{"676022":{"#nid":"676022","#data":{"type":"news","title":"Georgia Tech\u2019s Economic Impact Reaches Record $5.3 Billion for Fiscal Year 2023","body":[{"value":"\u003Cp\u003EFor Fiscal Year 2023, Georgia Tech has achieved a record economic impact of $5.3 billion, the highest of any public university in the state, according to a new report by the University System of Georgia (USG). \u0026nbsp;\u003C\/p\u003E\u003Cp\u003EThe report, conducted by the Selig Center for Economic Growth in the University of Georgia\u2019s Terry College of Business, reveals that Georgia Tech\u0027s economic impact has grown by 38% since 2019, significantly outpacing the overall growth of 19% across the entire USG system during the same period. Georgia Tech now accounts for 24% of USG\u0027s total economic impact, up from 21% in 2019, and is responsible for 42% of all economic growth within the USG since 2019.\u003C\/p\u003E\u003Cp\u003EIn addition to its financial contributions, Georgia Tech also leads in the state in employment impact, supporting almost 34,000 jobs \u2014 more than any other university in Georgia. The university\u0027s growth in economic impact stands at 17.7%, the highest in Georgia.\u003C\/p\u003E\u003Cp\u003E\u201cAs a public institution of higher education committed to Progress and Service, we are pleased to contribute to the state\u0027s economic impact,\u0022 said \u00c1ngel Cabrera, president of Georgia Tech. \u0026nbsp;\u0022We are proud to elevate Atlanta and the entire state through the talent we cultivate, the research we conduct, and the innovation and entrepreneurship we champion.\u201d\u003C\/p\u003E\u003Cp\u003ETech\u2019s economic impact is part of the larger $21.9 billion contribution made by USG\u2019s 26 institutions to the state\u2019s economy during the same period.\u003C\/p\u003E\u003Cp\u003EThe report also highlighted the long-term value of a college degree. USG bachelor\u2019s graduates from the Class of 2023 are expected to earn $1.4 million more over their lifetimes \u2014 compared to those without a college degree. Georgia Tech graduates play a leading role in this projection.\u0026nbsp;\u003C\/p\u003E\u003Cp\u003EFor more details on Georgia Tech\u0027s economic impact and the USG\u2019s broader contributions, the full reports are \u003Ca href=\u0022https:\/\/www.usg.edu\/news\/release\/university_system_of_georgias_economic_impact_grows_to_21.9_billion_as_graduates_earn_1.4_million_more_with_their_college_degrees\u0022\u003Eavailable on the USG website\u003C\/a\u003E.\u003C\/p\u003E","summary":"","format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cp\u003EGeorgia Tech achieved a record $5.3 billion economic impact in 2023, the highest in the state of Georgia. The university has driven significant economic growth, accounting for 24% of the University System of Georgia\u2019s total impact and 42% of its economic growth since 2019. Additionally, Georgia Tech leads in employment impact, supporting 34,000 jobs across the state.\u003C\/p\u003E","format":"limited_html"}],"field_summary_sentence":[{"value":"Georgia Tech\u2019s record $5.3 billion economic impact for 2023 underscores its leading role in driving Georgia\u0027s economic growth and job creation, with the highest state impact and employment contribution."}],"uid":"35797","created_gmt":"2024-08-15 13:35:12","changed_gmt":"2024-08-30 16:30:21","author":"Siobhan Rodriguez","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2024-08-15T00:00:00-04:00","iso_date":"2024-08-15T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"674604":{"id":"674604","type":"image","title":"TechTower.jpg","body":null,"created":"1723740800","gmt_created":"2024-08-15 16:53:20","changed":"1725049926","gmt_changed":"2024-08-30 20:32:06","alt":"Image of Tech Tower","file":{"fid":"258355","name":"TechTower.jpg","image_path":"\/sites\/default\/files\/2024\/08\/30\/TechTower.jpg","image_full_path":"http:\/\/hg.gatech.edu\/\/sites\/default\/files\/2024\/08\/30\/TechTower.jpg","mime":"image\/jpeg","size":382865,"path_740":"http:\/\/hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/2024\/08\/30\/TechTower.jpg?itok=XzZnzqdj"}}},"media_ids":["674604"],"groups":[{"id":"1278","name":"College of Sciences"},{"id":"1214","name":"News Room"}],"categories":[],"keywords":[{"id":"109","name":"Georgia Tech"},{"id":"290","name":"Economy"},{"id":"193913","name":"economic benefit"},{"id":"1033","name":"Economic Impact"},{"id":"193914","name":"usg study"},{"id":"8521","name":"universities"},{"id":"4744","name":"money"},{"id":"170826","name":"stats"},{"id":"193916","name":"2023 impact report"},{"id":"13983","name":"Return on investment"},{"id":"506","name":"alumni"}],"core_research_areas":[],"news_room_topics":[{"id":"106361","name":"Business and Economic Development"},{"id":"71871","name":"Campus and Community"}],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003ESiobhan Rodriguez\u003C\/p\u003E\u003Cp\u003EInstitute Communications\u0026nbsp;\u003C\/p\u003E","format":"limited_html"}],"email":["sar30@gatech.edu"],"slides":[],"orientation":[],"userdata":""}}}