Savannah State University News July 8, 2010 Savannah State impacts local economy by $136 million SAVANNAH, GA-Savannah State University (SSU) continues to be a major economic engine in the state, pumping $136 million into the Savannah metropolitan economy during Fiscal Year 2009, according to a study conducted by the Selig Center for Economic Growth in the University of Georgia's Terry College of Business. The report, released today, updates similar studies conducted on behalf of the Intellectual Capital Partnership Program (ICAPP), an initiative of the University System of Georgia Board of Regents' Office of Economic Development. The $136 million represents a $9 million increase since the FY 2008 report. In addition to the $136 million in total economic impact generated by Savannah State University during FY 2009, the study determined that Savannah State is responsible for 1,254 full- and part-time jobs. From among these positions, 427, or 34 percent, are on-campus jobs while 827, or 66 percent, are private- or public-sector jobs. In other words, for each job created on the Savannah State campus there are approximately 1.6 off-campus jobs that exist because of the spending related to Savannah State's presence. The report quantifies the economic benefits that Savannah State University conveys to Chatham, Effingham, Bryan, Liberty and Bulloch counties. It shows that $94 million of the $136 million in total economic impact was due to initial spending by Savannah State for salaries and fringe benefits, operating supplies and expenses, and other budgeted expenditures, as well as spending by students who attended the institution in FY 2009. Re-spending-the multiplier effect of those dollars as they are spent again in the region-accounted for another $42 million. Savannah State's spending for capital projects, primarily the Social Sciences Building that was completed in 2009, added an additional $2.9 million in output impact. Researchers found that, on average, for every dollar of initial spending in the community by Savannah State University, an additional 51 cents was generated for the local economy. "Savannah State is an educational and economic asset to the area," said Earl G. Yarbrough Sr., Ph.D., president of SSU. "The report emphasizes the growth, vitality and financial stability that Savannah State brings to the region during this period of economic recovery." The Selig Center's research, however, only highlights a portion of the true impact of Savannah State University on the community. It neither quantifies the many long-term benefits that a higher-education institution and its outreach and service units impart to its host community's economic development, nor does it measure intangible benefits, such as cultural opportunities, intellectual stimulation and volunteer work to local residents. Spending by USG retirees who still live in the host communities and by visitors to USG institutions (such as those attending conferences or athletic events) is not measured, nor are additional sources of income for USG employees, such as consulting work, personal business activities and inheritances. Overall, the report revealed the University System of Georgia's 35 institutions had an economic impact totaling $12.7 billion. The Selig Center's FY 2009 report is available at: http://www.icapp.org/pubs/usg_impact_fy2009.pdf Established in 1890, Savannah State University is on the move to become the best value-added university in the nation. The university's 3,800 students are enrolled in 23 undergraduate degree majors and five graduate programs in three colleges: Liberal Arts and Social Sciences, Business Administration and Sciences and Technology. SANDRA M. PHOENIX Program Director HBCU Library Alliance sphoenix@hbculibraries.org www.hbculibraries.org 404.592.4820 1438 West Peachtree Street NW Suite 200 Atlanta, GA 30309 Toll Free: 1.800.999.8558 (Lyrasis) Fax: 404.892.7879 www.lyrasis.org Honor the ancestors, honor the children. Register now http://www.hbculibraries.org/html/meeting-form.html for the October 24-26, 2010 HBCU Library Alliance 4th Membership Meeting and the "Conference on Advocacy" pre-conference in Montgomery, AL. The Pre-Conference and Membership meeting are open to directors and other librarians.