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March 11, 2014

Study: CGTC, MGTC merger results in $95.5M economic impact

MILLEDGEVILLE — Central Georgia Technical College’s economic impact within its 11-county service area results in $95.5 million annually, according to a recent study.

According to Dr. Jeffrey M. Humphreys, director of the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business, the $95.5 million represents the combined total economic impact of both Middle Georgia Technical College (MGTC) and the former Central Georgia Technical College (CGTC).

The new Central Georgia Technical College was formed by the merger of these two colleges in July 2013.

The economic impact is in a new report from Humphreys that details his analysis of economic data from the Technical College System of Georgia (TCSG) for the 2012 fiscal year, the year prior to the merger of CGTC and MGTC.

The study also found that the college’s spending results in a combined 1,285 public and private sector jobs. Humphreys reported that statewide, for each job created on a TCSG college campus, one off-campus job exists because of college-related expenditures. One in every 264 non-farm jobs in Georgia, he said, occurs because of spending associated with a TCSG college.

"The fundamental finding is that each of the TCSG colleges, including Central Georgia Technical College, creates substantial economic impact in terms of output, value added, labor income and employment. These economic impacts demonstrate that continued emphasis on technical colleges as an enduring pillar of the regional economy translates into jobs, higher incomes, and greater production of goods and services for local households and businesses,” said Humphreys.

The TCSG commissioned Humphreys to calculate the importance that spending connected to the state’s technical colleges has for their service delivery areas, which range in size from two to 11 counties. CGTC has one of the largest service delivery areas in the system, serving 11 counties including Baldwin, Bibb, Crawford, Dooly, Houston, Jones, Monroe, Peach, Pulaski, Putnam and Twiggs. Several categories of college expenditures were reviewed for the study, including personnel salaries and fringe benefits, college operations, capital construction projects, and student spending, to name a few.

The result, put in the context of the taxpayer investment, indicated that the $20.8 million state appropriation for both MGTC and CGTC in 2012 supported the enrollment of 14,639 students, generated $95.5 million in local spending, and helped to sustain almost 1,300 college-related jobs.

“As our campuses and programs expand, we expect to have an even more significant economic impact on the middle Georgia region by educating a well-qualified workforce that will, in-turn, lead to an even more successful and robust economy.” said Dr. Ivan Allen, president of Central Georgia Technical College.

Statewide, the $315 million state appropriation for the TCSG in 2012 helped to train almost 153,000 technical college students, contributed to $1.2 billion in direct and indirect spending in communities throughout Georgia, and was a factor in almost 15,000 public and private sector jobs.

“The spending factor alone is a sizable return on the state’s investment in the TCSG, and it would be significantly higher if we were to add the economic value that our graduates create once they leave college and meet employers’ needs for a skilled workforce,” said Ron Jackson, commissioner of the TCSG.

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