The Savannah College of Art and Design has an economic impact of $386 million on the Savannah area, according to a report.
The study was released Thursday was conducted by the economic development consulting firm, Appleseed.
The report concludes that in 2012 SCAD generated 4,413 jobs; accounted for $179 million in wages; drove $88 million in student spending locally; and attracted more than 126,000 visitors to the area, according to a news release.
The survey points out that significant amount of the revenue SCAD attracts comes from outside of Savannah.
"SCAD's impact on the local economy is particularly noteworthy in that, like Harvard in Cambridge, MA. and Notre Dame in South Bend, IN, SCAD draws the great majority of its students, and a very high percentage of its revenues, from outside the Savannah area," said Hugh O'Neill, president of Appleseed, in a statement. "At the same time, most of the money SCAD derives from these external sources is spent in the Savannah area, generating jobs and income both at SCAD itself and throughout the local economy - jobs and income that in SCAD's absence, would probably not have come to Savannah."
The Savannah campus had 8,378 students enrolled in 2012 from all 50 states and 111 countries and employed 1,590 people. Also in 2012, SCAD more than $40.8 million in the construction and restoration projects around Savannah, according to the study.
"For more than three decades, the City of Savannah and SCAD have worked side by side and seen the city blossom," said Savannah Mayor Edna Jackson, in a statement. "SCAD has breathed new life into long abandoned buildings, all while remaining respectful of Savannah's history, people and neighborhoods. This has been a true partnership that has led to the revitalization of downtown Savannah and the larger Savannah community."
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