GMC News
Georgia Military College Provides Significant Economic Impact in 14 Georgia Counties
Georgia Military College Provides Significant Economic Impact in 14 Georgia Counties
The Carl Vinson Institute of Government conducted a study to determine the economic impact of Georgia Military College’s (GMC) operating and capital budget expenditures within the state of Georgia.
The research showed that GMC’s economic impact extends far beyond Milledgeville, the primary location for GMC’s operations, including its Main College Campus, its Global Online Leadership College, institutional offices, and a K-12 Preparatory School. GMC’s impact can be seen on and off campus in all 14 counties where it has a physical location and in Georgia as a whole.
Georgia Military College adds significant economic value to the Baldwin County area as an employer of regional residents, home to resident and commuter students and buyer of goods and services. In FY 2021-22, GMC employed 908 full-time and part-time faculty and staff who lived around the region. Locally, the college payroll of $31 million, and operational spending of $26M added nearly $63M in total economic output, much of which was spent in the region for groceries, mortgage and rent payments, dining out, and other household expenses. In addition, between 2018-2023 capital investment spending averaged $12.4 million annually and supported nearly 90 jobs a year.
Georgia Military College generated $61 million in labor income across the state of Georgia. GMC adds $73 million in value and $97 million in economic activity in the 14 counties where it operates. Statewide, GMC’s operations add $80 million in value to Georgia’s economy on more than $110 million in economic activity. Every dollar of economic activity at GMC results in an additional $1.07 in economic activity elsewhere in Georgia.
“GMC is proud to be a significant economic generator in the state of Georgia” said President of Georgia Military College, Lieutenant General William B. Caldwell IV, USA (Ret). “GMC is able to provide 1,508 direct employment jobs in 14 Georgia counties while in turn supporting an additional 550 off-campus jobs. It is phenomenal knowing GMC is supporting over 2,000 Georgians and making such a significant economic impact on Georgia communities.”
The Carl Vinson Institute of Government research team used IMPLAN, a county-based input-output model of the U.S. economy to estimate the economic impacts of GMC’s operating and capital budget expenditures. IMPLAN uses 546 distinct economic sectors based on the North American Industrial Classification System (NAICS), including one for colleges and universities. The two measures of economic activity that IMPLAN provides are value added to the local economy and total economic output. Value added to the local economy is the sum of labor income, estimated business profits, and estimated taxes collected on behalf of the government. These are the resources that circulate longest in the local economy. Total economic output is akin to the national gross domestic product. It is the total value of all goods and services produced as a result of the initial economic activity.
GMC provided data for its fiscal year 2022 operating budget and for capital expenditures for fiscal years 2018 through 2023 for this study. To read the complete study click here.
