Dalton State’s economic impact reaches record high
Dalton State College’s economic impact on the region grew to nearly $138 million for Fiscal Year 2023, reaching a record high for the institution and illustrating the college’s role as an economic anchor for the communities we serve.
The information comes from an annual study by the University System of Georgia (USG) that analyzes the economic and labor impacts of all 26 institutions in the USG by factoring initial spending by the organization and further stimulation for goods and services, including housing, restaurants and transportation.
Dalton State’s $137.8 million economic impact, a 4% increase over the prior year, consisted of $123 million in initial spending by the college and its students and employees from July 1, 2022, and June 30, 2023. The remaining $14.8 million was generated by the re-spending of initial dollars within the Northwest Georgia region, including Bartow, Catoosa, Gilmer, Gordon, Walker and Whitfield counties.
Dalton State’s labor impact included 1,161 full- and part-time jobs at and beyond the college. For every on-campus job, three jobs exist across the region due to institution-related spending.
Dalton State’s economic impact also extends to the workforce of tomorrow and the lifetime earnings potential of postsecondary education. A companion study found that USG bachelor’s graduates from the Class of 2023 will earn nearly $1.4 million more during their lifetimes than they would have without their college degree.
Each step in the higher education degree completion process translates into higher lifetime earnings, benefitting the individual, their family and the community. According to the study, those earning a certificate could expect increased earnings of $284,199, while those completing an associate degree earn $449,323 more and those graduating with a bachelor’s degree earn $1,373,595. In 2023, 33 Dalton State students earned a certificate, 240 earned an associate or two-year degree, and 441 earned a bachelor’s degree. So those 441 students who graduated with a bachelor’s degree will earn – on average – $1 million more over their lifetimes than they would without completing the four-year degree.
The study’s spotlight on higher lifetime earning potential is significant and points to the high return on investment that Dalton State provides its graduates and the community. Dalton State began offering bachelor’s degree programs 25 years ago and now students can choose to specialize in 24 bachelor’s degrees to gain the knowledge and skills needed for a variety of careers, including engineering, business, healthcare, education, and computer science careers.
With the ability to pursue fulfilling and well-paying careers, our graduates have transformational opportunities for themselves and their families. In addition, more than 70% of our graduates choose to live and work in our area and much of their lifetime earnings are spent in our local region, further contributing to the region’s economy and quality of life.
Dalton State is proud to play a vital role in the growth of our region. With fall enrollment increases over the past two academic years, we are on a positive trajectory to continue having a strong economic impact on the region for generations to come.