Last month the USG released an economic impact report acknowledging that Columbus State University is currently adding $290 million to the Georgia and U.S. economies each year, representing 1.8% of the $16 billion Columbus area economy in FY 2022. These figures were generated by approximately $251 million of initial spending by CSU, including $135 million spent by CSU on personnel and operations, and $116 million spent by students. The $39 million difference between the two numbers -- $251 million and $290 million -- represents the multiplier effect on CSU's direct spending.
WTVM News Leader 9 recently spoke with Fady Mansour, an associate professor of economics in the Turner College, about the report, which shows that 22% of the CSU spending supported industries and businesses outside the Columbus area due to outsourcing. This is compared to 1% for the USG collective spending, a gap that Mansour pointed out shows significant opportunities for entrepreneurs and small businesses in the Columbus area to expand to meet an increasing demand. The CSU spending created 906 jobs on campus and another 1,938 indirect jobs created by the multiplier impact and induced spending. Mansour also explained that there are also non-measurable and intangible benefits such as intellectual stimulation, cultural opportunities, improving life quality, and the support CSU provides to businesses in the area by developing human capital and supplying the labor they need. The USG also estimates that over the lifetime, a USG graduate makes an additional earning of $377,000 and $1,152,500 for associate's and bachelor's degrees, respectively. Given the number of CSU graduates, Mansour told the news media service that this finding shows a further significant impact on the Columbus area and regional economy that was not measured by the report.
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