KENNESAW, Ga. | Aug 15, 2024

Kennesaw State University’s economic impact in metro Atlanta increased to nearly $2.15 billion in fiscal year 2023, according to a University System of Georgia (USG) report released Wednesday.

Kennesaw State’s FY 2023 economic impact in the 29-county Atlanta Metropolitan Statistical Area marked a 5.6% increase from $2.03 billion the previous year. The total impact of all 26 USG institutions on their communities was $21.9 billion in fiscal year 2023, up 9% from $20.1 billion in FY 2022.

KSU’s personnel and operating expenses, combined with education-related spending by students, accounted for $1.3 billion of its total FY 2023 economic impact. Additionally, roughly $841 million resulted from the institution, its employees, and students purchasing goods and services in the community, such as at restaurants and retail stores.

“The strength of these numbers affirms Kennesaw State’s commitment to driving economic opportunity and fostering community partnerships throughout the region and state that we so proudly serve,” KSU President Kathy S. Schwaig said. “Our commitment to collaboration and innovation continues to position KSU as a catalyst for growth and prosperity across Georgia.”

Now serving more than 47,000 students, Kennesaw State’s collective employment impact in FY 2023 was 15,904 full- and part-time jobs – including 4,271 jobs on campus and 11,633 jobs off campus in either the private or public sectors. The study found that, for each job created by KSU on its campus, another 2.7 jobs were created in the local community.

In addition to the annual economic impact study, USG released a companion study that found bachelor’s graduates in the class of 2023 from Georgia’s public colleges and universities will earn $1.4 million more during their lifetimes than they would without a degree.

“USG continues to be a million-dollar deal for our graduates, and we have the data to prove USG degrees will help them increase their prosperity and success,” USG Chancellor Sonny Perdue said. “At the same time, we are a billion-dollar deal for Georgia. Our 26 public colleges and universities make a significant economic impact by helping to put Georgians to work and sustaining local communities across the state.”

The University System’s measure of economic impact reflects direct and indirect spending that contributes to the regions served by its colleges and universities. The report evaluates economic impact in terms of output (sales, plus or minus inventory), value added (gross regional product), labor income and number of jobs.

The University of Georgia’s Terry College of Business analyzed data for the period of July 1, 2022 to June 30, 2023 to calculate each school’s economic impact.

Read the full USG economic impact report here.

A leader in innovative teaching and learning, Kennesaw State University offers undergraduate, graduate and doctoral degrees to its more than 45,000 students. Kennesaw State is a member of the University System of Georgia with 11 academic colleges. The university’s vibrant campus culture, diverse population, strong global ties and entrepreneurial spirit draw students from throughout the country and the world. Kennesaw State is a Carnegie-designated doctoral research institution (R2), placing it among an elite group of only 7 percent of U.S. colleges and universities with an R1 or R2 status. For more information, visit kennesaw.edu.