July 10, 2012
Waycross College had a $22.5 million economic impact on the local economy in fiscal year 2011, according to a new study released by the University System of Georgia (USG).
According to the study, WC spent $4.7 million in salaries and $4.3 million in operating expenses during the reporting period (July 1, 2010 – June 30, 2011). WC’s students spent $11.9 million, bringing the College’s direct economic impact to $20.9 million. Every dollar of initial spending generated an average of 39 additional cents for the local economy through subsequent spending, bringing WC’s total impact on southeast Georgia to $22.5 million.
With respect to jobs, WC directly employed 82 people in FY 2011. Spending by the College as well as faculty, staff, and students created an additional 220 jobs off campus, which brought the total number of college-related jobs to 302. In simpler terms, for each job created on campus, there are two off-campus jobs that exist because of spending related to the College.
“The data from this study confirms what the people of Waycross and Ware County have known for 36 years, which is Waycross College continues to be a significant contributor to the overall success of this area,” said Dr. Mary Ellen Wilson, WC’s interim president.
The previous study, which was based on FY 2010 data, placed WC’s total economic impact at $22.7 million.
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 2011, the USG made a $13.2 billion impact on the state of Georgia, which is five percent higher than FY 2010 ($12.6 billion).
According to the study, seven counties were included in WC’s study area – Atkinson, Bacon, Brantley, Clinch, Coffee, Pierce, and Ware.
Beginning in January 2013, Waycross College will be consolidated with South Georgia College in Douglas. Future economic impact studies will incorporate statistics generated from the consolidated institution. The FY 2011 study indicates the combined economic impact of WC and SGC to be $70.7 million and 964 jobs.
“As we consolidate with South Georgia College, it stands to reason that bringing the two institutions together will further enhance the region’s economic impact,” Dr. Wilson said.The full economic impact study with data for all 35 USG institutions is available at http://www.usg.edu/economic_development/documents/PS-USGImpact2011.pdf .
Waycross College has been a proud member of the University System of Georgia since the college’s founding in 1976.
Director of Development and Community Services