Georgia Breaks Economic Development Records
August 20, 2023
For the third year in a row, Georgia exceeded records for economic development initiatives throughout the state. Governor Brian P. Kemp recently announced, that between July 1, 2022, and June 30, 2023, total investments in facility expansions and new locations totaled more than $24 billion, resulting in 38,400 new jobs through 426 projects supported by Georgia Department of Economic Development’s (GDEcD) Global Commerce team.
The Governor’s announcement claimed, “When excluding the two largest projects in state history – Rivian and Hyundai Motor Group – from the previous year’s job creation figures, total jobs as a result of FY23 projects exceeded the previous record by more than 2,800 new positions. Annual investment totals have also increased by 131 percent over the last three years.”
Furthermore, the Atlanta region is not the only area of the State benefiting from this growth. “Eighty-two percent of new jobs created and more than $20 billion in investments are on their way to communities outside the 10-county Atlanta region. Expansions account for 71 percent of total projects, and new locations for 65 percent of new jobs announced across the state,” according to the Governor’s statement.
More Legislative News
Georgia REALTORS® Monitor Commercial Financing Legislations
March 16, 2023
The GAR State and Local Government Committee is looking for feedback from our members on this...
More information on HB 514
March 15, 2023
This bill will increase access to affordable housing and give Georgians the opportunity to build a...