Athens Technical College Adds $118.1 Million Economic Impact to the Region, Study Reveals
Date: Jan 29,2019
Athens Technical College’s (ATC) economic impact on its surrounding communities continues to expand, adding $118.1 million to its service area for fiscal year 2016-2017. EMSI, a leading provider of economic impact studies and labor market data, examined Athens Technical College’s economic impact through its students, employees, and alumni for that one-year period. In addition, analysts studied the institutions return on investment for students, taxpayers, and society. Data from among the institutions financial and academic operations, Census Bureau and the U.S. Bureau of Labor Statistics were used in the study.
Athens Technical College’s service area includes Clarke, Elbert, Greene, Hart, Madison, Morgan, Oconee, Oglethorpe, Taliaferro, Walton, and Wilkes Counties.
The Economic Impact analysis examined the College’s operations spending, student spending, and the impact of alumni who have remained in the College’s service area, purchasing goods and services. The combined total impact of $118.1 million includes $25.8 million in operations spending, $6.6 million in student spending, and $85.6 million generated by alumni working in the region. On average, an ATC student will earn 18.7% more than a non-student. This is over 8.5% more than the Stock-Market’s 30-year average. The study revealed that the College’s economic impact represents approximately 0.8% of the region’s gross regional product and supports 2,535 jobs in the region.
The top industries impacted by Athens Technical College:
- Health Care & Social Assistance -$15.8 million
- Manufacturing - $10.6 million
- Government, Non-education - $9.7 million
- Other Services - Business (except Public Administration) - $8.1 million
- Accommodation & Food Services - $7.7 million
In addition, EMSI’s investment analysis revealed:
- For every $1 invested in ATC by students, the College returns $5.60 in additional lifetime earnings.
- For every $1 invested in ATC by taxpayers, the College returns $5.90 to government coffers.
- For every $1 invested in ATC by society, the College returns $16.90 in added state revenue and social savings reductions for government-funded services in Georgia.
Dr. Andrea Daniel, President of Athens Technical College commented, "Athens Technical College has been invested in our community for over half a century. Though we have known and felt the impact generated by the College, it is great to see the supporting data. The positive impact between an education earned from ATC and the positive effect the College has on taxpayers and community is included in the study. Georgia as a whole spent an estimated $56.2 million on education obtained at ATC in FY 2016-17. In return, the state of Georgia will receive an estimated present value of $934.9 million in added state revenue over the course of the students' working lives. Also, Georgia will benefit from an estimated $18 million in social savings related to reduced crime, lower welfare unemployment, and increased health and well-being across the state. ATC is a life-changing institution for students, the region, and the State of Georgia."