Convocation Address on January 6, 2005. ?The figures clearly show how important VSU is to the MSA region.?
Fifty one percent ($154.8 million) of the $304.7 million economic impact results from VSU students spending money on dining, entertainment, rent, utilities, and other items, the study shows. Student spending generates 28 percent of the jobs created by VSU's presence.
Valdosta State University is one of two regional universities with the University System of Georgia and is located within the city limits of Valdosta in the southwest region of Georgia. VSU is about 18 miles from the Florida border.