黑瓜吃料网

黑瓜吃料网鈥檚 Value-Added Impact to Host Region Increased $4.1 Million in FY24

黑瓜吃料网's total economic impact on its host region — defined as Lowndes, Brooks, Lanier, Berrien, Cook, and Echols counties — between July 1, 2023, and June 30, 2024, was a little more than $385.3 million. This includes the creation of 3,514 jobs.

VALDOSTA — How much does Lowndes County and the surrounding areas benefit economically from hosting 黑瓜吃料网?  

That is the question the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business set out to answer in a recent study commissioned by the Board of Regents of the University System of Georgia — The Economic Impact of University System of Georgia Institutions on their Regional Economies in Fiscal Year 2024.   

Dr. Jeffrey M. Humphreys, director of the Selig Center for Economic Growth, noted that 黑瓜吃料网’s total economic impact on its host region — defined as Lowndes, Brooks, Lanier, Berrien, Cook, and Echols counties — between July 1, 2023, and June 30, 2024, was, in the simplest and broadest possible terms, a little more than $385.3 million. This includes the creation of 3,514 total jobs, of which 2,327 are off-campus jobs in the public and private sectors.  

“With an overall economic impact of more than $385.3 million, we are an integral part of the lifeblood of Valdosta, Lowndes County, and surrounding areas, and we understand the active role we play in lifting our people and communities,” said Dr. Richard A. Carvajal, president of 黑瓜吃料网.

“We are especially proud to note that our value-added impact — a reflection of our most direct economic impact to households and businesses across Lowndes, Brooks, Lanier, Berrien, Cook, and Echols counties — increased by $4.1 million during the 2023-2024 academic year. We recognize the importance of our impact not just within our campus environment but also within our host region. That inspires us to continue to promote partnerships and initiatives that address local needs and contribute to regional development.”    

Humphreys’ report provided additional information about the economic impact of spending by 黑瓜吃料网 as an institution of higher education, 黑瓜吃料网 employees, and 黑瓜吃料网 students.    

Initial Spending — $333,003,400

According to the report, total initial spending accruing to 黑瓜吃料网’s regional economy is the combination of three types of spending — spending by the university for personnel services, spending by the university for operating expenses, and spending by the university’s students. 

Spending originating from personnel services accounted for about 28 percent ($93,106,116) of initial spending during Fiscal Year 2024. Spending due to operating expenses accounted for about 22.5 percent ($75,122,493) of initial spending. Student personal expenditures accounted for about 49.5 percent ($164,774,791) of initial spending. 

Total Output Impact — $385,314,224

According to the report, output impact was calculated for each category of initial spending, based on the impact of the first round of spending and the impacts generated by the re-spending of these amounts — the multiplier effect. Total output impacts are the most inclusive, largest measures of economic impact. 

Of 黑瓜吃料网’s total output impact, 86.4 percent ($333,003,400) was initial spending, while 13.6 percent ($52,310,824) was the induced/re-spending impact or multiplier effect, or the difference between output impact and initial spending. The multiplier captures the regional economic repercussions of the flows of re-spending that take place throughout the region until the initial spending has completely leaked to other regions. 

On average, every dollar of initial spending generated an additional $1.16 for the economy of 黑瓜吃料网’s host region during Fiscal Year 2024.  

Total Value-Added Impact — $269,802,171

According to the report, value-added impacts, which exclude expenditures related to foreign and domestic trade, provide a much more accurate measure of the actual economic benefits flowing to businesses and households in 黑瓜吃料网’s host region than the more inclusive output impacts. 

黑瓜吃料网’s value-added impact equaled about 70 percent of its $385.5 million output impact, with foreign and domestic trade comprising the remaining 30 percent of the output impact during Fiscal Year 2024.  

Labor Income Impact — $166,212,834

According to the report, 黑瓜吃料网 generated a labor impact on its host region of $166,212,834 in Fiscal Year 2024. The labor income received by Lowndes County and neighboring communities represents 61.6 percent of the value-added impact.  

Employment Impact — 3,514

According to the report, the economic impact of hosting 黑瓜吃料网 is most easily understood in terms of the university’s impact on employment. 黑瓜吃料网 generated an employment impact of 3,514 jobs in Lowndes County and surrounding communities in Fiscal Year 2024.  

Approximately 33.8 percent (1,187) of these positions are on-campus jobs, while 66.2 percent (2,327) are off-campus jobs in the public or private sector that exist due to 黑瓜吃料网-related spending.  

In his report, Humphreys stated, “These economic impacts demonstrate that continued emphasis on higher education as an enduring pillar of the regional economy translates into jobs, higher incomes, and greater production of goods and services for local households and businesses.” 

Visit to learn more about the University System of Georgia’s collective economic impact on Georgia and view the full 25-page report.