Economic impact of ABAC over $280 million

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The total economic impact of Abraham Baldwin Agricultural College on Tifton and the surrounding area totaled $281,563,172 during the 2011 fiscal year, according to a new study commissioned by the Board of Regents of the University System of Georgia. Contributed Photo

September 26, 2012

Economic impact of ABAC over $280 million

Anonymous CNHI The Tifton Gazette Wed Sep 26, 2012, 09:39 PM EDT

TIFTON — The total economic impact of Abraham Baldwin Agricultural College on Tifton and the surrounding area totaled $281,563,172 during the 2011 fiscal year, according to a new study commissioned by the Board of Regents of the University System of Georgia.

The Selig Center for Economic Growth in the University of Georgia’s Terry College of Business produced the report which showed the 35 colleges and universities in the System had a $13.2 billion economic impact on the state’s economy during Fiscal Year 2011, up 5% than the $12.6 billion for 2010.

ABAC President David Bridges predicts that the college’s impact will continue to increase.

“We are attracting more 4-year and out of state students,” Bridges said. “Our bachelor’s degree programs saw an increase of 305 from last year. We are keeping more students in Tifton for four years and they will likely experience the quality of life in South Georgia and stay after graduation. ”

The historic front of campus project also continues to boosts the local economy.

“Tift Hall is complete, and we are making progress on Lewis and Herring with hopes of having them completed by the end of the year,” Bridges said. “We are looking forward to the Front Campus Rededication on March 1.”

Dr. Jeff Gibbs, professor of economics at ABAC, analyzed the Selig Center report and found additional impact that actually boosted the ABAC impact.

“During the fiscal year of 2011, ABAC had 380 jobs on campus,” Gibbs said. “That includes full time employees and part time faculty. Using the appropriate multiplier effect, those jobs created an additional 1,125 jobs in the geographic area of ABAC.”

Gibbs said student spending alone was $60,185,580.

“ABAC continues to show its importance as an economic engine for this area. Even though job growth is slow for the economy as a whole, ABAC supports 2.8 jobs outside of its own payroll,” Gibbs said. “You should also remember that these numbers, impressive as they are, do not reflect the intangible contributions to the area that affect our quality of life, the impact that ABAC retirees have on the economy, as well as other related activities like the Georgia Museum of Agriculture.”

ABAC attracts students from 151 of Georgia’s 159 counties, 22 states, and 25 countries. Over 1,200 students live on campus.

Bridges said the community is working to grow and help provide jobs and activities for students.

“Tifton continues to compete for new business and the town is growing, giving ABAC students more opportunities,” Bridges said. “Community members really showed their support with the ‘Welcome Back ABAC Students’ signs that the ABAC ambassadors sold back in August. The students felt the love from the community.”

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