New Georgia Report Shows Investments, Job Creation Increasing Around the State

 

Georgia officials have announced that economic development projects throughout the state during fiscal year 2021 have delivered record-setting jobs and investments.

This, according to a press release that Georgia Gov. Brian Kemp and officials with the Georgia Department of Economic Development (GDEcD) published this week.

Investments increased by 46 percent, while job creation increased 5 percent above prior state economic development records. New investments totaled $10.97 billion. Investors created 33,439 jobs in the state through 379 projects. The GDEcD’s Global Commerce division supported those projects between July 1, 2020, and June 30 of this year, the press release said.

“By remaining open for business and working alongside local economic development partners and private sector business leaders, we’ve been able to create greater opportunities for hardworking Georgians and prioritize attracting key industries that bring quality jobs and investments to every corner of the Peach State,” Kemp said in the press release.

Georgia’s international partnerships accounted for the creation of nearly $2 billion in foreign direct investment in the state. Foreign direct investments created 20 percent more jobs than during the previous fiscal year. Nineteen projects from Korea represent the highest job creation from a single country. Swiss-based projects led in total investment. Businesses from Germany created the second-highest number of jobs during Fiscal Year 2021, according to the press release.

“[Exactly] 74 percent of new project locations and expansions took place outside of the 10-county metro Atlanta region, along with 69 percent of total investments. New locations and expansions outside of this area and in Georgia’s rural regions created 17,322 jobs across the state. Companies choosing to expand in Georgia accounted for 69 percent of total projects, and new locations were responsible for 57 percent of the jobs created,” the press release said.

“Leading industries investing in Georgia included automotive, advanced manufacturing, software/technology, logistics and distribution, and food processing, which alone increased 232 percent in job creation over FY20. Additional strong gains in jobs and investments came from FinTech and digital media. Investments in headquarters reached nearly $93 million, an increase of 94 percent from the previous year, and jobs created by headquarters were up 281 percent from a year earlier.”

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Chris Butler is an investigative journalist at The Tennessee Star. Follow Chris on Facebook. Email tips to [email protected]

 

 

 

 

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