WC’s impact on local economy totals $23.5 million

July 9, 2010

Waycross College made a $23.5 million economic impact on the local economy in fiscal year 2009, according to a new study released by the University System of Georgia (USG).

According to the study, WC spent $4.5 million in salaries and $4.4 million in operating expenses during the reporting period (July 1, 2008 – June 30, 2009).  WC’s students spent $9.7 million, bringing WC’s direct economic impact to $18.6 million.  Every dollar of initial spending generated approximately 51 additional cents for the local economy through subsequent spending, bringing WC’s total impact on southeast Georgia to $23.5 million.

With respect to jobs, WC directly employed 96 people in FY 2009.  Spending by the college as well as faculty, staff, and students created an additional 157 jobs off campus, which brought the total number of college-related jobs to 253.  In simpler terms, each job on campus created approximately 1.6 jobs off campus.

“This economic impact study reinforces what we believe everyday about the relationship between Waycross College and our local community,” said Dr. David Palmer, president of WC.  “There is a mutually beneficial, symbiotic relationship between Waycross College and the ten counties we serve.”

The previous study, which was based on FY 2008 data, placed WC’s total economic impact at $20.6 million.  The very first USG economic impact study calculated $13.6 million for WC in FY 1999.  WC has thus increased its economic impact on the local economy by $9.9 million – or 42 percent – over the last ten years.

The study was conducted by the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business and measures the economic impact of the USG’s 35 institutions.  For FY 2009, the USG made a $12.7 billion impact on the state of Georgia, up from $12.1 billion a year ago.

According to the study, seven counties were included in WC’s study area – Atkinson, Bacon, Brantley, Clinch, Coffee, Pierce, and Ware.

These findings support similar studies conducted on behalf of The Intellectual Capital Partnership Program, an initiative of the Board of Regents’ Office of Economic Development. 

Waycross College has been a proud member of the University System of Georgia since the college’s founding in 1976.

Contact Information:
Taylor Hereford
Director of Development and Community Services
thereford@waycross.edu