ABAC GENERATES OVER $100 MILLION IMPACT ON TIFTON AREA

The economic impact of Abraham Baldwin College on the Tifton area reached an all-time high of $100,741,299 during fiscal year 2003, according to a study prepared by ABAC’s Division of Business Administration.

Division Chair Jeff Gibbs said this figure represents a 79 percent increase over the fiscal year 2000 economic impact of $56 million. The estimate was based on projected student expenditures, institutional expenditures, and ongoing capital project expenditures.

In terms of employment, the study showed that ABAC added $40 million in labor income to the economy of the seven-county region and created 1,281 total jobs in the area. Approximately 20 percent of these positions are on the ABAC campus.

“On average, for each job created on campus, there are four off-campus jobs that exist because of spending related to the college,” Gibbs said. “Even though state budget cuts have reduced the ABAC budget by over $2 million in the same time period, substantial increases in enrollment and capital projects have fueled the increase in economic impact.”

ABAC reached its all-time enrollment high this fall with 3,407 students. These students come from 146 Georgia counties, 22 other states, and 22 countries. Approximately 800 students live on campus.

Under ABAC President Mike Vollmer’s leadership, the college has embarked on an ambitious construction program. In 2003 alone, ABAC’s total construction expenditures exceeded $26 million. Recent projects included the $1.5 million Pedestrian Mall, which celebrated its grand opening in October, and the new $7.1 million Agricultural Sciences Building, which will open in January. Howard Auditorium is in the process of a $1.2 million renovation, and a new $7.8 million Health Sciences building is also on the drawing board.

The largest construction project currently underway is the $32 million ABAC Place apartment project, which will develop 835 new rooms on the campus. Most of the units will be four-bedroom, two-bath with a full kitchen and living area. Each student will have a private room, complete with Internet, phone, and cable television access.

Gibbs said ABAC’s economic impact report, based on the methodology of Dr. Jeffrey M. Humphreys of the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business, is a very conservative estimate of the value of ABAC to the local economy.

“This model, developed by the University System, is designed so that it will fit all 34 public institutions in Georgia,” Gibbs said. “This makes the analysis easier for comparisons, but the model fails to take into account the unique contributions of ABAC and thereby underestimates the impact. The ABAC Foundation, the Abraham Baldwin Arts Connection, the Public Service and Business Outreach Center, and other programs housed on ABAC’s campus contribute to the impact, but they are not included in the model.”

# # #